The acquisition marks the first strategic initiative under recently appointed Tour Partner Group CEO Paul Maine, and the Group’s entrance into the Nordic market.
LONDON – Tour Partner Group, the recently formed holding company for Hotels & More, Irish Welcome Tours and Authentic Vacations, announced it has signed a definitive agreement to acquire Trans Nordic Tours, the largest local inbound tour operator to the Nordic countries by revenue, building on its position as a leading European destination management company with combined revenues over 100m. euros.
Trans Nordic Tours, launched in 1995, is based in Denmark and successfully led by founders Yvonne and Pierre d'Hermilly. It provides in-market services for consumers travelling to popular destinations throughout Scandinavia, Iceland, Greenland, Finland, the Baltics and Russia. Since inception, it has grown to 41 staff, speaking 17 different languages, and services a fast growing and geographically diverse client base.
The acquisition marks the first strategic initiative under recently appointed Tour Partner Group CEO Paul Maine, and the Group's entrance into the Nordic market. Trans Nordic Tours will also add new source markets to Tour Partner Group's portfolio, capturing increasing demand from Asia, Australia, the Middle East and South America.
The number of international tourist arrivals has more than doubled in the past 20 years, with an estimated 1.8 billion annual trips by 2030. According to the United Nations World Tourism Organisation (UNWTO), Europe was the most frequently visited region in the world in 2016, accounting for close to half (49.8 %) of the 1.24 billion international tourist arrivals. Northern Europe experienced the greatest growth (6%) across Europe during the last year. This increase in tourist arrivals highlights the Nordic region as one of the world's fastest growing inbound tourist destinations.
This new acquisition follows the recent transaction with Irish Welcome Tours, one of Ireland's leading inbound tour operators, and Authentic Ireland, a high growth online US travel agent, which strengthened Tour Partner Group's market leading position in the UK & Ireland.
This activity represents the next phase in Tour Partner Group's growth, building on its success since Mayfair Equity Partners' backed the buyout of Hotels & More in 2015. Tour Partner Group now consists of over 150 destination experts, providing services across 14 North European countries to clients from more than 50 countries; including operating groups, foreign independent tour providers and the meeting and event industry. Tour Partner Group will continue to evaluate acquisition targets that complement the Group's underlying organic growth, provide access to new geographies, and reinforce its leadership position in existing markets.
Paul Maine, CEO of Tour Partner Group said: "With the global spotlight on the Nordic region as an exciting and year-round travel destination, I am delighted to be able to work alongside Yvonne and Pierre, and the whole Trans Nordic Tours team. With this acquisition, we have started to realise our vision to be the largest DMC in Europe, with a combined revenue of over €100m. We will continue to innovate our product offering within and across our destination markets, providing new opportunities for our customers, suppliers and employees."
Pierre d'Hermilly, COO of Trans Nordic Tours commented: "The partnership with Tour Partner Group (TPG), is the perfect choice to secure the development of Trans Nordic Tours and to further opportunities for our excellent team".
Yvonne d'Hermilly, CEO of Trans Nordic Tours added: "Joining this select group of the best performing inbound tour operators in northern Europe is a privilege and the synergies between us will be an asset to our partners, clients, and suppliers. We are excited about the opportunity and we could not have hoped for a better future for our staff and Trans Nordic Tours".
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
