‘Our long-term vision is to be a global cultural experience specialist’

Renewed activity follows investment from B Corp investor Piper and also Cool Japan. Piper was founded by the brand specialists behind Pitcher & Piano, which caught Donnelly’s attention.

“We believe in the power of brands,” he tells TTG. “Travel has lots of great companies, but not many brands stand out. Sometimes, if you remove the logo, you can’t tell them apart.”

Cool Japan, meanwhile, is Japan’s sovereign wealth investment vehicle. Following a £10 million investment, the group – which also operates InsideJapan – is now 30% owned by Japan’s taxpayers. It is easy to see Japan’s thinking – in 2000, only three million people visited the country. Next year could see 40 million go.

Inside Travel is making its contribution. “We feel a real sense of validation,” says King. Both men feel re-energised after 15 months of talks with financial advisors. “I can feel the pace picking up,” Donnelly adds.

Investors should be happy; ITG’s 2023 revenue reached £50 million, and it was on course to hit £65 million in 2024 as TTG went to press. In 2025, ITG is targeting another 30% increase.

Donnelly and King insist there is no question of selling up. “We’re absolutely loving it at the moment,” says King. Donnelly adds: “Retirement is not on my agenda for the next seven years.”

Another thing that won’t change is sales strategy. ITG is 60% direct-sell; Donnelly insists lessons learnt from direct customers benefit agents. “Some businesses are trade-only, but you lose that vital touch with customers. We’re able to bring these learnings into the service we offer the trade.”

Trade bookings, he adds, are “flying”. Meanwhile, there are other issues to deal with. The recent political turmoil in South Korea saw the country’s (now impeached) president declare martial law, but Donnelly insists the brand’s first group tours there are “selling like hot cakes”.

’Rest assured, South Korea is still a dynamic, delicious – and very safe – destination’

King and Donnelly clearly reserve most affection for their InsideJapan programme, which is being helped by the growing popularity of Japanese food and culture in the UK. London, for example, will next year host only the second professional sumo wrestling event to be held outside of Japan.

“Japan continues to have a ‘moment’ for the long-term,” says Donnelly. “We don’t think that will change in the next two to three years.”

A potential setback, though, is a lack of flight availability, with airlines not expanding capacity. However, the duo say with yen “pushing 200 to the pound”, there is value to be had.

“Even at 150, it’s still great,” Donnelly insists. “People still have this 1990s myth that a beer in Japan is £20. You’re more likely to pay that in London.”