G Adventures buys out Covid-era investors after strong 2024
Gary NoakesG Adventures has severed links with investors secured during the pandemic after a “strong” 2024.
The operator secured an undisclosed amount of investment in 2021 from private equity firm Certares as it navigated its way out of the pandemic.
In an end of year message, G Adventures founder Bruce Poon Tip said an “aggressive recovery strategy” combined with strong business performance over the past 12 months, which saw G Adventures hit 2027 targets, “has allowed us to come to a buy-out agreement with Certares”.
“Certares has been a fantastic partner, from whom we have learnt a great deal, and has been an invaluable support in a turbulent time and we thank them for their flexibility and guidance,” he said.
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Poon Tip said the partnership had enabled “hefty investments in our technology infrastructure”.
He said G Adventures had closed the year “with double digit growth once again”, helped by “an incredibly strong past quarter, including the best Cyber Sale period ever”, with global sales up 42%.
He added: “Hats off to our team in the United Kingdom and Ireland, who saw an impressive 35% increase in Cyber Sales compared to 2023.”
Next year, more than 200 new trips are planned, the biggest product launch in G Adventures’ history, with a 50% increase in departures.
“We’ll be taking travellers to new destinations including Pakistan and the Balkans, as well as lesser-visited regions of destinations including Japan and South Africa, while helping to bring the power of tourism to local communities who have been unable to benefit previously,” he concluded.
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Gary Noakes
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