TBO Group acquires Clickitbookit and Island Hooper.
TBO Group has an annual turnover of $1.4billion and operates in 95 countries across the globe.
TBO will use acquisition in exploring opportunities in several other emerging island markets globally.
TBO Group in order to expand its business has put a marvelous move by acquiring Clickitbookit and Island Hooper. The firms are leading companies in terms of number of passengers visiting the island nations of Mauritius, Seychelles and Maldives, also using its bouquet of travel services and products in the Greek Isles.
TBO also known as Travel Boutique Online is headquartered in India. The firm is a foremost online travel distribution company. TBO came into existence in 2006 and has since operation expanded its business in more than 95 countries across the globe with $1.4 billion as an annual turnover. TBO benefits its proprietary online technology platform to hotel inventory, allied services; distribute airline and cruises to its travel partners.
Ankush Nijhawan, Co-Founder, TBO Group said about the acquisition that, TBO with this acquisition plans to explore its leisure travel product in the island in which Clickitbookit and Island Hooper have until now enjoyed a ‘Numero Uno’ position in these markets. This acquisition will make TBO a leader in these fast-growing island markets. It will bring pricing advantage and enormous opportunities along with a chance to provide quality service to B2B partners of TBO. This acquisition will also assist us in exploring opportunities in several other emerging island markets globally. Mainly the means to double our business in 2019-20 will be the enhance of connectivity of tier II cities to Maldives island. Sandeep Bhasin, who was a key model in building this business, will be now be joining the TBO group as Vice President after this new acquisition.
On focusing towards acquisition Viraat Bhalla, Managing Director, Island Hopper said, “We had devoted several years in crafting healthy relationships, making grip in local market dynamics and developing an unbeatable portfolio of competitive products to offer innovative experience to customers spending time in these island markets. We have built such an ecosystem that customers can enjoy a cost-effective and seamless holiday experience. I am glad that under the leadership of TBO group our brand will continue to flourish.
On concerning the acquisition Gaurav Bhatnagar, Co-Founder, TBO Group also said, “Given the technological leverage offered by TBO’s online platform and widely built web of travel agents and tour operators in the Indian sub-continent and other global markets, TBO will now fruitfully offer services in these island destinations to the travel fraternity who earlier may not have had access to Island Hopper. On the other side, these islands may well get a fillip and enjoy more substantial inflows from various new source markets.”
TBO is giving tough competition to its rivals in providing services in island markets and is aggressively expanding its business.
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