Intrepid Travel and the TUI Group will end their joint venture, the PEAK Adventure Travel Group, and go their separate ways, each in their own segment of the adventure travel market.
Intrepid Travel's co-founders, Darrel Wade and Geoff Manchester, will take back ownership of the Intrepid brand along with a group of brands under the banner of The Intrepid Group, including Adventure Tours Australia, Geckos Adventures, Intrepid Travel, Peregrine Adventures, The Family Adventure Company, Urban Adventures and a group of destination management companies.
Wade will be CEO and James Thornton will be managing director of the new Intrepid Group.
TUI will continue to operate a group of luxury experiential travel brands under a new Specialist Division, which will include Exodus, Headwater, TrekAmerica and Grand American Adventures as well as Quark Expeditions, Zegrahm Expeditions and International Expeditions, which were previously part of the Specialist Group's North American Specialist Division). Sawadee, which was previously part of the PEAK group, will also be part of the new TUI division, as well as the U.K.-based World Challenge and AmeriCan Adventures, a U.S.-based destination management company.
Wade, who was formerly CEO of PEAK and will be CEO of the new Intrepid Group, said the companies realized after four years that the companies had different philosophies and priorities.
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