How to Sell a Tours and Travel Experiences Company During a Pandemic
Photo Credit: A pre-pandemic walking tour led by a Walks guide of the Acropolis Museum, an archaeological museum focused on findings in Athens, Greece. Walks
Skift Take
Hornblower's acquisition of Walks and Lindblad's takeover of DuVine are great case studies. They show how young companies can land well even in times of crisis. The lessons ought to resonate across the travel sector.
The tours, activities, and experiences sector has been an unheralded bright spot for acquisitions in the travel industry.
In recent months, Hornblower Group acquired walking tour company Walks and other experiences brands. Lindblad Expeditions took a majority stake in DuVine Cycling and Adventure and another experience brand. GetYourGuide acquired Guidatours.
The deals were less interesting for their size than for what they symbolized. The companies didn't disclose terms at a time when the pandemic had slashed valuations. Yet the transactions still suggested a revival in momentum for applying modern selling and business techniques to the fragmented tours-and-activities sector.
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The deals reflect the scorch marks of the pandemic. Travel attracted only $4.1 billion of venture capital in 2020, down 55 percent from 2019 — the lowest level in nearly a decade, said Skift Research.
