TUI Group and the founders of Intrepid Travel on Thursday
said they would end their four-year partnership.
Under the new arrangement, Darrell Wade and Geoff Manchester
will reassume full ownership of the adventure travel company they co-founded in
1989, along with a portfolio of brands that will make up the Intrepid Group.
Wade will continue as CEO of Intrepid Group, and James
Thornton will serve as managing director. Intrepid Group includes Adventure
Tours Australia, Geckos Adventures, Intrepid Travel, Peregrine Adventures, The
Family Adventure Company, Urban Adventures plus the company’s group of
destination management companies.
TUI is replacing its PEAK division, which included Intrepid,
with a new Adventure Specialist Division that resides within TUI’s Specialist
Group and now includes the brands Quark Expeditions, Zegrahm Expeditions,
International Expeditions, Exodus, Headwater, TrekAmerica, Grand American
Adventures, Sawadee, World Challenge and AmeriCan Adventures.
"Over the last four years we’ve seen huge growth in the
adventure travel sector globally,” Wade said in a statement. “We now recognize
that we have different priorities and business philosophies.”
Added Wade, “We’ve been observing emerging trends across the
adventure travel sector globally, and now we can work quickly with our
destination management companies and industry partners to grow the market for
authentic local experiences that truly benefit both travelers and the places