Tailor-made holiday group TravelLocal has merged with a German rival as Covid restrictions are lifted and bookings begin to rebound.
TravelLocal, led by Tom Stapleton, has agreed a tie-up with Berlin’s trip.me. It has also received a £2.5 million cash injection from existing investors, including Soho House-backer Active Partners and Gresham House Ventures, an investor in eateries Pho and Vinoteca.
TravelLocal, based in Bristol, said sales were beginning to bounce back as holidaymakers become more adventurous following a series of lockdowns. Bookings to Greece and Costa Rica have rebounded 60 per cent since April, according to Huw Owen, the company’s co-founder. The majority of the bookings have come from American tourists, he added.
TravelLocal and trip.me organise bespoke holidays and are particularly popular with the over-40s. They use local travel experts to design trips to 100 countries.
TravelLocal, launched in 2016, received early backing from TV broadcaster Channel 4 via its commercial growth fund.
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While the terms of the deal were not disclosed, TravelLocal was valued at £20 million at its last fundraising round, and is merging with a bigger firm.
Stapleton said: “Covid is accelerating an epochal change in the travel industry.
“Ethical and sustainable travel that contributes substantially and directly to local economies is at the forefront of global consumer trends now.”