BGH Capital invests in TripADeal.
TripADeal has just confirmed a partnership with investment group BGH Capital, with the move said to help the OTA take advantage of a number of growth opportunities as the industry gears up for a strong post-COVID return.
The Byron Bay owned and operated disruptor is confident about the future for Australian tourism, with co-founding CEOs Norm Black and Richard Johnston saying they expect to emerge from the pandemic stronger and more responsive to the changing travel needs of the company’s customers and business partners.
“Over the past two years several firms have knocked on our door eager to invest in TripADeal,” they said, adding that BGH had approached the company late last year, well before the pandemic.
“BGH has significant experience in tourism and their partners share our vision for growth as the travel industry takes off post COVID-19. We believe BGH will help take TripADeal to the next level,” the pair added.
BGH founding partner Ben Gray said TripADeal’s online business model offered enormous growth opportunities while avoiding the cost structures of more traditional bricks and mortar operations.
“The company has a very scalable business model that is supported by a well-developed technology platform. The disruption posed by COVID-19 will ensure they continue to benefit from strong industry tailwinds and the bricks-and-mortar shift to online,” Gray added.
More details in Monday’s issue of Travel Daily.