TBO acquires US-based Classic Vacations

Indian firm seeks a toehold in American luxury travel with the $125 million deal

- BY DHANUSHA GOKULAN

Gurugram-based TBO, an NSE-listed travel distribution platform, is making a major push into the high-end outbound travel market in North America with its acquisition of Classic Vacations from Phoenix-based investment firm, The Najafi Companies.

Significant move

The deal, valued at up to $125 million, can be considered a significant move by the Indian company as it expands its global footprint by acquiring the American luxury travel brand.

Classic Vacations delivered a revenue of $111 million and EBITDA of $11.2 million in the fiscal year ended December 31, 2024. Classic Vacations was bought by The Najafi Companies in 2021 from Expedia Group.