G Adventures announces Restructure With New Holding Company

25.08.2023 - 14:19 / skift.com / Selene Brophy / With New / Holding

G Adventures, the small group tour operator, is restructuring as G Travel Community (GTC). The holding company sets the scene to bring its existing brands into one stable but with expanded space for new brand acquisitions.

Bruce Poon Tip, the founder of G Adventures and the company’s former CEO, takes over as chairperson of G Travel Community when it is announced formally next week. The move comes two years after the company secured a large investment from travel-focused private equity firm Certares. 

Poon Tip told Skift in an exclusive interview that the restructuring of the company is part of its five-year, mutli-brand strategy, focused on creating a positive impact through community-led growth across all spheres of travel.  

Despite not making a single acquisition since receiving its funding in February 2021, Poon Tip said the company has been “under no pressure from Certares to perform”. 

“Certares are making zero demands on us, and while we have not made any acquisitions in two years, there is undoubtedly an expectation that we do,” Poon Tip said. 

He added there is no risk to the terms of the investment agreement and the formation of the holding company shows they are getting ready to make some concrete announcements soon. 

“Our goal is to bring more brands and travel companies under one umbrella to have a greater impact on a wider audience. We’ve had great success with what we do globally as G Adventures, but we have a limited scope on our audience. 

“With the formation of GTC we are finally creating a community – a stable of travel brands that can really drive change to a wider demographic of people, who love to travel, but at the same time want to change the world,” said Poon Tip. 

Poon Tip confirmed they have been in discussions with a few companies and would have liked nothing more than to announce the structural change, together with making a new acquisition. 

“There are a number of sensitivities with these things. We just had a deal fall through in December during the due diligence process, but we’re really close now,” he said.  

The restructure also sees several senior leadership changes within the business. 

Jeff Russill, currently chief operating officer for G Adventures, will become the chief executive officer of GTC, overseeing the G Adventures, TruTravels and G Touring brands. 

Ben Perlo, currently managing director for G Adventures in the United States, will take on the mantle of president and chief executive officer for the G Adventures brand, in addition to his current role in the short-term. Perlo will remain based in Boston, United States.  

Poon Tip added that the new companies they’re planning to bring on board would need to fit into the intent and purpose of G Travel