UK-based Blue Bay Travel, an online travel agent , has received a £6.5 million investment from the private equity firm LDC. Blue Bay Travel specialises in holidays to the Caribbean, Mexico and Indian Ocean, providing holidays to more than 16,500 passengers per year. The company saw a 31% increase in bookings in 2016.
The business operates under several brands that focus on different regions – including Caribbean Warehouse, which serves destinations such as Mexico, Dominican Republic, Barbados and Saint Lucia – and Tropical Warehouse, which focuses on the Indian Ocean and Far East.
The company plans to use the new funding to accelerate growth by investing in its price comparison technology and online booking platform, and expanding its team of travel experts. The travel company also plans to launch new, innovative products, including new facilities for online-only booking, new collaborations with travel operators, and a website framework called Orcastra. There are also plans to expand to new countries and destinations.
“Partnering with LDC represents an exciting opportunity for Blue Bay Travel to build on our success to date, enabling us to invest further in our team and technology,” said Stuart Wilson, founder and CEO of Blue Bay Travel, as reported by LDC. “We’ve come this far on our own, but the time is right to bring on board a partner with the capital and expertise to help us deliver the ultimate ambition for the business and create exciting new job opportunities under the guidance of our market-leading specialisms. LDC understood that vision right from the outset and have the track record in building great businesses in our sector.”
Read more: LDC