To consolidate its position in the Indian outbound market to the Maldives, Travel Boutique Online (TBO) Group acquired Bangalore-based Gemini Tours & Travels.
In 2019, TBO had acquired Island Hopper, which has over 21% share of Indian travel market to Maldives. Gemini Tours shall merge with Island Hopper, helping the latter expand its presence in the Southern India and strengthen its market position in the region.
Talking about this acquisition, Ankush Nijhawan, Co-Founder, TBO Group, said, “The merger of Gemini Tours & Travels will help Island Hopper further expand its presence in South India and consolidate its leading position as an island specialist. This acquisition would also help our customers gain more hotel options, especially in the luxury segment in Maldives.”
Subbaram Mani, Founder Gemini Tours & Travels, added, “TBO is one of the fastest growing companies not just in India but globally. It gives us immense pleasure to be part of this $2 billion multinational company and we look forward to contributing towards TBO Group’s growth.”
Calling Mani a pioneer in promoting Maldives as a destination, Nijhawan said that he has good relations with hotel partners in the island country, which would further help Island Hopper deliver a better customer experience for its clients.
Following Island Hopper’s successful merger with TBO Group, the company’s business has grown by over 100% year-on-year for island destinations despite COVID and it has emerged as top supplier for most resorts across Maldives.
