The Stoke-on-Trent-based agency announced the investment by LDC – the firm that backed Iglu in 2015 – last week, along with the appointment of former Cruise.co.uk chairman Andrew Gardner as non-executive chairman.
Under the deal, LDC has acquired a significant minority shareholding, which will help Blue Bay Travel – a Midcounties Co-operative consortium member – to triple sales in the next three years and grow staff numbers from 60 to 100 in the coming two years.
Chief executive Stuart Wilson, who founded the business with wife Angela in 2003, told TTG that the company had been growing in profitability for several years.
Last year, it booked 16,500 passengers, an increase of 31% year-on-year, and expects 42% growth this year.
The agency specialises in long-haul holidays to the Caribbean, Mexico and Indian Ocean and operates under several specialist brands, including Caribbean Warehouse and Tropical Warehouse.
Wilson said the firm’s cruise offering was an area that would grow in the future.
Another priority following the investment will be the introduction of online booking technology by the end of the first financial quarter, along with price comparison capabilities, although Wilson stressed that Blue Bay Travel would always encourage customers to call its agents.
The company is currently viewing potential premises to accommodate its staff – part of the reason the financial investment was sought.
Wilson also wants the new head office, which will remain in Stoke-on-Trent, to include a store as part of its function.
“That’s something the staff are really excited about,” he said.
“They love talking to customers, and while clients can come in to the current offices, we’re not really set up for it.”
Other plans in the pipeline for 2017 include new marketing packages and the launch of Xclusivity, a new brand specialising in luxury breaks to both long-haul and short-haul destinations.
Blue Bay Travel, which has won three TTG Travel Awards, said the investment would also enable it to create “a vast array of opportunities to strengthen its partnerships with other industry leaders”.
