The OTA, which specilaises in long-haul holidays to the Caribbean, Mexico and Indian Ocean confirmed today it had secured the multi-million pound investment from mid-market private equity firm LDC.
Blue Bay said the investment would enable it to create “a vast array of opportunities to strengthen its partnerships with other industry leaders”.
It added that this would include "new marketing packages, an expanding product portfolio and the launch of Xclusivity, a new brand specialising in luxury breaks to carefully selected long-haul and short-haul destinations", which it said would "ensure that 2017 lay the groundwork for even greater successes".
The business is planning to accelerate its growth by investing in price comparison technology and online booking platforms and expanding its 60-strong team of travel consultants. It also said it would be adding more homeworkers to its sales team and launching “new, innovative products”.
This will include new facilities for online-only booking, a white label website framework entitled Orcastra, expansion to new countries and destinations and new collaborations with travel operators for direct sales solutions.
The group said it would continue to operate as part of the Midcounties Co-operative Travel Consortium.
Under the deal LDC has acquired a significant minority shareholding, with investment director David Andrews joining the board alongside independent non-executive Lawrence Dean, and travel industry veteran Andrew Gardner as non-executive chairman.
Commenting Gardner said: “I’d seen Blue Bay Travel receive numerous awards over the years that honoured an unshakable commitment to industry-leading excellence in the long-haul travel sector. I felt inspired by what the team had achieved and I’m delighted to contribute my knowledge and experience to the company’s future successes.”
Blue Bay Travel was founded in 2003 by Stuart and Angela Wilson. Last year it saw a 31% increase in bookings, carrying more than 16,500 passengers.
It operates under several specialist brands including Caribbean Warehouse, specialising in destinations such as Mexico, Dominican Republic, Barbados and Saint Lucia, and Tropical Warehouse, focusing on the Indian Ocean and Far East.
It has won a number of awards at the TTG Travel Awards, including Travel Company of the Year in 2011, Travel Team of the Year in 2013 and more recently Call Centre Agent of the Year in 2016.
