U.S.-based Classic Vacations to be purchased by India's travel distribution company TBO, as per deal with Najafi Companies

In a significant move in the travel industry, Gurugram-based TBO has announced the acquisition of Classic Vacations, a leading luxury travel brand in the United States. The deal, valued at up to $125 million, was facilitated by Moelis & Company LLC as the exclusive financial adviser to Classic Vacations.

Classic Vacations, which serves over 10,000 travel advisors in the U.S., has been successful for nearly five decades. The company was previously owned by The Najafi Companies, who acquired it from Expedia Group in 2021.

Melissa Krueger, CEO of Classic Vacations, expressed excitement about the acquisition. She stated that TBO's tech-centric solutions are geared fully toward their travel advisor community. Krueger added that the acquisition strengthens Classic Vacations' position as the premier luxury partner in the market while extending their reach onto the global stage.

Jahm Najafi, founder and CEO of The Najafi Companies, also expressed his excitement about the acquisition. He mentioned that they have been successful in maximizing the company's strengths and expertise in luxury travel for the last four years. Najafi stated that this acquisition and partnership is a natural next step for their portfolio company Classic Vacations.

Ankush Nijhawan, cofounder and Jt. Managing Director of TBO, stated that the acquisition continues to further their strategy to invest in both organic and inorganic growth opportunities. TBO's cofounder and Jt. Managing Director, Gaurav Bhatnagar, expressed similar sentiments, stating that Classic Vacations' outstanding services make them a seamless fit for TBO's vision.

The acquisition combines TBO's technology platform and global inventory with Classic Vacations' extensive network of luxury travel advisors and suppliers. TBO, founded in 2006, is a global travel distribution platform that connects over 159,000 travel buyers and 1 million travel suppliers across more than 100 countries.

Cooley LLP served as the legal advisors for TBO in this transaction, while Ballard Spahr LLP acted as the legal advisor to Classic Vacations. PWC were the financial and tax advisors for TBO in this transaction.

In the fiscal year ended Dec. 31, 2024, Classic Vacations reported revenue of $111 million and operating EBITDA of $11.2 million. Despite the sale period between 2021 and 2025 not providing information about which company sold it or to which company it was transferred, it is clear that this acquisition marks a significant milestone for both TBO and Classic Vacations.

Krueger also noted that TBO's first-class technology platform will allow them to bring even more resources, tools, and insider connections to their valued travel advisors. This acquisition is strategically aligning with Classic Vacation's exclusive B2B brand and elite, high-value advisor network.

As the travel industry continues to evolve, this acquisition is a testament to the power of technology and partnerships in driving growth and success. With TBO's global reach and Classic Vacations' extensive network of luxury travel advisors and suppliers, the future of luxury travel looks promising.

U.S.-based Classic Vacations to be purchased by India's travel distribution company TBO, as per deal with Najafi Companies