A major acquisition in the travel industry unfolds as a US digital media company acquires Culture Trip, a well-known travel website and small group tour operator.
- The acquisition follows a management buy-out of Culture Trip led by CEO Ana Jakimovska in July 2023.
- Culture Trip has gained a substantial following with its travel inspiration platform, housing thousands of guides and boasting millions of users.
- The website will continue operations under its brand, providing insider-led group trips and reliable travel information.
- This strategic acquisition by US News & World Report aims to enhance its travel franchise, offering comprehensive travel resources.
A significant development has taken place in the travel industry with the acquisition of Culture Trip, a prominent travel website and small group tour operator, by a US digital media company. The deal, which comes after a management buy-out led by Culture Trip’s CEO Ana Jakimovska in July 2023, remains undisclosed in financial terms. Founded in London in 2011, Culture Trip swiftly established itself as a leading platform for travel inspiration, amassing over £134 million in investments and creating a rich repository of curated guides and content.
Culture Trip captivates a vast audience, engaging millions of users monthly and achieving over three million app downloads. This acquisition marks a new chapter as the website integrates with US News & World Report’s travel franchise, famed for its rankings and travel advice aiding travellers in destination decision-making, travel planning, and exploration.
Under the new ownership, Culture Trip will maintain its brand identity and continue offering its small, insider-led group tours. The strategic move aligns with US News & World Report’s objective to offer enhanced value to travelers through trusted and comprehensive travel resources. Eric Gertler, Executive Chairman and CEO, highlighted the acquisition as a natural progression for expanding their travel business, ensuring consumers have reliable information at their disposal.
Ana Jakimovska expressed enthusiasm about the acquisition, emphasizing Culture Trip’s mission to provide global expert-reviewed destination insights. She regarded the collaboration with US News as a fusion of Culture Trip’s unique travel experiences with US News’ extensive resources, aiming to deliver a more integrated travel service.
Neil Maheshwari, CFO and COO, further reinforced the acquisition’s strategic essence for US News, highlighting its alignment with their travel vertical and GoToSea cruise services. The objective remains clear: to unlock Culture Trip’s potential in serving today’s global travellers more effectively.
This acquisition signals a strategic expansion in the travel industry, promising enriched travel experiences for consumers.
