TBO Co-Founder on $125 Million Classic Vacations Deal and Building U.S. Presence

India-based travel distribution company TBO Tek announced on Tuesday it is acquiring Classic Vacations, a California-based luxury travel wholesaler, in an all-cash deal worth up to $125 million.

Soon after the announcement, Skift spoke with Gaurav Bhatnagar, TBO’s co-founder and joint managing director, to learn what the deal means for the company’s global ambitions and for the U.S. luxury travel market.

“You can't really claim to be a major player in luxury travel business without a significant U.S. presence,” Bhatnagar told Skift.

The seller, Arizona-based private equity firm Najafi Companies, has owned Classic since 2021 after acquiring it from Expedia.

Classic Vacations is a familiar name to many U.S. travel advisors. Founded in 1978, it built a reputation for curated holiday packages and high-touch service. Last year, the company reported $111 million in revenue and an operating pro