Intrepid Travel has acquired leading Dutch tour operator Sawadee Reizen from Travelopia in a landmark deal, signalling a major step into a new market and an ambition to grow its style of responsible small group travel in Europe.
Headquartered in Amsterdam, Sawadee is one of the largest experiential tour operators in the Netherlands and delivers over 250 trips across 100 countries with a global team of 180 people.
The acquisition, which completed on 31 January 2025, will add $100 million (€60m) in revenue and an additional 20,000 customers a year to Intrepid boosting EBITDA by an extra $5m (€3m). This supports Intrepid’s ambitious 2030 Strategy, which aims to grow to more than $1 billion in the next five years.
This acquisition makes the Netherlands Intrepid’s fourth largest source market (after Australia, the US and the UK).
Intrepid and Sawadee have enjoyed a successful working partnership since 2011. Intrepid DMC operates a number of Sawadee’s trips to deliver high-quality, locally focused, immersive travel experiences, with a commitment to responsible travel.
Both Intrepid and Sawadee achieved record financial results in 2024 and share a strong cultural alignment in their commitment to customers and their teams. Sawadee has a 4.5-star rating on Trust Pilot, while Intrepid has a world-leading NPS of 81.5.
“We’re delighted to welcome the Sawadee team to Intrepid after more than a decade working successfully together,” said Intrepid CEO, James Thornton. “Intrepid aims to be the world’s largest vertically integrated experiential travel company and bringing our two brands together is a major step towards that. We also both believe that travel can be a force for good in the world,” he added.
“Sawadee is passionate about delivering exceptional experiences for its customers, expanding horizons and connecting communities. We wish the team success and continued growth under Intrepid ownership,” said Andy Duncan, Travelopia CEO.
Under the deal, Sawadee will continue to be led by Managing Director Berend Simons, who will report to Intrepid’s Managing Director EMEA, Zina Bencheikh. Sawadee will remain based in Amsterdam and will continue to operate with its existing name and brand, which is well-recognised in the Netherlands.
“Intrepid is a leading global travel business, with exceptionally strong values. We’re excited about the next part of the Sawadee journey and growing together. Our leading position in the Dutch market, coupled with Intrepid’s global expertise, means we will continue to deliver amazing trips for our customers and create impact for the communities we visit,” said Sawadee Managing Director, Berend Simons.
Thornton went on to signal that Sawadee will work towards becoming B Corp certified, building further on its sustainability credentials, which includes it having the highest level of Travelife certification since 2014.
Intrepid has been a B Corp since 2018, achieving a score of 100+, meaning its social and environmental credentials are among the best in the world.
Both Intrepid Travel and Sawadee are signatories of ‘Tourism Declares a Climate Emergency’, as well as numerous other sustainability initiatives.
