Abercrombie & Kent Travel Group says it is to beef up its tech after securing almost £400 million in financing from Citi.
The funding will enable the company to restructure existing legacy financing arrangements with ‘a clear runway for expansion over the coming years’.
Its strategy is focused on unifying every element of the business and improving the end-to-end product experience for consumers.
This includes investing in its back-office systems and creating a digital infrastructure, centred on a new Abercrombie & Kent global website, centralised booking system and travel advisor portal – all supported by a bespoke CRM platform.
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It will also invest in expanding its owned assets globally including new destination management companies and physical assets such as camps, lodges and riverboats in existing and new markets.
Abercrombie & Kent currently has 56 offices in 34 countries.
“This deal cements another milestone in the over 30-year relationship between my family and Citi,” said Manfredi Lefebvre d’Ovidio, AKTG executive chairman.
“It is a partnership that has helped build businesses and generate growth all around the world. I am excited about this next chapter together and the possibilities it unlocks for Abercrombie & Kent.”