In his new role, Rio will help in driving the TBO’s expansion in the global market
This will ensure a smooth transition as the company looks to enter new markets, besides strengthening its presence in the existing markets
With over 20 years of experience across hospitality, travel and consulting sectors, Río served as the CFO at DidaTravel from July 2022 to June 2024
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B2B travel portal Travel Boutique Online (TBO Tek) has appointed China-based traveltech major DidaTravel’s chief financial officer Gerardo Del Rio as president of its international business.
In his new role, Rio will help in driving the TBO’s expansion in the global market. This will ensure a smooth transition as the company looks to enter new markets, besides strengthening its presence in the existing markets, it said in a statement.
With over 20 years of experience across hospitality, travel and consulting sectors, Río served as the CFO at DidaTravel from July 2022 to June 2024. He also held key executive roles in companies like Hotelbeds and JBS Hotels, among others.
“Extensive multi-market, multi cultural experience and proven track record in the global travel and hospitality industry perfectly aligns with our vision for international expansion,” said TBO’s joint managing director and cofounder Gaurav Bhatnagar.
“I look forward to leveraging my experience to foster innovation, build strategic partnerships, and drive the company’s expansion in the global market,” Rio said.
This appointment comes at a time when TBO is actively pursuing international growth through strategic acquisitions, such as BookaBed in Ireland and the UK, and Jumbo Tours’ online business in Spain.
Not to mention, it also launched several new brands targeting specific international markets, including Kizan for inbound tourism in Saudi Arabia, Zamzam for Umrah travel, and Paxes for global corporate travel.
This development follows TBO Tek’s latest ESOP offerings of 2.44 Lakh stock options earlier this week.
It is pertinent to note that TBO Tek made its stock market debut on May 15 at NSE, marking a premium of 55% over its issue price. Notably, it was listed on NSE at INR 1426 against the issue price of INR 920. On the BSE, the stock debuted at INR 1,380, reflecting a 50% premium.
Having made its IPO debut, it joined the likes of other traveltech listed companies like EaseMyTrip, MakeMyTrip and Yatra.
Founded in 2006, TBO Tek provides travel solutions to travel agents and tour operators. It offers white-label solutions, hotel and flight booking APIs and dynamic packages, among others.
It reported a significant 64% jump in its profit after tax (PAT), reaching INR 46.4 Cr in the March quarter (Q4) of FY24, up from INR 28.2 Cr in the same period last year. The company’s operating revenue also increased 31% year-on-year (YoY) to INR 369 Cr during the same period.
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