We invest in the future of travel in Spain

We are an investment firm seeking to acquire, operate and grow Spanish tourism companies.

Investment Thesis

Travel in the new era

Digital Transformation is accelerating.

Sustainability is a must.

Travel habits are changing.

Spain still is the future.

Investment Thesis

Digital Transformation is accelerating

Driven by short format videos platforms like TikTok and Reels for Inspiration.

Travellers are bypassing traditional channels like travel agents and tour operators to Book Direct.

Data and IA powered Travel Planning empowers a new generation of travellers.

Decisions are made based on pricing comparison tools,  meta-search engines and validated reviews.

API’s provide universal access to supplier dynamic pricing and inventory for Bookings.

Investment Thesis

Travel habits are changing

Travellers are combining leisure  with business. This allows for longer stays, reduced seasonality and alternative accommodation options.

Travellers are increasingly ethical and intentional in their choices, driven by environmental and social concerns and suppliers' initiatives.

Travellers are open to exploring lesser known, less busy destinations. This opens opportunities for a more local and diversified tourist offering.

Increased segmentation and tailored engagement with travellers creates valuable market opportunities in endless niches. (Ultra Luxury,  Experiential, Ethical, Sports, Food, Religious, Seniors, etc…)

Investment Thesis

Sustainability is a must

of global carbon emissions caused by the global travel industry
of leisure travelers are concerned about sustainability. Still only 10% acting
of travel companies are making sustainability an investment priority

With global tourism set to double in size by 2050 from 2019 levels, doing nothing is no longer an option. Companies should start to measure their negative and positive impact and transform their business accordingly.

Changing consumer behavior and regulatory frameworks will require companies to adapt if they want to be or stay successful.

Investment Thesis

Spain still is the future

Spain is investing 3.4 billion euros in the tourism sector, with more than two billion going toward sustainability projects. The aim is for every visitor to have a net positive impact in terms of the environment, the social impact on local communities, and economic sustainability.

Spain’s abundance of cultural offers, attractions, great people, lifestyle, weather, architecture, UNESCO sights, food, wine, and natural wonders are discovered and appreciated one generation after another.

Spain is well positioned to attract increasing numbers of luxury travellers with the addition of five-star hotels in Madrid and beyond.

Whilst the Chinese market is not expected to recover until 2026, Spain has long term growth opportunities to attract a new generation of travellers from India, and especially from the Middle East and Latin America based on historical ties.

Investment Criteria

We invest only in the right fit


Strong middle management
Private and concentrated ownership
Motivated sellers
Opportunity for us to add value
High operating leverage
Low customer concentration and churn
A minimum 30% business to business services


Recurring or repeat contractual revenue streams
Minimum Annual revenues over € 3.5 million
Minimum Annual EBITDA over € 0.35 million
Cash flow positive for three years
Low ongoing capital expenditure needs

Sectors of Interest

Tour operators
Travel Agents
Wholesalers Travel Management companies
Meeting & Events organizers
Travel Technology & Distribution companies
Tours & Activities operators
Suppliers (accommodation, car rental, aviation ferry, cruise)

Pioneers in digital transformation and sustainability

Eddie Lubbers

Founder & Managing Partner

• Early employee with Booking.com, Hotels.com, Lastminute.com, hired by and reporting directly to these companies’ founders

• Founder and former CEO of Caribbean Travel Network, a pioneering company for online travel services in the Caribbean

• Achieved €100M+ in accumulated sales and €10M+ in accumulated ebitda, directly creating 150 jobs for highly motivated co-workers

• M&A experience: one company acquired and multiple asset-based transactions in the travel and travel media sectors

Angel investor in several travel startups in EU and US

• Completed an Executive Education program in Mergers & Acquisitions at the Wharton School of the University of Pennsylvania

• Passionate about tourism, e-commerce, digital transformation, sustainability, management, and business strategy

• Fluent in five languages (Dutch, English, Spanish, German, French)


Industry experts to ensure success

Fabian Gonzalez


Founder Forward Travel
Spain market analyst for Phocuswright (Spain)

Adam Wallace


Founder Spherical
Digital Marketing
Agency (USA)

Why us

Why Destino


Will I receive a good and fair price for my business?


Will the buyer seek to build on my legacy and take care of my employees?


Do the buyers have a track record of doing as they say after the LOI is signed, and after the transaction is complete?

Confidence to Close

Does the buyer understand our business, or will we have to go through an extended period of time educating them on our business?

Capacity to Close

Does the buyer have the financial capacity to close the investment? Do they have previous experience in buying or running a company, like mine?

Investment Thesis

Travel in the new era.

Digital Transformation is accelerating

Sustainability is a must.

Sustainability is a must.

Spain is (still) the future.

Why Us

Our investment process

1-2 weeks


• Explore the opportunity and see if it is a good fit for both parties

• We provide the 1st information request list and preliminary fair market value range

• We submit an expression of interest to you

• You decide if we move forward

8-12 weeks

Diligence & Close

• We complete our due diligence

• We finalize purchase documents

• We sign documents and you receive the proceeds from the sale

2-4 weeks

Letter of Intent

• We provide the 2nd information request list

• We submit to you a letter of intent with key agreed upon deal terms clearly outlined

• You decide if we move forward


Reach out

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The Netherlands.
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