Riviera Travel

Guided tours and river cruise holidays  |    www.rivieratravel.co.uk

 

Date Invested

December 2014

STATUS

Realised

SECTOR

LOCATION

Burton-on-Trent, UK

CONTACT

David Burns

Warwick Nash

Adam Corbett

Riviera Travel is a multi award-winning provider of overseas guided tours and river cruise holidays. Riviera’s core customers are typically over 55s travellers, attracted by the exceptional customer service and value for money guided tours that Riviera offers. Phoenix invested in Riviera in December 2014 and sold the business in December 2017.

our partnership

Phoenix supported CEO David Clemson and the team in a primary buyout of Riviera from founder Michael Wright in December 2014. At the time of Phoenix’s investment, Riviera had a strong product but mainly reached its customers via newspaper reader offers. Phoenix worked with David and the team to transform the business by developing a direct-to-consumer marketing channel and building brand awareness. The river cruise programme was significantly expanded and several new product categories were launched. The business was also expanded internationally into Australia and the USA. To support this growth strategy, the team was further strengthened with the appointment of an experienced Chairman and four senior executives. Over Phoenix’s three year investment period, EBITDA grew by approximately 80% and headcount by 40%.

In recognition of Riviera’s strong product offering and unfaltering commitment to customer service, Riviera was awarded Which? Travel Brand of the Year in 2017.

"The team at Phoenix had ambition combined with a supportive style which fitted closely with the Riviera culture. Their sector understanding and general commercial insight helped support the development of the business and deliver growth.”

David Clemson, CEO of Riviera Travel