With the acquisition of Silverjet Vacations, Harco van Uden doubled ExperienceTravel's revenue to 65 million euros in one fell swoop. However, it took 12 years before the deal was completed. "I wanted to pay for the opportunities, but not for the pain points.
The idea for ExprienceTravel originated on the Zambezi River thirty years ago. Founder Harco van Uden sailed in a canoe on this African river as an invisible observer among crocodiles, elephants, buffaloes and hippos. This unforgettable experience, which to him felt like a scene from a nature documentary, he wanted to convey to others, with the motto an experience and memory for a lifetime. Indeed, he wanted travelers to return with memories that would enrich their lives, just as he himself had experienced in the pristine nature of Zimbabwe.
But Van Uden did not decide to set up yet another travel agency. Whereas the industry at the time focused mainly on the product, the then 25-year-old Brabander put the customer first. No standard package, but a tailor-made trip to the needs of each individual customer. What those needs are, ExperienceTravel's crew often discovers at people's kitchen tables. Van Uden: "We have an intake interview with each client and map out everything: what kind of hotel you prefer to sleep in, which airlines, what hobbies and interests you have and how active a trip can be. We ask questions to find out what the client really needs in order to have a better trip. And from our expertise we make suggestions to make a trip even better.
This is still the basic principle of ExperienceTravel. This approach proved a success, as the Den Bosch Bosch-based travel company now offers more than one hundred and fifty destinations worldwide; from Spitsbergen to Antarctica and from Fiji to the Caribbean. 'An average trip with us costs about 30,000 euros. But a booking of 40,000, 50,000 or a ton is no stranger to us. We have built our brand around a customer group: the 9.8 percent most affluent Dutch. With us it's only about quality, the price is the result of your wishes. We want to make something that suits you, a personal dream trip.'
We were all the more surprised when Silverjet Vakanties, which offers fifty percent of its travel through travel agencies, took over in November 2024. Why this choice?
'In the field of distant tours, we are leading in the Netherlands with ExperienceTravel, but in the luxury vacation segment we did not yet know how to reach the level of Silverjet Vakanties. They really have quite a finger in the pie in that market. In that respect, there is an English proverb that describes this situation nicely: if you can't beat them, join them. Of course I say that with a wink, but we are very happy to have been able to acquire such a big player.'
You distinguish between travel and vacations. Couldn't you build up a vacation branch yourself with Experience Travel?
'We tried that in the past, but it didn't really take off. This acquisition made me realize why we didn't and probably never would have succeeded. There is an essential difference in travel and vacations: during a vacation you go to one place, during a trip you go to several places. But organizationally, the difference is in purchasing, in sales, in systems, in marketing.... Because one is inspire, the other is book fast. One is long, the other is short. It really has nothing to do with each other, except that in the customer's perception it's the same thing. So from the customer point of view, I had to have Silverjet.'
But doesn't that require quite a cultural shift if you offer inspirational tours, exclusive cruises, adventurous city trips and luxury beach vacations under one roof, since in your opinion they are two different worlds?
'True, because the way the two businesses work is totally different. We are of the personal contact with the customer, venture another call to ask if these are really their wishes and suggest some more unique trips. At Silverjet, a vacation was booked and they more or less said: thank you, we'll take care of it. So I am now working with my executives to make that culture change. I take on the marketing, my wife Elke does the sales and Marlous Willekens does the product. And all three of us point to more proactivity among Silverjet's employees, because that's essential in how we work. Their IT system was actually set up so that they didn't have to think for themselves. But if we want to continue to make a difference into the future, they will have to.'
Looking back, the corona period was decisive for your business.
'In that corona period we didn't book a single trip for two years and didn't earn a single euro. But I did keep my 50 people working. It was a tough period, but I'm still proud that I didn't have to lay off a single employee. We all spent two years further optimizing our organization. I always say: the product should be an 8 and the operation should be a 7. Because our people do make that a 10. Product development made no sense at all at that time, so we threw ourselves into operations and turned that 7 into a 9.'
In terms of revenue, you were thrown back two years. After the corona period you said resolutely: revenue must reach 100 million euros within three years.
'Yes, in terms of pure revenue it did. But our business was two years along. We lost a lot of money because of corona, but we grew as an organization. I only then realized that it's not just about two years of catching up. I still need the next two years to polish off those losses. So I actually lost four years of my business life because of that crappy period. I also turned fifty, so then you get a little more in a hurry. Then I said: in the next three years we have to go from 30 million to 100 million in revenue. You have to make that picket line, or it won't happen.'
Such a significant sales growth can only be achieved if you buy revenue. How much does the counter stand at after the acquisition of Silverjet?
'At around 65 million euros, a doubling. But you know that if you have to go from 30 to 100 million in 36 months, that's just not going to work organically. We acquired Thika Travel in 2020 and Van Helden Travel in 2023. But these were relatively small acquisitions. And a year later Silverjet, although we've actually been dancing around each other for 12 years. I never concealed my interest in Silverjet and even actively inquired several times about the possibilities of an acquisition. However, the answer was always the same: founder Rob Bremer was still having too much fun and wanted to continue for a while. In 2024 the green light was finally given: he was willing to hand over his 'baby', but wanted to be sure that it would end up in good hands. We are one of the few organizations in the Netherlands that can take his baby forward in a nice way and he was actually the only other business with this volume in that market.'
So you knew for twelve years that this acquisition was going to happen one day?
'No, it didn't. If you call someone at 65 to ask how he would look at a takeover and you have to wait until he's 77, at some point you no longer assume every year that he's going to fall.'
Does that also mean that you were out pretty quickly?
'Absolutely not. It took another year and a half before we had a deal. We came to the table first and last, which was also our strategy. In between was actually a year of radio silence. See, Rob and I grew up together in the same market at the same time. So you could actually plot out what the parameters of Silverjet should be. We knew where the pain points were in his business and where the opportunities were. And for the opportunities I wanted to pay and for the pain points I didn't want to pay. And he wanted to be paid for everything.'
So where were those pain points?
'I am contractually not allowed to say too much about it. But one difference is that Silverjet was able to sell vacations when Europe went off the corona lock again. Those bookings ran like crazy then. But once the rest of the world reopened, customers went back to normal. So Silverjet booked a lot of revenue during the period. Well, I'll take that field hockey stick out then. But we have known each other for years and there is mutual respect and trust. I put a fairly rational proposal on the table, which Rob finally agreed to. Because we have to be able to earn back the takeover amount quickly enough.
Another 35 million euros until you reach your goal. Then there must be more acquisitions in the pipeline.
'Not at the moment. I don't necessarily have to become big for the sake of becoming big, an acquisition candidate has to suit us. Because I'm not 'going out' of my target market. And we don't really need to buy products, we can develop them ourselves. Finding the right customer is much more difficult. That is the strength of our business. In addition to our custom work, we are currently developing trips that are not accessible, but that our customers themselves would like. For example, travelers can visit the Louvre after closing time to admire the Mona Lisa in peace and quiet, watch the Ryder Cup golf match from the exclusive Captains Deck, or go to Necker Island, Richard Branson's private island to meet the British businessman. This also generates additional revenue.'
I can imagine that in the higher segment in which you operate and with the size you now have, investors knock on your door to jointly roll out a buy-and-build strategy.
'Weekly.'
But you haven't taken the plunge yet.
'No. I believe in finishing what you are doing first. And for me that is currently the integration of Silverjet. But if we are going to do the game of strategic acquisitions in our segment, I see a lot of potential in that. I already have the A4 sheet ready, you know.'
An A4 sheet of...?
'With a growth plan to get to 500 million euro revenue, through an international buy-and-build method. I do see international competitors trying buy-and-build. But the problem is, you can't buy passion. And if you buy a business in our industry, when the selling entrepreneur leaves, that passion goes away too. So you need a madman who understands that game.'
Who sits opposite me, it seems to me.
'Haha, that could just happen.'
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