Intrepid Travel and TUI Travel PLC have announced the formation of PEAK Adventure Travel Group, an alliance of independently managed adventure travel specialists.

PEAK will combine Intrepid with TUI’s global portfolio of adventure brands, forming a strategic venture of 20 businesses with a combined revenue of AUD400 million.

Intrepid co-founder Darrell Wade has been named chief executive of PEAK, with TUI’s John Wimbleton announced as chairman of its board.

"With the adventure travel market set to grow significantly in the coming years, this new venture will firmly position PEAK Adventures as the sector’s global leader,” PEAK Adventures chief executive Darrell Wade said. 

“In addition to providing a one-stop shop for adventure experiences, the  creation of an independently managed company offers enormous potential to introduce new products for agents to sell while cost synergies across the business will potentially deliver greater value holidays to a fast-growing sector."

PEAK Adventures will look to provide new opportunities for growth including new products, markets and destinations through a multi-channel and multi-brand strategy.