Japanese travel giant JTB has recently acquired the parent company of Bangkok-based EXO Travel, bringing one of Asia’s leading destination management companies (DMCs) into its global portfolio as it continues its international expansion strategy.
Founded in 1993, EXO Travel has grown into one of Asia’s largest DMCs, operating across Thailand, Vietnam, Cambodia, Laos, Indonesia, Malaysia, Singapore, Japan, South Korea and Myanmar, as well as Egypt and Morocco. The company is recognized for its tailor-made travel experiences, sustainability initiatives, and strong relationships with travel advisors and tour operators worldwide.
EXO Travel Group CEO, Hamish Keith, spoke in exclusivity with Travelmole about the significance of JTB acquisition for the DMC.
What are the elements that made JTB Group ready to invest in EXO?
Hamish Keith – For JTB, this investment is a major cornerstone of its strategic shift toward truly building a global network and delivering on its “Departing Globally, Arriving Globally” vision. The company was looking for an established player with a strong footprint in Western source markets like Europe, North America, and Australia, which EXO has spent more than 30 years building. Beyond our extensive service infrastructure across Asia and our expansion into Africa, JTB was interested in our proprietary digital technology and our deep-rooted commitment to sustainability as a B Corp-certified DMC. They saw a company that was culturally aligned, digitally advanced, and perfectly positioned to help them scale globally.
What does JTB’s investment in EXO mean for the DMC? Will it have an effect on programs, itineraries, or innovative service products?
Hamish Keith – Operationally, it is business as usual for our leadership and teams, but joining the JTB Group injects a massive boost in global scale and resources. There will be no change in services for our clients, and EXO will continue as an innovative, experience-focused DMC. We will, of course, leverage synergies with JTB/GMT where it makes strategic sense to enhance our regional offerings.
Do you think EXO will have to reorient its offerings to Japanese tastes (management and consumers)?
Hamish Keith – We don’t see a need to reorient our core DNA. JTB specifically chose to invest in EXO because of our unique expertise in serving discerning Western markets, and EXO will not be pivoting toward the Japanese market. Our success is anchored in local, tailor-made, high-service experiences, which universally appeal to luxury travelers anyway. This partnership is about expansion and integration rather than a pivot in our product offering. As we optimize our operations with JTB’s massive network, we will naturally refine our capabilities to capture new opportunities, but our core identity and business focus remain unchanged.
Does JTB Group have plans to further expand EXO in terms of destination coverage or tourism-related activities (sports, adventure, environment, culture, etc.)?
Hamish Keith – JTB’s goal is to establish itself as the world’s leading DMC network, so combining EXO’s regional footprint with JTB’s global scale creates a natural runway for growth. While I can’t share specific roadmaps, we are actively looking to expand our footprint across Asia and Africa. We will continue to invest heavily in our core pillars of luxury travel, sustainability, adventure, and deeply immersive cultural experiences across both our current and future destinations.
What is your outlook for inbound markets this year and Southeast Asian destinations? Which destinations are gaining in popularity?
Hamish Keith – The inbound recovery across Southeast Asia this year is being driven by a distinct shift toward slower, higher-spending experiential travel. Thailand and Vietnam continue to experience strong demand, with Thailand’s flexible visa policies keeping it ahead and Vietnam’s luxury eco-resort boom appealing strongly to long-haul markets.
Indonesia—moving beyond just Bali—and Malaysia are also gaining major traction as travelers seek out nature-driven, secondary destinations. Japan continues to experience huge demand with no signs of slowing down, and adding Korea to our portfolio means we have a wider range of complementary products in East Asia, where we expect to see continued growth.
EXO is a sustainable, experiential DMC, and a major part of our mission is to promote tourism away from increasingly overcrowded main centers and into lesser-visited areas where travel can do more good. This allows travelers to better connect with communities and enjoy more rewarding experiences. Our newer destinations in North Africa already had a strong start, and we look to grow our footprint across Africa as well as Asia.
