Mariano Dima: “Experiences is the next thing to crack but it’s far more fragmented and harder to get right”
If anyone needed convincing that the tours and activities sector is the next battleground for online travel, it’s the latest announcement from Expedia Group that it has entered into an agreement to acquire Tiqets, an Amsterdam-based global platform for activities and experiences.
In November, Asia-based Klook filed for a US IPO in November, with plans to raise between US$300 million and US$500 million, although this has now been delayed to early 2026.
In November, Peek, which provides software for the experiences industry (museums, tours, activities) to manage bookings, operations, and guest experiences, raised $70 million in Series D funding, led by Springcoast Capital Partners, to scale its AI-powered “Experiences Operating System” for tours and activities, also acquiring ACME Ticketing and Connect&GO to expand its tech. This brings Peek’s total funding to over $189 million, supporting its platform used by major attractions like MoMA and the Whitney Museum.
Announcing its interest in Tiqets, Alfonso Paredes, President of B2B, Expedia Group, said, “The Tiqets integration is a key step toward our vision to build the most comprehensive, global travel solution powered by our expanded APIs, across activities, air, car and insurance.
“Tiqets capabilities fit seamlessly into our ecosystem, enhancing the offerings and value we deliver to partners and travellers. Their expertise in experiences complements our strengths in scale and technology, enabling us to accelerate innovation and unlock new growth opportunities.”
“Joining Expedia Group allows us to combine Expedia’s global reach and extensive partnership network with the unique platform of curated museums, attractions and experiences we have built in the last decade,” said Laurens Leurink, CEO, Tiqets. “Our shared strengths will transform how travellers and partners experience activities.”
The transaction, which remains subject to Works Council advice and other customary closing conditions, is expected to close in the first quarter of 2026.
The momentum over this multi-billion dollar segment – ranging from $250b to $400b depending which report you go by – is picking up worldwide.
In Asia, OTAs like Agoda, Traveloka and Trip.com Group are going all in on this vertical, intensifying competition for specialists such as Klook.
Adding spice to the sector, Klook’s arch rival, GetYourGuide, at its Unlocked Summit in Bangkok, declared its ambitions to expand in the region. Throwing down the gauntlet, it also announced it is finally profitable – on an adjusted EBITDA basis – and has been for the past year, with revenue approaching €1 billion for the last 12 full months. In Q3 2025, it saw a 30% increase in GMV and over 10 million experiences booked.
At Phocuswright, Mariano Dima, Chairman, Civitatis & Advisory Board Member, Klook, talked about how the experiences moment has finally arrived.
Mariano Dima, Chairman, Civitatis & Advisory Board Member, Klook
During a panel at the San Diego event, he said, “Ten years ago we talked about alternative accommodation. Look what happened. Experiences is the next thing to crack –but it’s far more fragmented and harder to get right.”
With 70% of the sector still offline, the growth runway is enormous.
“Supply clarity and product definition are the biggest gaps. In Rome you may see 80 options; others show five. Customers need simplicity – and truth,” he said.
What matters most now, according to him, are:
- Quality and clarity
- Product definition and transparency
- Better cancellation policies
- More creative, curated experiences
And increasingly, he believes, growth will be driven by Latin America and APAC, not just Europe and the US.
But with growth comes responsibility, he asserts. The big platforms must champion the soul of travel – SMEs, families, and local operators who anchor the industry’s authenticity.
“The core of experiences is that local walking guide in the middle of nowhere. We have a responsibility to train them, help them grow their business, and ensure they aren’t left behind.”
It’ll be interesting to watch scale battle with soul in this hot sector in 2026.
