who owns lonely planet

[4] Geoff Crowther was renowned for frequently inserting his opinions into the text of the guides he wrote. The deal terms are not clear yet, however in an earlier version of this story, according to our sources, Kelley's NC2 media would buy a majority controlling stake in Lonely Planet, and BBC Worldwide, the commercial arm of BBC which bought LP, will retain a small-but-sizable stake to help maintain editorial control through current management, as well as save on inter-country taxes. While it is unclear what role OutWild will have with Lonely Planet, its founder/principal Daniel Houghton will be Lonely Planet's new chief operating officer. We asked the planet's top chefs and food writers to name their favourite gastronomic encounters. [25] In 2009, the NLD formally dropped its previous stance and now welcomes visitors "who are keen to promote the welfare of the common people". Having bought 75 percent of Lonely Planet at the height of the bubble in 2007 for US$143 million, and the rest in February of 2011 for an additional US$67 million, BBC has gone though various bouts of buyer’s remorse over the years, but has not acted on it beyond writing down the value of its investment twice. Kelley spent the 1990s selling discount cigarette brands like USA Gold, Bull Durham, and Malibu, then sold the company for almost US$1 billion in 2001, and parlayed that money into becoming the one of the largest land owners and conservationists in United States. [7] Lonely Planet's first book, Across Asia on the Cheap,[8] had 94 pages, was written by the couple in their home. Lonely Planet Kids: The Round-the-World Quiz Book Challenge your friends and family to the ultimate quiz. UPDATE: Lonely Planet, the storied travel guidebooks publisher, has been sold by its parent company BBC Worldwide for US$75 million to NC2 Media -- a significant decrease on its original purchase price. [13] BBC Worldwide acquired the remaining 25% of the company for £42.1 million (A$67.2 million) from the Wheelers. For the theatrical work, see, Oxford and Cambridge Far Eastern Expedition, "BBC gives Lonely Planet guides a home in first major acquisition", "The 25-Year-Old at the Helm of Lonely Planet", "U.S. Lonely Planet's online community, the Thorn Tree,[17] was created in 1996. BBC wrote down investment to £85 milion (US$128 million) in July 2012. Co-founder of Lonely Planet, Tony Wheeler sold his enterprise to the BBC in 2011. Reading Time: 4 minutes Lonely Planet’s annual Best in Travel list is always a highly anticipated, hotly discussed wrap up of what’s trending around the world in the upcoming year – and the 2020 edition is no exception, with the tiny Himalayan kingdom of Bhutan clocking in at number one.. [26][27], Publisher of guidebooks and other media related to travel, This article is about the guidebook publisher. The world's top 500 food experiences- ranked! Kelley is an investor in a small travel startup called OutwildTV, a website using video to document the adventures of travel journalists. This sale finally comes after BBC has sat on a LP sale decision for a few years now, going back and forth on their thinking of what to do with the brand that it bought at an inflated valuation in 2007. This post contains references to products from one or more of our advertisers. Around 500 BC the Redin either left or were absorbed by Buddhists, probably from Sri Lanka, and by Hindus from northwest India. BBC Worldwide said it had been "exploring strategic options for Lonely Planet over the last year and was keen to find a new owner that could bring greater focus and capital to the business. Lonely Planet is a large travel guide book publisher. [9] The company was publishing 500 titles and ventured into television production. CHARLOTTE, N.C., Dec. 1, 2020 /PRNewswire/ -- Red Ventures, a platform of digital businesses, has acquired Lonely Planet, a leading global travel media company and … There are many reasons why Bhutan is such an appealing travel destination. A friend of his, Carl, a gay man in his 30s, is a frequent visitor to the store. And there’s also the disappointing reminder of how little its competitor -- and superior in the U.S. -- Frommer’s went for in its sale earlier this year to Google. This book is packed with more than 500 questions about our planet to boggle your brain and blow your mind. Submit your details using the Your Business form and we'll pass all of your information on to the relevant writer for their consideration.. The sale price is way below what BBC originally paid for it, which was a total of US$210 million spread over roughly four years starting in 2007. Thorn Tree has many different forum categories including different countries, places to visit depending on one's interests, travel buddies, and Lonely Planet support. [16]. Tony Wheeler, co-founder of Lonely Planet, said he was "shocked" to hear the company was winding down its Australian office. [21][22], In 1996, in response to a "Visit Myanmar" campaign by the Burmese military government, the Burmese opposition National League for Democracy (NLD) and its leader Aung San Suu Kyi called for a tourism boycott. About a quarter of LP’s revenues now come from digital -- which includes its various mobile apps as well -- and that’s where it sees the future for the iconic travel brand. [11], The Lonely Planet guide book series initially expanded in Asia, with the India guide book in 1981,[12] and expanded to rest of the world. Sources say Kelley -- whose primary residence is now in Boca Grande, Florida -- is more likely the second or third largest landowner in U.S., not fourth as WSJ reported in a rare story on him last year, as he downplays his holdings and a lot of his deals to buy land never surface in media. [citation needed], A mention in a Lonely Planet guidebook can draw large numbers of travellers, which changes places mentioned. We may receive compensation for clicking The journalist used the term "Geoffness", in tribute to Crowther, to describe a quality that has been lost in travel guides. The legendary sun-worshipping people called the Redin may have descended from one of these groups. In 2007, the Wheelers and John Singleton sold a 75% stake in the company to BBC Worldwide, worth an estimated £63 million at the time. For more TPG news, deals and points and miles tips delivered each morning to your inbox, subscribe to our daily newsletter. • Lonely Planet TV: 350+ episodes of award-winning travel shows. BBC’s thinking on the future of Lonely Planet has likely changed over the 2012 calendar year, in part spurred by its rethink on the future of its commercial efforts and the limits it has on exploiting a complementary Lonely Planet brand and BBC Travel in the UK. [3] As of 2011[update], the company had sold 120 million books since inception. Sip the water of life, whisky, in an ancient pub, trace the trails of the clanspeople fleeing Glen Coe, or play a round in St Andrew's, golf's spiritual home -all with yo Red Ventures, a media company that owns brands such as The Points Guy, CNET and Bankrate, has acquired Lonely Planet from NC2 Media. Lonely Planet said the addition of new stretches of the almost 3,000 mile-long England Coast Path in 2020 would allow visitors to "explore beaches and foreshores right up … It is used by over 600,000 travelers to share their experiences and look for advice. One visit to the exhibit “Oceans in Crisis” at Monterey Bay Aquarium in 2001 inspired founder Bill Carvalho to transform his family seafood company into Wild Planet Foods – the first large-scale sustainably focused seafood company in the US. The company that also owns The Points Guy has bought Lonely Planet, the online guide for travel information, for an undisclosed sum. With different difficulty levels, there’s sure to be trivia tricky enough in The Round-the-World Quiz Book to fox the whole family. Lonely Planet offices continue to operate in Dublin - Ireland, Franklin - USA, New Dehli - India and Beijing - China. TPG parent company Red Ventures announced Tuesday morning that it is buying the storied travel company Lonely Planet from NC2 Media. For example, Lonely Planet has been blamed for the rise of what is sometimes referred to as 'the Banana Pancake Trail' in South East Asia. Buyer for BBC's Book Unit on Travel", "Lonely Planet shuts Australian office, staff laid off due to COVID-19", "Skift Forum Video: Lonely Planet's CEO on the Future of Travel Content", National Geographic Channel Australia and New Zealand, "Pictures courtesy of Lonely Planet Publications", "Suu Kyi's party ends opposition to tourism", "Lonely Planet corrects 'misleading' post on Banaue Rice Terraces", "Lonely Planet admits error in Banaue Rice Terraces video 'misleading, American Hotel & Lodging Educational Institute, Travel and Tourism Competitiveness Report, World Federation of Travel Journalists and Writers, UNESCO Intangible Cultural Heritage Lists, https://en.wikipedia.org/w/index.php?title=Lonely_Planet&oldid=992178585, Articles containing potentially dated statements from 2011, All articles containing potentially dated statements, Wikipedia articles in need of updating from January 2019, All Wikipedia articles in need of updating, Articles with unsourced statements from February 2019, Wikipedia articles with BIBSYS identifiers, Wikipedia articles with CINII identifiers, Wikipedia articles with SUDOC identifiers, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, This page was last edited on 3 December 2020, at 22:33. In 1972, they embarked on an overland trip through Europe and Asia to Australia, following the route of the Oxford and Cambridge Far Eastern Expedition. [18] The tree still exists in the Stanley Hotel, Nairobi. [4][needs update], Lonely Planet was founded by married couple Maureen and Tony Wheeler. Story from Rafat Ali, at Skift, and updated March 19, 2013 by CNN Travel staff to reflect the Lonely Planet sale. The company's authors consequently benefited from profit-sharing and expensive events were held at the Melbourne office, at which limousines would arrive, filled with Lonely Planet employees.[4]. The companies did … The buyer is a doozy: NC2 Media's primary shareholder is reclusive Kentucky billionaire Brad Kelley. The BBC most recently valued LP at about US$135 million, down US$78 million since it bought it. This will also mean that Lonely Planet is likely to finally make an exit from Australia, its historical base of operations, and move to United States wholesale, though there may well be an interim base in London, leveraging BBC, to ease in transition. Lonely Planet, the venerable publisher of travel guides, children's and food books, has been sold to Red Ventures by its owner NC2 Media for an undisclosed sum. [5][6], The company name originates from the misheard "lovely planet" in a song written by Matthew Moore. In 2009, Lonely Planet began publishing a monthly travel magazine called Lonely Planet Traveller. The relatively unknown NC2 purchased Lonely Planet from the BBC in 2013 for £51.5 million (about $80 million based on exchange rates at the time). The … Buy direct from Lonely Planet – the world’s best travel guidebooks CHARLOTTE, N.C., Dec. 1, 2020 /PRNewswire/ -- Red Ventures, a platform of digital businesses, has acquired Lonely Planet, a leading global travel media company and … Houghton has been one of Kelley’s point men in all discussions with the BBC up to this point. Lonely Planet ownership made another continental leap, Australian to British to American. A reclusive American land owner and conservationist will take over the Lonely Planet brand -- but what's he going to do with it? CHARLOTTE, N.C., Dec. 1, 2020 /PRNewswire/ -- Red Ventures, a platform of digital businesses, has acquired Lonely Planet, a leading global travel media company and … ", "NC2 Media demonstrated a commitment to invest in Lonely Planet and today’s announcement concludes the process to find the right buyer.". The new chief executive was 24-year-old Daniel Houghton. Red Ventures is a … BBC Worldwide struggled following the acquisition, registering a £3.2 million loss in the year to the end of March 2009. [14], By 2012 BBC wanted to divest itself of the company and in March 2013 confirmed the sale of Lonely Planet to Brad Kelley's NC2 Media for US$77.8 million (£51.5 million), at nearly an £80 million (US$118.89 million) loss. Get to the heart of a destination with Guides by Lonely Planet! But for how much longer? Credit: Max Seigal "Due to … He’s incredibly thorough, doesn’t overpay, doesn’t do vanity buys and looks at them long term. The iconic travel guides, a backpacker staple. According to friends of Kelley Skift has spoken to, any acquisitions he makes are always well thought out. But investment firm Red Ventures is betting that travel-related media consumption will come back. BBC Worldwide acquired a 75 percent stake in Lonely Planet in 2007 for £88.1 million (US$133 million). In 2013, BBC Worldwide sold Lonely Planet to NC2 Media for around $80 million (£51.5 million), after having bought 75 percent ownership of the brand from company founder Tony Wheeler in … The London-based firm creates and owns all its tours and operates them through its network of over 1,000 handpicked local guides. Lonely Planet and the rapid decline of the printed guidebook, Asia is the new king of tourism and everyone else is along for the ride, Amrak targets business travelers in new ad campaign. According to a report in the Guardian, NC2 Media, in which Kelley is the primary shareholder, has pledged to invest in the Lonely Planet business. But investment firm Red Ventures is betting that travel-related media consumption will come back. Lonely Planet's digital presence included 140 apps and 8.5 million unique users for lonelyplanet.com, which hosted the Thorn Tree travel forum. Lonely Planet plot summary, character breakdowns, context and analysis, and performance video clips. NC2 is headquartered in Nashville and is "primarily engaged in the creation, acquisition, and distribution of quality digital content and the development of the technologies to make that possible," its website says. [15], In April 2020 Lonely Planet made the decision to close its Australian and London offices and reduce staffing levels globally in response to the downturn in the travel industry resulting from the COVID-19 pandemic. The company continued to publish its guidebooks, phrasebooks, maps, children's books and inspirational pictorials but chose to close its magazine. [23] As the publication of Lonely Planet's guidebook to Myanmar (Burma) is seen by some as an encouragement to visit that country, this led to calls for a boycott of Lonely Planet. It is named for a Naivasha thorn tree (Acacia xanthophloea) that has been used as a message board for the city of Nairobi, Kenya since 1902. Lonely Planet is a charming, funny and ultimately moving play about two gay friends: Carl, a flamboyant man with an unusually vivid imagination and multiple, ever-changing occupations; and Jody, a cautious and thoughtful man who has insulated himself in the map store he owns, afraid to venture out in the world and get tested for AIDS. Billionaire Brad Kelley '' to hear the company was winding down its Australian office, Franklin - USA new... Handpicked local guides USA, new Dehli - India and Beijing -.. • My Lonely Planet, said he was `` shocked '' to hear the company that owns... Over 1,000 handpicked local guides our advertisers was one of Kelley ’ s sure to be tricky. Number of countries favourite gastronomic encounters who owns lonely planet year to the ultimate Quiz back of other recent deals travel Curious announced... Into television production 's online community, the Thorn Tree, [ 17 ] was created 1996... 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