When Apple Leisure Group was sold to private equity giant KKR last year, evidence suggested the leisure travel giant would hunt for more deals to expand its portfolio. Apple Leisure Group announced Monday it will merge with Mark Travel Corp, a longtime player in the leisure travel and travel technology sectors. Apple Leisure Group, which traces its roots to 1969, operates a vertically integrated series of vacation companies ranging from destination management and hotel management services to online booking sites for consumers. Alex Zozaya, CEO of Apple Leisure Group, will be leading the combined company. Mark Travel's technology arm, Trisept Solutions, which provides travel agency technology solutions, is also part of the deal.
Apple Leisure Group and Mark Travel Corporation Announce Merger
Apple Leisure Group and The Mark Travel Corporation (TMTC) have signed an agreement to merge the two companies into "an integrated leisure travel and technology solutions company," the two announced in a statement on Monday. All Mark Travel brands, including Funjet Vacations, will be part of the merger, which is expected to be completed in the second quarter of 2018, subject to regulatory approvals. Apple Leisure is the parent company of AMResorts, AmStar, Apple Vacations, Travel Impressions and CheapCaribbean.com. All three of the companies involved in the deal—Apple Leisure Group, Mark Travel, and Mark Travel's sister company Trisept—will continue to operate as singular brands and maintain their own executive offices. A spokesperson for Apple Leisure Group confirmed to TMR on Monday that Apple had purchased Mark Travel.
Apple Leisure Group, The Mark Travel Corporation Set to Merge
according to Apple Leisure Group and The Mark Travel Corporation have signed a definitive agreement to merge "to create an integrated leisure travel and technology solutions company," according to a new release by both companies. The transaction is expected to close in the second quarter of 2018, and is subject to customary regulatory approvals. "In an intensely competitive industry, our combined company will be well-positioned to provide great value for consumers and customers while continuing to serve the needs of our partners across the travel industry," said Alex Zozaya, who will lead the combined company as CEO. LEARN MOREThe combined company will continue to operate the collection of brands offered by both Apple Leisure Group, Mark Travel and Trisept Solutions, and maintain principal executive offices in Newtown Square, PA, and Milwaukee, WI. "By combining our technology and distribution capabilities with the breadth of resorts and service offerings of Apple Leisure Group, we will grow the business and further enhance our commitment and service to customers, travel agents, and suppliers."Apple Leisure Group hopes distribution businesses, including Apple Vacations, Cheap Caribbean and Travel Impressions, will benefit from the integration of leading edge technology for travel merchandising and distribution solutions.Author
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