Published on : Monday, July 31, 2017
The financial dealings were not yet disclosed, there is a combined $24 billion in annual sales between the two and they further intend to operate under separate brands with the same leadership.
Altour will be held by Travel Leaders Group holdings, which also owns Travel Leaders Group as well.
Ninan Chacko will lead as the CEO of the Travel Leaders Group, Alexandre Chemla will remain as the Altour president and CEO. Chemla will join the Travel Leaders Group’s board and will also be among the shareholders.
The companies excel in providing travel with leisure and luxury while Altour has a strong hold in the UK.
Chako mentioned that the ProTravel and Tzell Travel have fascinating business models and index highly at the luxury level. It is different from other units, we found someone having the same characteristics, independent contractors, luxury, spanning and corporate.
Combing travel agencies has its own benefit, it creates a competitive edge in the market depending on earnings and marketing.
Robert Joselyn, consultant and founder of TAMS, a service providing financial guidance to travel agency said that through acquisition companies wants to expand and increase profitability, by combining a larger revenue is generated from sales.
Travel Leaders Group known to be extremely active in acquiring and merging with agencies is the largest US travel agency by volume and number of agents. Further focus will be on developing technology tools that can be used across both companies.
Barry Noskeau mentioned that the individual relationships with travel providers will be maintained and the merger will get official by mid-August.
Based on their new scale their supplier relationships will also be reevaluated.
Travel Leaders Group will have an international marketplace due to the merger, the company recently removed Vaction.com.
Chacko further mentioned that they want to broaden the scope of their work, the complimentary aspect on the West Coast and in the UK is satisfactory. However, the focus on international opportunities has existed independently.