Apple Leisure Group and The Mark Travel Corporation to Join Forces
NEWTOWN SQUARE, Pa. & MILWAUKEE--(BUSINESS WIRE)--Apr 2, 2018--Apple Leisure Group and The Mark Travel Corporation (“Mark Travel”), two North American travel companies with premier brands offering a broad range of attractive travel and vacation experiences, have signed a definitive agreement to join forces to create an integrated leisure travel and technology solutions company. Financial terms of the private transaction were not disclosed.
Apple Leisure Group is a leading seller of all-inclusive vacation packages, with capabilities and expertise to deliver exceptional value to travelers, as well as distribution reach and resort management expertise for hotel owners. Mark Travel a recognized leader of owned and managed vacation brands including Funjet Vacations. Trisept Solutions, a sister company of Mark Travel widely recognized as providing industry-leading leisure travel technology will also be part of the combined company.
“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 Chief Executive Officer. “This strategic combination will leverage the complementary strengths of both companies to provide new and enhanced products and solutions to our customers and partners. We are excited to join forces and are grateful for the continued participation of Bill La Macchia and Bill La Macchia, Jr. who will remain active in the combined business, including serving as members of the combined company’s Board of Directors.”
The 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, Pennsylvania, and Milwaukee, Wisconsin.
“Mark Travel is trusted by leading airlines and hoteliers to manage their vacation brands, and we have built our business to provide memorable end-to-end vacation experiences,” said Bill La Macchia, Founder, Chairman and Chief Executive Officer of Mark Travel. “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 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. Mark Travel’s tour businesses will also gain access to 52 high-end resorts and spas operating under the Zoëtry®, Secrets®, Dreams®, Breathless®, Now™ and Sunscape® brands.
The transaction is expected to close in the second quarter of 2018, and is subject to customary regulatory approvals.
About Apple Leisure Group
Apple Leisure Group® is a leading hospitality company in the North American travel industry. Its vertically integrated business model and robust infrastructure leverages the expertise of six innovative subsidiaries to deliver exceptional value to savvy travelers and strong resort performance to owners. ALG’s award-winning subsidiaries include: AMResorts®, provider of hotel management services under six luxury resort brands; Apple Vacations®, a tour operator primarily for destinations in Mexico and the Dominican Republic; Travel Impressions®, a prominent U.S. wholesaler possessing an extensive global portfolio; CheapCaribbean.com®, a popular online travel agency specializing in luxury vacation packages and resort accommodations in Mexico and the Caribbean; Amstar DMC, a destination management company offering premium airport transfers, tours and excursions; and Unlimited Vacation Club®, AMResorts’ popular guest loyalty program for discerning travelers who expect the very best in a vacation experience. For more information on Apple Leisure Group®, visit www.appleleisuregroup.com.
About The Mark Travel Corporation and Trisept Solutions
The Mark Travel Corporation, through its subsidiaries, provides leisure travel services to various destinations worldwide. It manages vacation brands of various airlines and hoteliers. The Mark Travel Corporation was founded in 1974 and is headquartered in Milwaukee, Wisconsin, with additional locations throughout the United States. Trisept Solutions has a strong, modern technology operating suite that connects over 88,000 agents with leading travel suppliers. The Mark Travel Corporation and Trisept Solutions operate as subsidiaries of La Macchia Enterprises, Inc. For more information on The Mark Travel Corporation, visit www.marktravel.com. For more information on Trisept Solutions, visit www.triseptsolutions.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180402005718/en/
For Apple Leisure Group:
Charlyn Lusk, 646-502-3549
For The Mark Travel Corporation
Randi Becker, 414-934-1163
Vice President Industry & Community Relations
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA WISCONSIN
INDUSTRY KEYWORD: TRAVEL CRUISE DESTINATIONS VACATION LODGING TRANSPORTATION OTHER TRAVEL
SOURCE: Apple Leisure Group
Copyright Business Wire 2018.
PUB: 04/02/2018 02:32 PM/DISC: 04/02/2018 02:32 PM