Apple Leisure Group and The Mark Travel Corporation 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 travellers, as well as distribution reach and resort management expertise for hotel owners.
Mark Travel is 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.
Alex Zozaya, who will lead the combined company as CEO, commented: “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. This strategic combination will leverage the complementary strengths of both companies to provide new and enhanced products and solutions to our customers and partners.”
Zozaya continued: “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 companys 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.
Bill La Macchia, founder, chairman and CEO of Mark Travel, observed: “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. 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 Travels 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.