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Apollo Funds to acquire The Travel Corporation
The Travel Corporation (TTC), privately owned for more than a century, is about to get a new owner.
Apollo Funds has agreed a deal to acquire most of TTC.
The transaction covers most brands, including escorted tour operator Trafalgar, river cruise operator Uniworld; Contiki and Insight Vacations.
“For more than 104 years our family has built TTC into an industry leader. Without a next generation to lead TTC, the time has come to select a new owner,” said TTC Chairman Brett Tollman.
“We will support a seamless transition and are confident the team at Apollo will continue driving the business.”
Apollo Private Equity Partner Michele Raba said, “TTC has a leading collection of brands that we believe we can take to the next level as an Apollo Funds portfolio company, leveraging our extensive experience in travel.”
The transaction is expected to close in the fourth quarter of 2024.
Certain brands are not included in the sale, notably The Red Carnation Hotel Collection, which will remain under the control of the Tollman family.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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