The next major industry consolidation has been announced with the merger of two major players.
Apple Leisure Group and The Mark Travel Corporation will join forces to combine their respective businesses.
The financial terms of the private transaction have not been disclosed but the deal will be completed by the second quarter of this year.
The merger will create an integrated leisure travel and technology solutions company to meet the challenges in an intensely competitive industry and ‘leverage the complementary strengths of both companies.’
It brings together more than a dozen brands including Apple Leisure’s AMResorts, Apple Vacations, Travel Impressions and Unlimited Vacation Club alongside Mark Travel’s Funjet Vacations, Southwest Vacations, United Vacations and tech company Trisept Solutions.
ALG’s Alex Zozaya, will lead the combined company as CEO and Mark Travel’s Bill La Macchia and Bill La Macchia, Jr wuill continue to play an active role including as members of the combined company’s board of directors.
The business will maintain executive offices in Newtown Square, Pennsylvania and Milwaukee.
"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," said Bill La Macchia.
