Apple Leisure Group to acquire Travel Impressions from Amex

American Express Travel Related Services Company Inc. and Apple Leisure Group have entered into an agreement under which Apple will acquire Amex’s global tour operator business, including Travel Impressions.

Apple will also acquire American Express Vacations International, Amex’s international tour operator businesses in Europe and Mexico, which is managed by Travel Impressions.

The transaction is expected to be completed by the end of the second quarter. Additional terms were not disclosed.

Under the agreement, Travel Impressions will be a preferred supplier of American Express Travel, Amex’s travel agency network. It will license the American Express Vacations brand and will remain the exclusive supplier of packaged vacation products and services sold through the brand to American Express Travel##Q##s customers.

Travel Impressions will continue to operate its business under the existing brand name, and will continue to selling its products beyond those provided to American Express.

“We are very pleased with the acquisition of Travel Impressions and the international tour operator business, which have an outstanding reputation for providing successful customer-centric programs and processes,” Jeff Mullen, co-president of Apple Vacations (the tour operator division of Apple Leisure Group), said in a statement.

Tim Mullen, co-president of Apple Vacations, stated, “This strategic transaction provides a tremendous opportunity to enhance the Apple Leisure Group portfolio and drive greater value and service to our customers by taking advantage of the strong executive and employee teams of both companies to promote sustained industry leadership.”

Private investment firm Bain Capital Partners invested in Apple Leisure Group in December 2012, and served as a close strategic partner with Apple’s management team in driving this next phase of growth.

Travel Impressions CEO Steve Gorga said, “This is the right next step for our company.”

Travel Impressions and Apple Vacations have long been competitors in the industry, both having built their business on selling packages to fun-and-sun destinations and beyond.

Travel Impressions was founded in 1974 and offers packages to more than 200 destinations.

Apple Leisure Group is a holding company comprised of Apple Vacations; AMResorts, a hotel management company; Amstar, a destination-management company; and Unlimited Vacation Club, a members-only travel club.

Follow Michelle Baran on Twitter @mbtravelweekly.

Source Article from
Apple Leisure Group to acquire Travel Impressions from Amex
Travel Weekly##Q##s Top Stories
Today##Q##s Top Stories from Travel Weekly

Andy is a multi-faceted personality with diverse life interests. He sees life as a journey to be fulfilled in best possible, enjoyable way. He has tried his best to combine the subjects that is interesting for him into this awesome site. In his professional career, Andy is an experienced startup specialist and serial Entrepreneur having started over 20 companies in Thailand/SE Asia. His personal side evolves a passion for photography, philosophy and travel. To know more about him –

More in Travel
Norwegian Cruise Line wants sellers to shun CruiseCompete

Norwegian Cruise Line is asking travel agents to stop working with CruiseCompete, the 10-year old firm in Des Moines, Iowa, that solicits bids from agents on cruises sought by consumers....

Rolling on the rivers

AMSTERDAM -- The invitation suggested it was going to be an intimate cocktail hour with Torstein Hagen, the outspoken chairman and CEO of Viking River Cruises, to celebrate the simultaneous...