Apollo Global Management, Inc. (APO), an asset management firm, announced on Tuesday that its funds will acquire The Travel Corporation (TTC). Although the financial details remain undisclosed, the transaction is expected to finalize in the fourth quarter of 2024.
Michele Raba, Apollo's Private Equity Partner, remarked, "TTC's portfolio of leading brands offers significant potential for growth as part of the Apollo Funds portfolio. We intend to leverage our substantial expertise in the travel, technology, and hospitality sectors to drive this progress."
The acquisition includes 18 prominent brands, such as Trafalgar, an escorted tour operator; Uniworld Boutique River Cruises, a luxury all-inclusive river cruise line; Contiki, a youth travel specialist tour company; Insight Vacations; and several other travel brands and supporting business entities. Apollo clarified that certain brands, including the Red Carnation Hotel Collection, are not part of the sale.
