The operation will be completed during 2018’s second quarter.
Since Apple Leisure Group was sold by private equity KKR around a year ago, the company did not hide its intention to expand its portfolio. Apple Leisure Group announced it will merge with The Mark Travel Corporation but the financial terms of the deal have not been presented yet.
Apple Leisure Group was founded in 1969 and operates a vertically integrated series of vacation companies in the US travel industry. It also sells all-inclusive packages in Central America. The Mark Travel Corporation was created in 1974 and owned and managed several vacation brands around the world.
Alex Zozaya, Apple Leisure Group’s CEO will be leading the combined company. He declared: “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.”
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