Newly-combined New York City-headquartered travel agency powerhouses to represent over $2.35 billion in annual sales volume.
NEW YORK – New York City’s two premier travel companies are announcing that they’re joining forces: Tzell Travel Group – a Travel Leaders Group company – has signed an agreement to merge with Protravel International, Inc., pending government antitrust approval. The merged operations within Travel Leaders Group would represent combined annual sales volume of over $2.35 billion. Travel Leaders Group CEO Barry Liben has indicated that once the deal closes, Tzell and Protravel would continue operating “as is” with no plans to change the successful models both companies have created. Under the terms of the agreement, Protravel founder Priscilla Alexander would continue serving as its President.
Travel Leaders Group is headquartered in Minnesota and ranks among North America’s top five traditional travel agency enterprises, enjoying nearly $17 billion in annual sales volume in 2011 through its wholly-owned, franchised and member operations. As Travel Leaders Group’s leading wholly-owned agency, New York City-based Tzell Travel Group’s sales approached $1.5 billion last year. In turn, 2011 sales for Protravel exceeded $850 million. While it is anticipated that the merger will close in November, full terms of the deal will not be disclosed since both companies are privately held.
“Through the years, we have encountered many travel companies, but few formidable competitors have ever captured our admiration and respect to the extent that Protravel International has. I know I speak on behalf of everyone within our company when I say that we couldn’t be more thrilled to now join forces with such an exceptionally well-operated company,” stated Liben. “Protravel represents a crown jewel not only within the New York travel arena, but also throughout the United States and even internationally as they have established themselves as one of the industry’s top travel companies. We not only share very similar philosophies on the way we conduct business through a strong code of ethics, but like us, their success has been achieved by providing phenomenal service and expertise. Our companies complement each other exceedingly well.“
“Throughout our history dating back to 1984, we’ve been guided by a quest to be leaders in innovation and talent. Now, we’re excited to take our experience to the next level by combining forces throughout the United States with New York City’s other great travel agency leader: Tzell Travel Group. Together we now have 72 branches that extend to most major markets across the country and in the United Kingdom,” noted Alexander. “We are proud to now be associated with Travel Leaders Group. Their commitment to excellence provides peace of mind to our discerning clients and agents that we’ll continue providing extraordinary care far beyond their expectations.“
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
