The Travel Corporation sold to US private equity firm

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The Travel Corporation (TTC) and its 18 brands including Uniworld Boutique River Cruises and Luxury Gold, have been acquired by US-listed asset management firm Apollo Funds, for an undisclosed amount. TTC has been a privately owned and operated company for more than a century.

Other household name brands within The Travel Corporation sold in Australia and New Zealand include Contiki, Trafalgar, Insight Vacations, Costsaver, AAT Kings, Adventure World and The Red Carnation Hotel Collection*.

In a statement online from Apollo, Michele Raba, Apollo Private Equity Partner, said: “TTC has a leading collection of brands that we believe we can take to the next level as an Apollo Funds portfolio company, leveraging our extensive experience in the travel, tech and hospitality sectors.”

“We look forward to building on its legacy in an exciting next chapter in which TTC can serve as a platform for growth,” Raba added.

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Brett Tollman, Chairman of The Travel Corporation said: “For more than 104 years our family has built TTC into an industry leader known for exceptional service and innovation.

“Without a next generation to lead TTC, the time has come in our strategic succession plan to select a new owner with a proven track record and who shares in our vision and customer-first values.”

“We will support a seamless transition and are confident the team at Apollo will continue driving the business forward to meet growing global demand for touring, river cruising and specialist and adventure travel,” Tollman said in a statement.

Certain brands are not included in the sale, notably The Red Carnation Hotel Collection.

The transaction is subject to satisfaction of certain closing conditions, including regulatory approvals, and is expected to close in Q4 2024.

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