Milwaukee-based The Mark Travel Corp. has completed its previously announced merger with Newtown Square, Pennsylvania-based Apple Leisure Group, the companies announced Tuesday. Financial terms of the transaction were not disclosed.
Mark Travel operates Funjet Vacations and sister company Trisept Solutions distributes leisure travel technology.
Apple Leisure Group operates Apple Vacations, Cheap Caribbean and Travel Impressions. Private-equity companies KSL Capital Partners and KKR own Apple Leisure Group. It has approximately 25,000 employees and $3 billion in revenue.
The combined firm, Apple Leisure Group, will maintain principal executive offices in both Milwaukee and Newtown Square. It will continue offering travel packages via the Apple Leisure Group, Mark Travel and Trisept Solutions brands. Alex Zozaya will serve as chief executive officer and former Mark Travel chief executive officer Bill La Macchia Jr. will continue leading Trisept Solutions.
“Joining forces to create a leading integrated leisure travel and technology solutions company makes a lot of sense for both of us as it will offer even more value for consumers and a wider array of products and services for travel agent, airline, hotel and other travel industry partners,” Zozaya said. “The same traits that have made our two companies grow and succeed will be important contributors to growth and opportunity in the future.”
“The world’s leading airlines, hotels and resorts, tour operators, travel agencies, tourist bureaus, and theme parks rely on Trisept Solutions for the visibility they need to maximize their distribution,” La Macchia said. “We see only upsides for travel agents as a result of our two companies coming together as we will be able to help them better understand their customers’ needs, manage their suppliers and increase productivity.”