Cruise Planners execs buy out investor

By Tom Stieghorst

Cruise Planners/American Express will be owned by its three principal executives, following a buyout of a stake owned by a financial investor, Palm Beach Capital. The price and other terms of the acquisition weren't disclosed.

The private equity firm had been a majority owner since 2005, shortly before two of the three co-founders left the company.

Cruise Planners, based in Coral Springs, Fla., is now owned by CEO Michelle Fee; CFO Tom Kruszewski; and Vicky Garcia, executive vice president of sales and marketing.

Garcia will become chief operating officer of the new company.

Fee retained a minority stake when co-founders Lynn Korn and Marvin Davis retired in 2007.

Cruise Planners has more than 800 franchisees.

Follow Tom Stieghorst on Twitter at tstravelweekly. 

This page is protected by Copyright laws. Do Not Copy. Purchase Reprint
blog comments powered by Disqus

View Comment Guidelines

Please upgrade your Flash Player.
Please upgrade your Flash Player.

Travel Weekly Poll

Voices

  • Consumer media discover that travel agents do exist

    "Contrary to some thoughts, travel agents do exist ... We are usually able to get clients better prices, and we know we can see that clients have better experiences. And as our personal motto is: Our Service Travels With You."

    More»

TW Index: Most Active Stocks

Latest Top News:
Caribbean
Europe
Travel Weekly is on Facebook
Viewpoints For Travel Agents
Travel Weekly Topics