BOCA RATON, Fla. -- Grand Expeditions acquired Travcoa, the Newport
Beach, Calif.-based luxury tour operator.
It was Grand Expeditions' fourth acquisition in one month, its
seventh since it began in December 1998.
Kathleen McCarty-Carey will continue as Travcoa's president, and
the company will continue with its programs and staff intact.
Grand Expeditions chief executive officer Travis Tanner said
that Travcoa was one of the first companies he approached when
Grand Expeditions was established in December 1998, but the company
had not been for sale.
Tanner envisions Grand Expeditions as a one-stop shop for luxury
travel. With the addition of Travcoa, he comes much closer to his
goal. (For full text of TW's interview with Tanner, see this Newsmakers article.)
Grand Expeditions' previous acquisitions include TCS Expeditions
(July 20, 1999), Country Walkers (Sept. 13, 1999), Park East (Dec.
14, 1999), International Expeditions (July 10, 2000) Voyagers
International (July 13, 2000) and Adventure Network (July 26,
2000).
Agents who work closely with Travcoa were taken by surprise.
Kay Wood, president of Wood's World of Travel in Sacramento,
Calif., and a long-time customer of Travcoa, said she is "astounded
that this happened," but was reassured that Grand Expeditions has a
policy of keeping management intact.
"I think it will be OK as long as they keep the same
management," said Wood. "That's a top-notch group of people there,
especially the tour directors."
Wood's agency, a Virtuoso agency, also does business with two
other Grand Expeditions acquisitions, TCS Expeditions and Park
East, and said she has noticed no disruption since they were
acquired.
Susan Morer, president of Landmark Travel in Orinda, Calif.,
said Travcoa could benefit from a new slant to its marketing.
"Travcoa's itineraries are very innovative, they were a pioneer
of adventure travel, but the perception in the marketplace is that
they are for older people," she said. "As long as they don't mess
with the product, a change in marketing could help."
Travcoa was founded in 1954 by Mel Dultz. McCarty-Carey started
as Dultz's assistant in 1970 and worked her way up to executive
vice president and Dultz's right-hand. When Dultz died in October
1998, he left the company to McCarty-Carey.
Tanner said Grand Expeditions will announce more acquisitions
before the end of the year.
Having Travcoa in the family will make further acquisitions
easier, according to Tanner.
"The companies we want to acquire will be more interested in
being associated with a company with the prestige of Travcoa," he
said.