Travel industry veteran Ron Letterman has
decided to retire in December from his post as vice chairman and
senior advisor of Classic Vacations.
Letterman said his
immediate retirement plans include working on his tennis game, but
he also plans to travel.
"I'm a travel
junkie and will always be going somewhere," he said in a statement.
Letterman, who began his travel career 35 years ago as a writer,
already has his sights set on Southeast Asia, the Middle East and,
of course, Hawaii, where he has spent the bulk of his travel
industry career.
In 1992, he became
part owner, president and CEO of Classic Vacations. Later in 1998,
he and his partners sold the company to the Global Vacation Group,
an ambitious tour operator rollup, that at the time was on the
cutting edge of the consolidation movement.
Over the course of
two years GVC acquired several tour and travel companies, issued
stock and went public, but it ultimately fell into financial
difficulties.
In 2001, Letterman
became president of GVC, guiding its liquidation as it sold off
several business units.
In 2002, Letterman
sold Classic, GVC's last remaining business unit, to Expedia, which
for a time caused the company to fall out of favor with some travel
agents. Virtuoso, for example, temporarily ended its preferred supplier arrangement with
Classic.
However, Letterman
and his team worked to regain the trust of agents. In June,
Virtuoso welcomed Classic back as a preferred.
Letterman's resume
includes stints at American Express and Carlson Travel
Network.
"The travel
industry will lose one of its greatest leaders and supporters when
Ron Letterman retires in December," said Cheryl Hudak, ASTA
president and CEO.
"He has been at the
forefront of the industry for many years and has earned the respect
of his peers thanks to his leadership skills and unflagging
enthusiasm for the travel industry. The success of Classic
Vacations is a direct testament to this," she said.
Arthur Tauck,
chairman of Tauck World Discovery called Letterman "a central
figure in promoting travel to Hawaii."
"Ron has enjoyed a
long and distinguished career, and he's been a highly regarded
figure in the travel industry for many years," Tauck said. "We
congratulate him on a 'job well done,' and wish him the very best
in his retirement."
To
contact reporter Michael Milligan, send e-mail to [email protected].