Apple Leisure Group and the Mark Travel Corporation will form a
The financial terms of the merger agreement were not disclosed.
transaction, subject to regulatory approvals, is expected to close in the
Apple Leisure Group's brands include Apple Vacations, Travel
Impressions, CheapCaribbean.com, AMResorts, Amstar, Worldstar and Unlimited
Mark Travel's brands include Funjet Vacations, Southwest
Vacations, United Vacations, Blue Sky Tours, My Destination Wellness and Mark
International. Its sister technology company, Trisept Solutions, will also be
part of the combined company.
The combined company will be led by CEO Alex Zozaya, the
president and CEO of Apple Leisure Group, with principal offices in Newtown
Square, Pa., and Milwaukee.
"This strategic combination will leverage the
complementary strengths of both companies to provide new and enhanced products
and solutions to our customers and partners," Zozaya said in a statement.
Mark Travel founder, chair and CEO Bill La Macchia, and
chief engagement officer Bill La Macchia Jr., will remain active in the business,
Zozaya said, including as members of its board of directors.
"By combining our technology and distribution
capabilities with the breadth of resorts and service offerings of Apple Leisure
Group, we will grow the business and further enhance our commitment and service
to customers, travel agents and suppliers," the elder La Macchia said in a