Altour International, No. 12 on the 2011 Travel Weekly Power List with reported sales of $1.2 billion, has acquired Road Concierge, an agency that manages travel for Broadway shows and live theatrical entertainment.
The acquisition of New York-based Road Concierge complements Altour's film, television and music division, based in Los Angeles and with an office London, said Martin Rapp, Altour's senior vice president of leisure.
Road Concierge CEO Lisa Morris said her business has gross sales of $7.5-8 million, plus another $3 million in air which she had passed along to another agency but will now book through Altour. She said her agency also had worked with corporate clients on a consulting basis, and that that business would also be directed to Altour.
After the deal closes Feb. 1, Morris said she would become Altour's vice president of sales.
Altour will maintain the name Road Concierge for the business, and Morris said there will be no interruption of service for her existing clients.
“My entire team will be kept intact,” she said. And I will still be sleeping with my cell phone.”
Morris said she “spent some time dating larger companies until I found the one I wanted to marry.”
She said that although other companies offered her more money, “I didn’t need to sell. The question for me was how to scale, how to manage how fast we were growing. It was a trust factor. Their philosophy is in line with mine. It’s not just about growth, but how to grow with the proper level of service. I recognized a kindred spirit. It’s really a perfect fit: I’ll have the benefit of their clout, and they’ll get a new market.”
“It’s a little scary to sell,” Morris admitted. “It’s my business, it’s my baby. This is the first time I’m going to have a boss.”