Apple Leisure Group to acquire Travel Impressions from Amex
Under the agreement, Travel Impressions will be a preferred supplier of American Express Travel, Amex’s travel agency network. It will license the American Express Vacations brand and will remain the exclusive supplier of packaged vacation products and services sold through the brand to American Express Travel’s customers.
Travel Impressions will continue to operate its business under the existing brand name, and will continue to selling its products beyond those provided to American Express.
Tim Mullen, co-president of Apple Vacations, stated, ”This strategic transaction provides a tremendous opportunity to enhance the Apple Leisure Group portfolio and drive greater value and service to our customers by taking advantage of the strong executive and employee teams of both companies to promote sustained industry leadership.”
Private investment firm Bain Capital Partners invested in Apple Leisure Group in December 2012, and served as a close strategic partner with Apple’s management team in driving this next phase of growth.
Apple Leisure Group is a holding company comprised of Apple Vacations; AMResorts, a hotel management company; Amstar, a destination-management company; and Unlimited Vacation Club, a members-only travel club.