Apollo Global To Buy Travel Corp. For Undisclosed Sum

(RTTNews) - Apollo Global Management, Inc. (APO), an asset manager, announced Tuesday a deal, by which Apollo-managed funds will acquire the Travel Corp. or TTC.

The financial terms of the transaction, to be closed in the fourth-quarter of 2024, were not disclosed.

Apollo Private Equity Partner Michele Raba said, "TTC has a leading collection of brands that we believe we can take to the next level as an Apollo Funds portfolio company, leveraging our extensive experience in the travel, tech, and hospitality sectors."

The transaction is comprised of 18 leading brands, including Trafalgar, an escorted tour operator, followed by Uniworld Boutique River Cruises, a luxury all-inclusive river cruise line, Contiki, youth travel specialist tour company, Insight Vacations, as well as other travel brands and supporting business entities.

Apollo also noted that certain brands are not included in the sale, notably the Red Carnation Hotel Collection.