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Travel Leaders Group Closes Sale of ConnexionsJuly 13, 2010 By: George Dooley
Travel Leaders Group reports it has closed its sale of Connexions Loyalty Travel Solutions to Affinion Group, Inc.. Connexions has become a provider of both online and offline travel for loyalty-based customers. The transaction, valued at $135 million, closed on July 1. Connexions’ management team and employees will continue to work within Affinion’s combined company.
Travel Leaders Group CEO Barry Liben indicated that completion of the sale will help increase Travel Leaders Group’s focus and presence in the traditional travel agency business – including both wholly-owned and franchised locations throughout North America – while at the same time allowing its loyalty business (Connexions) to transfer ownership.
Nevertheless, Liben noted that Travel Leaders Group will maintain a business relationship with Connexions. Travel Leaders Group now consists of four companies: Travel Leaders Corporate, Travel Leaders Franchise Group, Travel Leaders Leisure Group and Tzell Travel Group.