Tzell Travel Group – a Travel Leaders company – has signed an agreement to merge with Protravel International, Inc. pending government antitrust approval.
The merged operations within Travel Leaders Group would represent a combined annual sales volume of over $2.35 billion, Travel Leaders reports.
Travel Leaders Group CEO Barry Liben has indicated that after the merger, Tzell and Protravel would continue operating “as is” with no plans to change the companies’ business models. Protravel founder Priscilla Alexander would continue serving as its president.
It has also been confirmed that Protravel will remain with its consortia, Virtuoso. Tzell is a member of Signature Travel Network.
Travel Leaders Group, which is headquartered in Minnesota, ranks among North America’s top five traditional travel agency enterprises, with nearly $17 billion in annual sales volume in 2011 through its wholly-owned, franchised and member operations. Tzell Travel Group’s sales approached $1.5 billion last year, while sales for Protravel exceeded $850 million. The merger is anticipated to close in November, but the full terms of the deal will not be disclosed since both companies are privately held.
“Through the years, we have encountered many travel companies, but few formidable competitors have ever captured our admiration and respect to the extent that Protravel International has. I know I speak on behalf of everyone within our company when I say that we couldn’t be more thrilled to now join forces with such an exceptionally well-operated company,” stated Liben.
“Throughout our history dating back to 1984, we’ve been guided by a quest to be leaders in innovation and talent. Now, we’re excited to take our experience to the next level by combining forces throughout the United States with New York City’s other great travel agency leader: Tzell Travel Group. Together we now have 72 branches that extend to most major markets across the country and in the United Kingdom,” noted Alexander.
Visit www.travelleadersgroup.com, www.Tzell.com and www.protravelinc.com