American Express sells tour operator to competitor Apple Leisure Group
Skift Take
Operating a vacation wholesaler was clearly not a core business for American Express, which agreed to go the partnership route instead.
Apple Leisure Group acquired Travel Impressions, one of its strongest competitors in the Caribbean and Mexico since the 1970s. Apple Leisure Group entered into an agreement with American Express Travel Related Services Co. under which Apple will take over Travel Impressions, a wholly owned subsidiary of American Express.
Alex Zozaya, CEO of Apple Leisure Group, said the acquisition fits into Apple Leisiure Group’s plan to expand its portfolio and create a “larger vertical platform.´
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