Travel Leaders Group and Altour are to merge as consolidation continues within the TMC sector.
The two US-based companies said they would “unite under common ownership to form a single, powerhouse travel agency organisation with nearly $24 billion in annual sales”.
Travel Leaders, owns the Protravel International and Tzell Travel Travel Management Company: An agency which manages business travel for a company. brands, while Altour’s UK operation is ranked as the 19th biggest Travel Management Company: An agency which manages business travel for a company., according to BBT’s list of the country’s 50 leading TMCs.
The two companies said in a statement: “There will be no substantive operating changes or name changes to either Altour or Travel Leaders Group’s businesses or organisations.
“Closing of this combination is expected to occur following regulatory approval in satisfaction of other customary conditional proceedings.”
Alexandre Chemla will continue in his role as president and CEO of Altour, although he will join the board and become a shareholder of Travel Leaders Group Holdings
Ninan Chacko will remain as CEO of Travel Leaders Group.