Search Travel Market Report

mainlogo
www.travelmarketreport.com
U.S.A.
English
Canada
English
Canada Quebec
Français
Menu
  • News
  • Packaged Travel
  • Cruise
  • Hotels & Resorts
  • Destinations
  • Retail Strategies
  • Air
  • River Cruise
  • Training & Resources

The Travel Corporation To Be Acquired by Asset Management Fund

by Daniel McCarthy  July 16, 2024
The Travel Corporation Logo
Photo: The Travel Corporation

The Travel Corporation (TCC), one of the travel industry’s legacy brands, has agreed to be acquired by Apollo Private Equity, TTC announced Tuesday morning. The deal is expected to close in the fourth quarter of 2024. 

The news means that TTC will now move away from the Tollman family for the first time in its 104-year history, a huge change for one of travel’s most storied brands. The deal will include most TTC brands including Uniworld, Contiki, Insight, and more. Most notably, it will not include Red Carnation Hotels, one brand that will remain under the stewardship of the Tollman family.  

In a statement announcing the news, TTC Chairman Brett Tollman said, “without a next generation to lead TTC, the time has come in our strategic succession plan to select a new owner.”  

“We will support a seamless transition and are confident the team at Apollo will continue driving the business forward to meet growing global demand for touring, river cruising, and specialist and adventure travel,” Tollman said.  

TTC was founded by Stanley Tollman, the son of Jewish Lithuanian immigrants who escaped Czarist Russia to South Africa. Tollman would start what would become TTC with the purchase of the Nugget Hotel in Johannesburg in 1954, eventually growing the company into an international travel powerhouse with more than 40 brands. When Tollman passed in 2021, TTC had more than 10,000 employees spanning 70 countries worldwide.  

Apollo is an international alternative asset manager with over $670 billion in assets under management as of the end of March 2024, including stakes in Las Vegas’ Venetian Resort, Diamond Resorts, Yahoo, and more. Michele Raba, a partner at Apollo, said that she believes that “we can take [TTC] to the next level” under its management.  

“We’d like to thank the Tollman family for trusting in our good stewardship of the business they’ve built for more than a century and look forward to an exciting next chapter in which TTC can serve as a platform for growth,” Raba said.  

  97
  2
Related Articles
The Travel Corporation Overhauls Structure and Sales Team
More Guaranteed Tours from TTC
Contiki Announces Industry-First “Run Club” Trips
TTC Names Melissa DaSilva Interim CEO
Insight Vacations Adds Sprinter Van Tours in More Remote U.S. Destinations
Insight and Trafalgar Add Small Group Domestic Itineraries
TTC Tour Brands Appoints Two Ontario-Based Sales Managers
The Travel Corp. Is Offering Three New FAM Trips in 2023
The Travel Corporation Names New President of Destination America
TMR Subscription

Subscribe today to receive daily in-depth coverage from all corners of the travel industry, from industry happenings to new cruise ships, hotel openings, tour updates, and much more.

Subscribe to TMR

Top Stories
TTC Tour Brands Launches 16 New Tours for 2026
TTC Tour Brands Launches 16 New Tours for 2026

The 16 new itineraries are TTC Tour Brands’ largest expansion in seven years.

NaviStone Names Lisa Ertmann as Director of Travel Industry Partnerships
NaviStone Names Lisa Ertmann as Director of Travel Industry Partnerships

In her new role, Ertmann will help travel and hospitality brands and trade partners convert interest into bookings.

Globus & Cosmos Unveil New Tours in Australia, New Zealand & Fiji
Globus & Cosmos Unveil New Tours in Australia, New Zealand & Fiji

Globus and Cosmos have expanded their South Pacific portfolio with three new tours in 2026.

Rental Escapes Adds New Destinations to Global Portfolio
Rental Escapes Adds New Destinations to Global Portfolio

The full-service luxury villa company has expanded its carefully vetted portfolio with properties in England and Austria.

As Europe Sets Date for New Border System, ETIAS Fee Triples to €20
As Europe Sets Date for New Border System, ETIAS Fee Triples to €20

As the EU sets a date for its new EES, the cost of its upcoming authorization requirement triples.

Perillo Adds Two New “City Pair” Tours
Perillo Adds Two New “City Pair” Tours

The new itineraries focus on two cities, allowing guests more time to fully experience the regions.

TMR OUTLOOKS & WHITE PAPERS
View All
industry spotlight
https://img.youtube.com/vi/k-Hx7nmSSEU/0.jpg
How Carnival Is Supporting Travel Advisors: Funnel Faves, Celebration Key & More
Advertiser's Voice
A Day in Antarctica on an HX Expedition Cruise
About Travel Market Report Mission Meet the Team Advisory Board Advertise Syndication Guidelines
TMR Resources Calendar of Events Outlook/Whitepapers Previous Sponsored Articles Previous This Week Articles
Subscribe to TMR
Select Language
Do You Have an Idea Email
editor@travelmarketreport.com
Give Us a Call
1-(516) 730-3097
Drop Us a Note
Travel Market Report
71 Audrey Ave, Oyster Bay, NY 11771
© 2005 - 2025 Travel Market Report, an American Marketing Group Inc. Company All Rights Reserved | Terms and Conditions
Cookie Policy Privacy Policy Manage cookie preferences