Apollo Global Management Acquires The Travel Corporation, Expanding Presence in Travel Sector

Apollo Global Management, Inc. (NYSE:APO) shares are seeing a rise in trading activity today following the company’s announcement of a definitive agreement to acquire The Travel Corporation (TTC) for an undisclosed sum. This deal involves the acquisition of 18 renowned brands, including Trafalgar, Uniworld Boutique River Cruises, and Contiki, amongst others, as well as other global travel brands and supporting business entities. The purchase marks a significant move for Apollo, with the transaction expected to be completed in the fourth quarter of 2024, pending regulatory approvals and other conditions.

The private equity partner of Apollo, Michele Raba, expressed confidence in the acquisition, highlighting TTC’s esteemed collection of brands and the potential for growth under Apollo’s management. The exclusion of The Red Carnation Hotel Collection from the sale is of note. Additionally, Apollo’s aviation lending platform, PK AirFinance, recently concluded its inaugural aircraft loan asset-backed securitization. Those interested in investing in the company can do so through various exchange-traded funds such as EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF LBO and WBI BullBear Quality 3000 ETF WBIL.

Following these developments, APO shares are up by 0.73% at $123.40 as of the latest check on Tuesday. With discussions surrounding the acquisition and Apollo’s increasing presence in the travel sector, investor interest in the company and its future prospects remains a point of focus in the market.