The acquisition is a feather in the cap for the entire travel industry, Frosch executives say, as well as an indicator of the strength of the travel agency community specifically.
Executive teams at Frosch as well as existing consortia relationships are expected to remain in place, according to a report by the Beat, a Travel Weekly sister publication.
Frosch continues to make pandemic-era acquisitions, this time taking a majority stake in the corporate travel division of Ann Arbor, Mich.-based Conlin Travel.
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From left, Kimberly Wilson Wetty, Jennifer Wilson-Buttigieg, Brian Buttigieg, Valerie Wilson, Richard Leibman, Lara Leibman and Bryan Leibman.
Consolidation among travel agencies was heating up even before the pandemic. And now, more than a year into the Covid-19 crisis, with margins stretched thin, cash in short supply and buyers and sellers both looking to strengthen their competitive positions through mergers, it has become an active marketplace for agencies that have the capital and drive to grow through acquisitions.
Last week, two major acquisitions were announced. Frosch International Travel (No. 14 on Travel Weekly s 2020 Power List) acquired Valerie Wilson Travel (No. 36). Additionally, American Express Global Business Travel (GBT, No. 3) said it plans to acquire Egencia, the corporate-travel arm of No. 1 Expedia Group, pending regulatory approvals.