Travel Leaders Group, ALTOUR to merge

Travel Leaders Group and ALTOUR have announced an agreement to unite under common ownership in order to form a single travel agency organization.

There will be no substantive operating changes or name changes to either ALTOUR or Travel Leaders Group’s businesses or organizations. Closing of this combination is expected to occur following regulatory approval in satisfaction of other customary conditional proceedings.

Alexandre Chemla, founder, president and chief executive officer of ALTOUR, will remain in his current leadership role and Ninan Chacko will continue to serve as chief executive officer of Travel Leaders Group. In addition, upon the closing, Chemla will become a shareholder and join the board of directors of Travel Leaders Group Holdings.

ALTOUR is an independently owned travel management company based in the United States, serving the luxury and mid-markets globally. Travel Leaders Group manages leisure, business and franchise travel operations under a variety of diversified divisions and brands.