Search Travel Market Report

mainlogo
www.travelmarketreport.com
  • News
  • Tours & Packages
  • Cruise
  • Hotels & Resorts
  • Destinations
  • Retail Strategies
  • Niche & Luxury
  • Air
  • Training & Events
  • Who We Are
    • Brian Israel
    • Dan McCarthy
    • Denise Caiazzo
    • Dori Saltzman
    • Kelly Fontenelle

The Private Equity Firm Behind Internova Takes Stake in Avoya

by Daniel McCarthy / November 19, 2021
The Private Equity Firm Behind Internova Takes Stake in Avoya


Avoya Travel, the vacation planning company that includes Avoya Travel Network, is taking on a new investor. 

Avoya’s Jeff Anderson on Friday afternoon announced that Certares, the private equity firm that already holds investments in a number of travel companies including Internova and AmaWaterways, has taken a stake in Avoya.

 The news means that for the first time in its history, Avoya will have stakeholders outside of the Anderson family. 

“We’ve recognized there are tremendous opportunities to collaborate with the right people and right organizations,” Anderson said on Friday, calling Certares “a new shareholder” in the company. 

“I think most people would bow their heads and say our model is very solid,” Anderson said. “How do we build upon that? You bring in the right shareholders.” 

As part of the changes, the longtime family-run team at the helm of Avoya is also changing.

Co-founders, and brothers, Brad Anderson and Van Anderson are going to gradually step further and further away from the business. Jeff Anderson on Friday said that Van will be retiring “pronto” and “Brand is going to be moving to be a senior advisor for the organization.” 

Jeff and Michael Anderson, who were formerly co-presidents, will now work under the titles of co-CEO. 

“We are ‘times of change are times of opportunity’ types of people,” Jeff Anderson said. "We already have a very good thing going on here, Certares is very deep into understanding our business and we are very proud that they have decided to put money behind what they see here. We are really just humbled at this.” 

What’s going to be different? Aside from the changing executive roles, Anderson said that the investment means “tremendous growth for the future,” growth that the Andersons have been focused on since laying out their 2025 plan in 2018. There are still some things to be worked out. 

Anderson did say that “it is going to take some time for us to figure these cool things out” but promised that "the growth we are going to be on is going to be a wild exciting adventure.”

“All of us will look at this as either a challenge or opportunity and my bet is the vast majority of you are looking at this from an opportunity perspective,” he said. “We will be able to do things that we’ve never done in the past without having Certares with us. This game changes now.”

 

  37
  0

MOST VIEWED

  1. U.S. State Department Updates Jamaica Travel Warning to Level 3
  2. First Hand Look at the Soon-to-Open Sam Lord's Castle Barbados, A Wyndham Grand Resort
  3. TSA Will Now Allow Teens to Access PreCheck with Parents or Guardians
  4. 25 Qualifying Questions to Help You Nail Your Clients' Vacation Plans
  5. Report: Margaritaville Times Square Faces Foreclosure
  6. U.S. State Department Reissues Travel Advisory for Peru

MOST EMAILED

  1. First Hand Look at the Soon-to-Open Sam Lord's Castle Barbados, A Wyndham Grand Resort
  2. 5 Reasons You Need to Use a Travel Advisor Now More Than Ever
  3. U.S. State Department Updates Jamaica Travel Warning to Level 3
  4. 25 Qualifying Questions to Help You Nail Your Clients' Vacation Plans
  5. TSA Will Now Allow Teens to Access PreCheck with Parents or Guardians
  6. Travel Kind…It’s Good For You and the Planet
TMR Subscription

Subscribe today to receive daily in-depth coverage, analysis of industry news, trends and issues that affect how you do business. Subscribe now for free.

Subscribe to TMR

Top Stories
Tennis Icon Venus Williams Will Headline ASTA’s 2024 Global Convention
Tennis Icon Venus Williams Will Headline ASTA’s 2024 Global Convention

Williams will speak on her entrepreneurial journey during next year's AGC in Dallas. 

Read...
Even with Mask Mandate Lifted, Airline Passengers Are Still Behaving Badly
Even with Mask Mandate Lifted, Airline Passengers Are Still Behaving Badly

Vaping is now the most frequent reason for passenger non-compliance. 

Read...
Double Their Luxury Experience in Riviera Cancun
Double Their Luxury Experience in Riviera Cancun

If you’re looking for a recommendation on a luxury adults-only vacation experience, Secrets® Riviera Cancun Resort & Spa is sure to impress. 

Read...
New Legislation Would Give Travel Advisors a Seat on DOT Advisory Body
New Legislation Would Give Travel Advisors a Seat on DOT Advisory Body

Travel advisors could soon have a seat on a key DOT advisory body.

Read...
Carnival Cruise Line Unveils "Your Winning Plan" Roadshow and Competition
Carnival Cruise Line Unveils "Your Winning Plan" Roadshow and Competition

Carnival is giving advisors the opportunity to learn from SBA business experts, while at the same time competing for $20K worth of prizes. 

Read...
One Year Out, Cruise Planners Reflects on Move Away from American Express
One Year Out, Cruise Planners Reflects on Move Away from American Express

Cruise Planners was the only travel franchise with an American Express Travel Affiliation.

Read...
TMR OUTLOOKS & WHITE PAPERS
Cruise Trend Outlook 2023
river cruise 2022
group outlook 2022
View All
Advertiser's Voice
https://img.youtube.com/vi/_UQsgtX1HVU/0.jpg
Video: How One Travel Agency Finds New Clients
About Travel Market Report Mission Staff Advisory Board Advertise
TMR Resources Webinars 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
News |Tours & Packages |Cruise |Hotels & Resorts |Destinations |Retail Strategies |Niche & Luxury |Air |Training & Events |Who We Are
© 2005 - 2023 Travel Market Report, an American Marketing Group Inc. Company All Rights Reserved | 243 South Street, Oyster Bay, NY, 11771 USA | Telephone (516) 730-3097| Terms and Conditions
Cookie Policy Privacy Policy