Avoya Travel Network wins major private equity investment partner
Award-winning host agency Avoya Travel Network today announced important news that will have a profound and positive impact on the future trajectory of the family business. With 57 years as one of the world’s most innovative travel marketing and technology companies under its belt, Avoya has just acquired a new shareholder and investment partner in Certares.
Jeff Anderson, third-generation Avoya travel agent and current co-chair, broke the news to the company’s network of travel agencies and independent advisors today at a Zoom meeting. He described this latest development as a change and predicted it would prove to be a pivotal moment in Avoya’s story.
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“I’m really, really excited to announce today that in our effort to partner with the best and the brightest… we are bringing a new partner, a new shareholder into the company,” he said.
Certares is a private equity firm with offices in New York, Luxembourg and Dubai. His name may be unknown, but his investments include well-known brands like AmaWaterways, American Express Global Business Travel, G Adventures, Hertz, Internova Travel Group and TripAdvisor.
“They are concentrating their investments in private companies in the travel and tourism sector, hospitality and consumer services,” said Anderson. “We’re very, very excited about the opportunities to work alongside brilliant people there,” he said.
Since 2018, the company has been committed to following a five-phase initiative, dubbed “Avoya 2025”, which is designed to achieve the organization’s goal of becoming the world’s leading vacation platform.
“Here we are, now, towards the end of 2021 and the plan continues,” Anderson said. “Certainly there were a lot of distractions, no one expected this unimaginable upheaval, but we have never lost sight of our ambitions and we are always moving in the right direction.
Anderson said that Centares core values “align so closely with how the Andersons have operated for so long. And, it was a privilege, we have known this wonderful team for many, many years. He continued, “I think what’s so exciting about it is that our partnership with Certares is going to allow us to make these wildest dreams come true that, perhaps as a family business, we don’t. have not had the same opportunity to accomplish. “
Anderson said he expects to see a lot of change and rapid growth within the company. Co-founder Van Anderson will retire almost immediately. His brother, co-founder Brad Anderson, will assume the role of senior advisor to the organization. Day-to-day operations will continue to be overseen by Jeff and Michael Anderson, who currently hold the titles of Co-Chairs, but will now evolve into the roles of Co-CEO.
“We already have a very, very good thing going on here. Certares has deepened their understanding of our business and we’re really proud of the fact that they’ve decided to put money behind what they see here, ”he said. And that’s a huge testimonial for everyone who has contributed to Avoya. We’re really just humbled by it.
Anderson said that “the investment in Centares’ Avoya platform means tremendous growth going forward. I am so excited about the confidence they have in what we are doing here… The growth [trajectory] in which we are going to participate is going to be a crazy and exciting adventure.
For more information, visit avoyanetwork.com.