Two boutique travel agencies have officially joined forces: Atlanta-based Epperly Travel recently announced the acquisition of Jetset World Travel in a merger that represents some $25 million in annual (pre-COVID-19) sales.
Citing the cultural and communal similarities of the two agencies, Lindsey Epperly, CEO of Epperly Travel, says the acquisition is especially unique because it doesn’t involve a mega-agency.
“Julia [Pirrung, founder of Jetset World Travel] and I have both been dedicated to bringing back boutique, so we started brainstorming on how we could strengthen both companies without sacrificing our focus of community, culture and innovation,” Epperly said.
We started brainstorming on how we could strengthen both companies without sacrificing our focus of community, culture, and innovation.
Epperly and Pirrung (who also created and launched the Axus Travel App) first met at Wendy Perrin’s Global Travel Summit at Grand Velas Rivera Maya in Mexico several years ago. Pirrung said she was immediately taken by Epperly’s “clarity of vision, quiet confidence, poise and grace,” along with her authenticity and “infectious energy.” They crossed paths again in 2019 during the creation of Epperly’s EntreTravel program, when the agency sought Pirrung’s guidance on the launch.
Then, at the start of 2021, Epperly and Epperly Travel’s COO, Jeremy Sulek, found themselves in a good financial position to acquire another agency. This is the first acquisition for Epperly Travel, which was founded in 2014.
“We began dreaming up what an ideal acquisition would look like for Epperly Travel, one that could benefit all parties,” Epperly said. “If we could pick one agency that most aligned with everything we want to accomplish, which one would that be? There was no doubt in our minds that it was Jetset, but we had no idea if the opportunity would even be of interest. It was Dr. Bob Joselyn (president at Joselyn Consulting Group) who connected us. He said in the voicemail he left me the day he connected us with Julia to begin our discussions, ‘This very well may be kismet.’ And it was.”
She also calls the acquisition a way that the industry is “building back better” after the COVID-19 pandemic; Epperly Travel will operate as the parent company, but the Jetset brand will be maintained in a team- and collaboration-based business model.
Epperly believes the merger “sends a message of optimism to other small businesses and entrepreneurs.”
“The idea of handing over the reins to a business that is growing just for growth's sake inherently goes against the very foundation of those businesses,” Epperly said. “It is possible to create a win-win solution with another company who is dedicated to the same community and culture, that will care for your team as if it were their own, which is more important than ever coming out of this crisis.”
“Leveraging buying power is key to remaining competitive in this climate, and I’ve observed the stressors placed on entrepreneurs,” added Pirrung, who is moving to an independent contractor role with Jetset. “But the idea of losing our identity and selling to a mega-agency never appealed … neither agency intends to become a mega-host agency.”
It is possible to create a win-win solution with another company who is dedicated to the same community and culture, that will care for your team as if it were their own, which is more important than ever coming out of this crisis.
Both Jetset and Epperly are committed to creating a community that places their teams first and fosters innovation.
“Our advisors are our clients, so what kind of innovation and choices do we need to work toward to best serve them?” Epperly said. “Beyond this, we also share similar business practices, target markets and supplier relations.”
Although Jetset is headquartered in Aspen, Colo., Pirrung’s team will continue to operate virtually and will soon have access to a range of new technology, training and support through Epperly Travel’s hosting program (which offers users business-planning services and a financial revenue share model). Jetset advisors will also have access to EntreTravel.
Megan Hintz, COO of Jetset World Travel, will join Epperly’s leadership team (which includes Epperly as CEO, Sulek as COO and Cassie McMillion Deifik as managing director).
“We were a virtual company before the pandemic, and we're ready to do away with the old-school way of thinking that independent contractors should be left in the cold simply because their zip codes differ from their host agency's,” Epperly said. “Our team at Epperly believes wholeheartedly that the future of the travel industry is at the advisor level. The negative repercussions of rewards based on sheer volume that are an automatic with mega-agencies has become apparent. Many programs that were created pre-pandemic are incentivizing body count over professionalism. It creates little to no room for entrepreneurs to thoughtfully innovate.”
The Details
Epperly Travel
Jetset World Travel
