Investment firm Certares Inc. has acquired full ownership of Avoya Travel, taking over from the company's previous joint ownership structure with the Anderson family.
Avoya's current executive leadership team will continue in their roles following the ownership change. Chief sales officer Phil Cappelli and chief financial officer Mark Francone will remain with the company to maintain operations and support expansion plans under Certares' ownership.
Jeff Anderson and Michael Anderson, who previously held ownership stakes in Avoya Travel, will stay involved with the company through mid-June to facilitate the ownership transition process.
"We’re grateful to Jeff Anderson and Michael Anderson, who helped build Avoya into an innovative leader in leisure travel," Cappelli said in a press statement.
Editor’s Note: This article was generated by AI, based on a press release distributed by Avoya Travel. It has been fact-checked and reviewed by a TravelAge West editor.