Classic Vacations, which offers vacation packages in destinations including Hawaii, the Caribbean, Mexico, Europe and the South Pacific, was acquired by The Najafi Companies, which purchased the wholesaler from Expedia Group.
The purchase will be effective April 2, 2021, and will allow Classic to “further strengthen our partnership with our travel advisors and to better support our travel advisor, hotel and destination partners,” according to David Hu, president of Classic Vacations.
This is a tremendous opportunity for everyone involved, and I am confident that Classic Vacations will be strategically positioned, with The Najafi Companies’ support, to prosper in a post-COVID-19 travel environment.
The Najafi Companies is a private investment firm known in the travel space; the company has spent more than three decades in the hospitality industry with brands including The Ritz-Carlton, St. Regis Hotels and Promontory Park City, among others.
Classic will operate as a stand-alone brand within The Najafi Companies’ portfolio, and Hu will remain president. The leadership team will also retain its positions. The company’s headquarters will remain in San Jose, Calif.
“These past months have underlined the magic of being able to travel with friends and family, create new experiences and make new memories,” Hu said. “This is a tremendous opportunity for everyone involved, and I am confident that Classic Vacations will be strategically positioned, with The Najafi Companies’ support, to prosper in a post-COVID-19 travel environment.”
Jahm Najafi, president and CEO of The Najafi Companies, believes the luxury sector of travel will be one of the first segments to rebound from the COVID-19 pandemic, and that Classic is well-positioned to capitalize on the demand.
"Classic Vacations has built a sterling brand over the past 40-plus years with a devotion to their employees, a reputation for incredible products and service and, most importantly, a client-focused culture that is so critical in today’s environment,” Najafi said. “We are excited to have an industry-leading company join our portfolio of brands.”
The Details
Classic Vacations
www.classicvacations.com
