Irvine-based LUXE Travel Management inked a deal for a Florida travel agency that’s expected to boost the company’s offerings in the leisure market.
LUXE Travel is what’s known in the industry as a travel management company and holds contracts with airlines, hoteliers, car rental companies and other suppliers to help clients with corporate travel, online booking, cost containment and discounts.
LUXE has annual revenue of more than $100 million with offices in Beverly Hills, Chicago, Dallas and Boca Raton. It has 35 workers here and 60 companywide. About 70% of its business is made up of corporate travelers, said Chief Executive Craig Carter. He said the purchase of Boca Raton Travel & Cruises on undisclosed terms gives it greater access to the leisure market.
Boca Raton Travel & Cruises has sales of more than $12 million and adds about 10 workers, excluding independent agents, to LUXE’s fold.
The Boca Raton deal follows LUXE’s purchase of Bruce Travel, another Florida-based agency, earlier this year. The buy brought 12 workers to LUXE.
Carter said another deal could be on the horizon. The company just entered talks with another agency outside of California, with negotiations expected to take about six months, Carter said.
—Kari Hamanaka
