Like so many sectors, the travel industry was hit hard by the COVID-19 pandemic.
Both travel advisors and suppliers have bounced back since the devastating spring of 2020 and the years since have seen a handful of notable mergers and acquisitions from airlines to hotel giants.
Here's a recap of some of the most significant mergers and acquisitions of the 2020s.
Hyatt Acquires Apple Leisure Group
Hyatt Hotels Corporation reached an agreement to acquire Apple Leisure Group (ALG) for a cash amount of $2.7 billion in August 2021, adding the renowned AMR Collection portfolio including beloved all-inclusive resort brands like Secrets Resorts & Spa, Dreams Resorts & Spas and Breathless Resorts & Spas, among others.
Secrets Moxche Playa del Carmen. (Photo Credit: Patrick Clarke)
Alaska Airlines Merges With Hawaiian Airlines
Alaska Airlines completed its acquisition of Hawaiian Airlines in September 2024, calling it "a partnership that will reshape the travel industry for years to come."
Both carriers are expected to stick around, offering customers as many as 141 direct destinations and the ability to transfer miles between HawaiianMiles and Mileage Plan accounts free of charge.
"This is a historic day for Alaska Airlines as we officially join with Hawaiian Airlines. Alaska and Hawaiian share tremendous pride in connecting communities with award-winning service, and we look forward to inviting more guests on board to experience what makes both brands unique," Alaska Air Group CEO Ben Minicucci said in a statement.
"Among Alaska, Hawaiian and Horizon Air, we have more than 230 years of history flying guests and serving communities. I know we will build on that legacy and become stronger together¡ªproviding the excellent operation guests have come to expect, expanding options to seamlessly travel nearly anywhere in the world, and securing the financial stability and value that inspires investment.¡±
Hawaiian Airlines Airbus A330 taking off from Texas' Austin-Bergstrom International Airport. (photo courtesy of Hawaiian Airlines)
Wyndham Destinations Acquires Travel + Leisure
Wyndham Destinations Inc. purchased Travel + Leisure from the Meredith Corporation at the start of 2021, taking ownership of the popular Travel + Leisure magazine, its associated website and membership-based travel services.
Meredith will continue publishing Travel + Leisure under a 30-year renewable licensing agreement as part of the $100 million deal.
P&O Cruises Australia Shuts Down
Last year, P&O Cruises Australia announced it would be shutting down in March 2025 in a move that will increase the capacity of Carnival Cruise Line.
Beginning this spring, cruise ships Pacific Encounter and Pacific Adventure will begin sailing under the Carnival brand while Pacific Explorer will exit the fleet.
Hyatt Acquires Playa Hotels & Resorts
Hyatt began 2025 with a bang, announcing plans to purchase Playa Hotels & Resorts for $2.6 billion.
The acquisition, which is expected to be completed later this year, will add all of Playa's all-inclusive resorts in Mexico, Jamaica and the Dominican Republic to Hyatt's growing portfolio.
Spirit Airlines aircraft. (Photo Credit: Spirit Airlines)
JetBlue Almost Acquires Spirit Airlines
The most dramatic merger in the post-pandemic era was one that never happened. JetBlue and Frontier Airlines both made a run at Spirit Airlines in the summer of 2022, with JetBlue coming out on top until a federal judge blocked the deal in early 2024.
The two carriers later agreed to terminate the deal. Frontier recently made a second merger bid with Spirit only to be turned away.
It's safe to say that we'll all want to stay tuned to this ongoing saga.
Choice Hotels' Failed Takeover of Wyndham
Choice Hotels International terminated its hostile takeover of Wyndham Hotels & Resorts in early 2024, just months after making an unprompted cash-and-stock offer of around $8 billion for the hotel giant.
Comfort Inn and Suites. (photo courtesy of Choice Hotels International) (Photo Credit: Choice Hotels)
The plan failed to secure the support of enough Wyndham stockholders. "The Wyndham Board is pleased that Choice has ended its hostile pursuit and proxy contest, following the expiration of its unsolicited exchange offer," Stephen P. Holmes, Chairman of the Board, said in a statement. "We are confident in Wyndham¡¯s standalone strategy and growth prospects under the leadership of our proven management team. The Board remains committed to acting in the best interests of our shareholders and driving superior long-term value creation."
American Queen Voyages Ceases Operations
American Queen Voyages canceled all cruises and shut down operations in early 2024 after the river cruise company was met with "unforeseen business circumstances and an inability to obtain sufficient capital at a commercially reasonable rate to continue operations."
"Since 2011, American Queen Voyages (AQV) has proudly celebrated the American spirit of adventure and discovery. From our iconic paddlewheel river cruises through the heartlands to our small-ship expeditions in Alaska, we have been focused on providing guests with world-class travel experiences," Adam Peakes, President, Hornblower Group (AQV's parent company), said in a statement. "It is most unfortunate that, despite great efforts by our team, crew and partners, AQV has been unable to fully rebound from the effects of the pandemic."
A&K Travel Group Acquires Crystal Cruises
In the summer of 2022, A&K Travel Group Ltd. acquired the Crystal Cruises brand by adding the Crystal Serenity and Crystal Symphony cruise ships for approximately $128 million. Both vessels recently resumed service after undergoing refurbishment.
Exterior of the Crystal Symphony. (Photo Credit: Crystal)
Hilton Acquires Graduate Hotels
It's been almost one year since Hilton revealed plans to acquire the Graduate Hotels brand for $210 million, expanding its lifestyle portfolio with unique properties located in college towns across the U.S. and UK, including places like including in Ann Arbor, Knoxville, Palo Alto, Oxford and Cambridge, among others.
GOGO Vacations Closes
GOGO Vacations was forced to close its doors for good in early 2024 after seven decades of serving travelers.
"It was a difficult, but logical decision to close GOGO. With the wholesale model struggling in recent years, it has become increasingly difficult to justify the high costs of maintaining this brand," Flight Centre Travel Group Americas President Charlene Leiss said in a statement at the time.
ARYYVE Vacations Shutters
Last summer saw wholesale tour operator platform ARYYVE Vacations go out of business, ceasing operations in early August due to "deterioration of our financial standing."
The sudden move left both travel advisors and their clients high and dry.
Marriott Acquires Postcard Cabins
Marriott International acquired nature-based lodging company Postcard Cabins in late 2024, adding more than 1,200 cabins across 29 different U.S. destinations to its robust portfolio.
The newly acquired accommodations will be added to the Marriott Bonvoy portfolio in 2025.
A Postcard Cabins cabin in Skagit Valley, Washington. (Photo Credit: Postcard Cabins)
Apollo Funds Acquires The Travel Corporation
Apollo Funds agreed to acquire The Travel Corporation (TTC)¡ªwhich comprises 18 brands including Contiki, Trafalgar, Uniworld Boutique River Cruises and Insight Vacations¡ªin the summer of 2024.
"For more than 104 years our family has built TTC into an industry leader known for exceptional service and innovation," TTC Chairman Brett Tollman said at the time. "Without a next generation to lead TTC, the time has come in our strategic succession plan to select a new owner with a proven track record and who shares in our vision and customer-first values. We will support a seamless transition and are confident the team at Apollo will continue driving the business forward to meet growing global demand for touring, river cruising and specialist and adventure travel."
SmarTours Shuts Down
New York-based tour operator SmarTours ceased operations at the end of January 2025, closing up shop after three decades of offering guided tours to destinations across Africa, Asia, Australia, New Zealand, China, Europe, India, Nepal, Japan and Latin America.
"For the past 30 wonderful years, SmarTours has been honored to serve travelers like you, bringing unforgettable experiences to destinations around the world," a memo on its website read. "It has been our privilege to be part of your journeys, and we are deeply grateful for your trust and support. It is with great sadness that we must inform you that as of today, January 31, 2025, smarTours is no longer operational."
For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.
Topics From This Article to Explore
