Funjet’s TNT Vacations Buy Set to Supercharge Vintage Brand
By David Cogswell
August 07, 2012 10:50 PM
Funjet Vacations’ acquisition of Boston-based TNT Vacations will “power and empower” the 38-year-old Boston based wholesaler, according to Mike Going, president of Funjet.
In the acquisition, Funjet bought the brand TNT Vacations and some of the company’s staff, including some reservations, sales and marketing personnel. The brand will be known as TNT Vacations Powered by Funjet, its offerings will jump from 17 destinations to 900, and it will gain the benefit of Funjet’s state-of-the-art booking technology. “It allows us to leverage a very storied brand with a 38-year history in Boston, and to bring our product and our agency programs to that market,” said Going.
It is one of several acquisitions made in the last decade by the Milwaukee-based Mark Travel Corp., including Blue Sky Tours, Transglobal Vacations and Adventure Vacations. Funjet is one of a diminishing number of large wholesalers who dominate the hyper-competitive mass market vacation package business. Funjet competes for dominance of that market with Travel Impressions, Apple Vacations, GOGO Vacations, MLT Vacations, Pleasant Holidays and Classic Vacations. Though attempts to consolidate the escorted tours market a decade ago largely met with failure, the mass market tier has tended to prove the theory that economies of scale are necessary to compete in today’s marketplace.
According to Going, “I do think in the wholesale business it does take some resources, some technological investment for which not everyone has the capital. You have to have scale if you want to succeed in the mass market.”
Funjet acquired TNT from its founder, Steve Belkin, who said he believes Funjet has the “people, vision and technology…and the best platform to carry the TNT Vacations brand into the future.”