Award-winning host agency Avoya Travel Network today announced some major news that will have a profound, positive impact on the family-run company's future trajectory. With 57 years as one of the world's most innovative travel marketing and technology companies under its belt, Avoya has just gained a new shareholder and investment partner in Certares.
Jeff Anderson, a third-generation Avoya travel agent and current co-president, broke the news to the company's network of independent travel agencies and advisors today during a Zoom meeting. He described this latest development as a game-changer and predicted that this would prove to be a pivotal moment in Avoya's history.
"I'm really, really excited to announce today that, in our efforts to collaborate with the best and the most brilliant…we're bringing in a new partner, a new shareholder into the business," he said.
Certares is a private equity firm with offices in New York, Luxembourg and Dubai. Its name may be unfamiliar, but its investments include such well-known brands as AmaWaterways, American Express Global Business Travel, G Adventures, Hertz, Internova Travel Group and TripAdvisor.
"They focus their investments in privately held companies in the travel and tourism, hospitality business and consumer services sector," Anderson explained. "We are very, very excited about the opportunities to work alongside the brilliant people over there," he said.
Since 2018, the company has been committed following to a five-phase initiative, dubbed 'Avoya 2025', which is designed to reach the organization's goal of becoming the world's number one vacation platform.
"Here we are, now, towards the end of 2021 and the plan continues," Anderson reflected. "Certainly, there were a lot of distractions, no one expected this unimaginable disruption, but we never lost sight of our ambitions and we're still heading in the right direction.
Anderson said that Centares' core values, "so tightly align with the way that the Andersons have operated for so very long. And, it's been a privilege, we've known about this wonderful team for many, many years." He continued, "I think what's so exciting about this is, partnered with Certares, is going to let us achieve those wildest dreams that, maybe as a family business, we didn't have that same opportunity to accomplish."
Anderson said to expect to see a lot of changes and rapid growth within the company. Co-founder Van Anderson will be retiring almost immediately. His brother, co-founder Brad Anderson will be transitioning into the role of senior advisor for the organization. Day-to-day operations will continue to be overseen by Jeff and Michael Anderson, who currently hold the titles of co-presidents, but who'll now be moving into the roles of co-CEOs.
"We already have a very, very good thing going on here. Certares has been very deep into understanding our business and we're really proud of the fact that they've decided to put money behind what they see here," he said. And that's a huge testimony to every single person who's contributed to Avoya. We're really just humbled at this."
Anderson said that Centares', "investment in the Avoya platform means tremendous growth for the future. I'm so excited about the confidence they have in what we're doing here…The growth [trajectory] that we're going to be on is going to be a wild, exciting adventure."
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