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TORONTO — The acquisition of TravelBrands parent company Red Label Vacations Inc. by a subsidiary of H.I.S. Co., Ltd. (H.I.S.) is now official and TravelBrands President and CEO Frank DeMarinis and his executive team say they’re excited to lead the company forward.
DeMarinis will continue on as president and CEO of TravelBrands, overseeing a portfolio of both retail and wholesale brands including Sunquest, TravelBrands Cruises by Encore Cruises, Exotik Journeys and more. In addition to TravelBrands, Red Label Vacations also operates The Travel Experts, redtag.ca and itravel2000.com.
TravelBrands’ executive team members include:
DeMarinis says the completion of the sale brings a new stage of growth and development for the organization as a whole. “With the support of H.I.S., TravelBrands is expecting to enhance its service and offerings to travellers and travel agents alike.”
H.I.S. is a publicly traded multi-national travel company based in Japan, with over 12,000 employees worldwide and a global footprint in a range of sectors beyond travel, including theme parks, hotels and others.
Under the agreement with H.I.S., Red Label Vacations will continue to operate as an independent, wholly-owned subsidiary of H.I.S.
H.I.S. also purchased Jonview Canada from Transat in 2017, and acquired a majority stake in Merit Travel in 2016.