Austin Travel Becomes Protravel International's Latest Acquisition
July 6, 2010, 3:50 PMBy Michael B. BakerNew York-based Protravel International on Tuesday announced
that it acquired Long Island, N.Y.-based travel agency Austin Travel.
Protravel, which in past years has ranked among the top 30
agencies in Business Travel News’ Business Travel Survey, reported that the
acquisition will bring its annual sales to about $750 million. Austin Travel is
estimated to hit $100 million in sales this year.
Austin Travel has been run by founder Larry Austin and his
three sons for more than 50 years. “We felt we had gone as far as possible as a
regional company,” president and COO Jeff Austin said in a statement. “With the
strength and vitality of Protravel, we believe we have moved Austin Travel onto
a larger and more secure platform for future growth and development.”
Protravel COO Tony Shepherd said the companies immediately
are working on updating systems and integrating operations, including moving
Austin Travel’s Woodmere, N.Y., office to a new nearby location. Austin Travel
is the latest in several acquisitions Protravel has made in the past year,
including Rich Worldwide Travel in Westchester, N.Y., Sue Brown Travel in
Florida and Nelson Custom Vacations in California.