With Acquisition, Aquarius Ascends Agency Ranks

<I>Cambridge</I> - Aquarius Travel has acquired Choice Travel Systems of Denver as part of its plans to expand on its position in the industry to leverage greater buying power.

The purchase of Choice, with $34 million in annual air sales, moves Aquarius into the ranks of the 25 largest U.S. travel agencies. Dominic Pugliares, CEO and president of Aquarius, cited Choice Travel's management strength and company stability as major factors behind the purchase.

"We're very firm believers that in this industry you either grow or die," said Pugliares, adding that his company is looking for other well-managed companies to place under its belt, particularly in Northern California and Texas, as part of its designs to develop into a national travel agency.

Indeed, through further acquisitions, Pugliares hopes to steer his company to $250 million in air sales revenues by the end of the year.

"I really think that what you're going to see emerge out of this last round of mergers, consolidations and acquisitions," said Pugliares, "is some of the very strong regional players become smaller national players, and that's absolutely our goal."

Other than some redundant positions in the information systems and accounting departments, Pugliares said he does not anticipate eliminating any jobs as a result of the merger. Gary Buderus, former president and CEO of Choice Travel, will continue to oversee the Denver operation as Aquarius senior vice president of sales and marketing for the western region.

The company also is benefitting from its franchisee status with BTI Americas. BTI's size and technological and industry experience are important advantages for any smaller company looking to grow in the changing travel industry, Pugliares said, but he sees a potential conflict between his national aspirations and the continued affiliation with BTI.

Aquarius already has competed against BTI Americas for clients during their nearly two-year relationship.

"We made a good marriage, but I need to be concerned about the growth and the survivability of my company right now," Pugliares said. "I think that the only way we're going to survive long term is to have our own presence and continue to build the size of the company.