MILWAUKEE, Nov. 9, 2012 /PRNewswire/ -- Adelman Travel Group ( www.adelmantravel.com) has announced it will acquire Great Southern Travel, the travel agency division of Great Southern Financial Corporation (NASDAQ: GSBC). The deal is the largest acquisition in Adelman's history and caps a series of business moves that will increase the company's revenue by a projected 25% percent this year.
"We are a very different company than we were two years ago," said Steve Cline, chief operating officer of Adelman Travel Group. "We have always been a strong player in the business and corporate travel sector, but we knew we had to round out our line of services. Bringing in Great Southern Travel opens up a new market for us within corporate travel and greatly expands our vacation travel business."
Great Southern Travel, based in Springfield, Missouri, was founded in 1977 as a division of Great Southern Financial Corporation. It is one of the top 100 travel agencies in the United States, with about 90 employees in 13 locations. Cline said the acquisition is unique, and attractive to Adelman, because it offers no redundancies in employee positions or functions. "In fact, we're looking to hire about a dozen new employees for our corporate headquarters in Milwaukee as a result of the acquisition and other growth."
The Great Southern Travel locations will be rebranded, but Cline said they will operate much the same as they did before. "We have very similar corporate cultures," said Cline. "They have a business that thrives on delivering service and flexible solutions, and their people make the difference. We welcome and look forward to working with the staff of GST."Adelman also announced it has finalized a marketing and co-branding agreement with Summit Performance Group (SPG), a meetings and incentives company based in San Diego, CA. According to Cline, more and more of Adelman's corporate customers interested in meetings and incentives travel are asking Adelman to respond to bid requests or requests for proposals, so it made sense to integrate a corporate/meetings product into Adelman's offerings. Cline said 2012 has been a good year for Adelman. "It has definitely been exciting. We've had a record-breaking year in bringing on new corporate customers, primarily due to integrating account management and consulting services and by offering flexible technology solutions. Our customer retention level is also at a record year for us trending at 100%. And we're just getting started with implementing many of our new initiatives."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV