Private equity firm Citation Capital has made a strategic investment in World Travel Holdings (No. 16 on Travel Weekly’s Power List).
Citation, founded in 2023, focuses on investments into founder- and family-led middle-market businesses. World Travel Holdings (WTH) is its fourth investment, founder and managing partner Tiffany Hagge said in a release.
“Its scaled, asset-light, multichannel model and deep supplier relationships uniquely position the company to capitalize on sustained demand for premium experiences,” Hagge added. “Our focus is on continuing to capture this growth and we are excited for a strong partnership with the founders and entire leadership team.”
WTH’s cofounders and co-CEOs Jeff and Brad Tolkin will continue to lead the company’s day-to-day operations, WTH said. They will also continue to hold significant ownership in the company.
WTH is responsible for more than $2.5 billion in annual booking volume and is home to travel agency franchise brands Dream Vacations and CruiseOne. It also owns nearly 40 brands focused on selling cruises, villas, resort vacations, resort day passes and luxury travel services.
“Jeff and Brad have built an exceptional business alongside a highly experienced management team, serving a large and growing segment of consumers who are increasingly prioritizing real-life, high-quality travel experiences,” Citation cofounder and president Lydie Hudson said. “We look forward to partnering with Jeff, Brad and the full World Travel Holdings team to build on this momentum and meet growing demand.”
Jeff said the partnership with Citation will help the company continue to scale.
