Following the recent acquisition of Red Label Vacations by Japan’s H.I.S. Group, industry veterans Joe and Enzo DeMarinis have announced their retirement from travel.
In an interview with PAX, Joe DeMarinis explained that his and Enzo’s retirements were part of the acquisition deal, announced in January.
Meanwhile, he said that Frank DeMarinis will continue on as CEO of Red Label Vacations Inc., which operates redtag.ca, itravel2000.com, The Travel Experts and TravelBrands. Through the acquisition, Red Label will continue to operate as an independent, wholly-owned subsidiary of H.I.S., the company said in a previous statement.
“It’s in good hands,” DeMarinis said of the company. “I can’t really comment about what’s coming down the pipe but there’s a great future there.”
The H.I.S. acquisition comes nearly six years after Red Label Vacations (founded by the DeMarinis brothers in 2004) acquired Thomas Cook North America in May 2013, rebranding the business as TravelBrands later that year.
As for retirement plans, DeMarinis said that he’s looking forward to relaxing over the coming months, which will likely include travel.
“I’ve made a lot of friends over the last 30 years and I appreciate everything we’ve done,” he said. “I want to say thank you to everyone, especially the team at Red Label.”
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