Learn / Ownership & distribution research

Who Really Owns the Travel Industry?

The illusion of unlimited choice: different storefronts can lead to the same corporate group. Behind them, a second network can power the booking.

100

selected brands

control clusters

distinct layers

These figures describe brand concentration within our selected 100-brand sample. They do not represent global travel revenue, bookings, transaction volume, web traffic, or market share.

Research last verified: 2026-09-19

01 / The sample

What we studied: 100 vacation brands

A purposive sample of recognizable vacation booking brands: online travel agencies, package and tour operators, resort brands, vacation rentals, cruises, clubs and exchange storefronts. This is a map of selected choices, not a census or a ranking of the world’s largest businesses.

One brand, one record

A shared booking platform does not erase a distinct consumer brand. Localized versions and Viking’s river/ocean products are not extra records.

Follow control

We group by the highest evidenced corporate group or controlling investment fund. Joint control receives its own cluster.

Keep the layers separate

Brand ownership does not establish who owns a hotel building, supplies a room, handles a reservation or sets the final terms.

02 / Consumer brands → corporate groups

The Ownership Galaxy

Search brand or ownerCategoryFilter by verified price positioning

Showing 100 of 100 sampled brands. Segment filters exclude unclassified brands. Method and evidence ↓

Each circle is one sampled brand. Group membership and counts come from the dataset. Select a node, or use the complete evidence table below. Symbols distinguish relationships.

● Wholly owned brand◐ Majority controlled◇ Joint venture□ Independent group○ Other: group brand / control

“Other” means a documented group brand, licensed storefront or contractual control relationship; a separately disclosed equity percentage is not assumed. Independent means a standalone group in this study, not an absence of major shareholders.

Accessible alternative: all 100 evidence records ↓

03 / Calculated from the sample

Many storefronts. Fewer control groups.

Top 3 clusters

32 / 100

Count of sampled brands, not market share

Top 5 clusters

48 / 100

Count of sampled brands, not market share

Top 10 clusters

70 / 100

Count of sampled brands, not market share

Sampled brands by ultimate ownership/control cluster

DERTOUR / REWE12
Apollo-managed funds / TTC11
Expedia Group9
Carnival Corporation8
Hyatt Hotels Corporation8
Travel + Leisure Co.8
eDreams ODIGEO4
lastminute.com group4
Artémis / PONANT3
Booking Holdings3
Flight Centre Travel Group3
Norwegian Cruise Line Holdings3
Royal Caribbean Group3
The Walt Disney Company3
Trip.com Group3
TUI Group3
Airbnb2
MSC Group2
On the Beach Group2
TUI / Royal Caribbean joint venture2
Fosun International1
Intrepid Travel1
Tripadvisor Group1
Viking Holdings1

These figures describe brand concentration within our selected 100-brand sample. They do not represent global travel revenue, bookings, transaction volume, web traffic, or market share.

04 / Interpretation

Why keep multiple brands?

Different audiences, destinations, service styles and price positions can support distinct storefronts within one group. Acquisitions can also preserve a familiar brand. These are explanations of the model, not proof that any particular pair shares prices, inventory or customer service.

Compare the actual trip, inclusions, cancellation rules and booking entity. A common parent alone does not tell you which offer is better.

05 / A clearer first example

Cruise ownership, in focus

Cruise brands make the ownership layer easier to see. This subset uses the same records as the galaxy; cruise agencies and other non-cruise storefronts are excluded.

Apollo-managed funds / TTC (1)

UniworldOther: group brand / control [B][C][D]

Carnival Corporation (8)

Carnival Cruise LineOther: group brand / control [F]
Princess CruisesOther: group brand / control [F]
Holland America LineOther: group brand / control [F]
CunardOther: group brand / control [F]
SeabournOther: group brand / control [F]
AIDA CruisesOther: group brand / control [F]
Costa CruisesOther: group brand / control [F]
P&O CruisesOther: group brand / control [F]

Artémis / PONANT (3)

PONANT ExplorationsOther: group brand / control [T]
Paul Gauguin CruisesOther: group brand / control [T]
Aqua ExpeditionsMajority controlled [T][U]

Norwegian Cruise Line Holdings (3)

Norwegian Cruise LineOther: group brand / control [S]
Oceania CruisesOther: group brand / control [S]
Regent Seven Seas CruisesOther: group brand / control [S]

Royal Caribbean Group (3)

Royal Caribbean InternationalWholly owned brand [R]
Celebrity CruisesWholly owned brand [R]
SilverseaWholly owned brand [R]

The Walt Disney Company (1)

Disney Cruise LineOther: group brand / control [Y]

TUI Group (1)

Marella CruisesOther: group brand / control [L][AC]

MSC Group (2)

MSC CruisesOther: group brand / control [W]
Explora JourneysOther: group brand / control [W]

TUI / Royal Caribbean joint venture (2)

Mein SchiffJoint venture [R][AB][AC]
Hapag-Lloyd CruisesJoint venture [R][AB][AC]

Viking Holdings (1)

VikingIndependent group [AA]

Mein Schiff and Hapag-Lloyd sit in the TUI / Royal Caribbean joint venture, counted once. Aqua Expeditions is majority controlled, not represented as wholly owned. [AB][AC][U]

Consumer lens / Price positioning

Different brands. Different price positions.

Where do these brands position themselves? These categories follow their official descriptions. They are not measured price ranges, a cheapest-to-book ranking or a guarantee of affordability. A premium cabin and a basic cabin can sit inside the same brand.

14 of 100 sampled brands verified for positioning. The other 86 are excluded from these charts because this review does not have sufficient verified positioning evidence for them. That does not mean information is unavailable everywhere. Reviewed 2026-09-19.

Positioning within the verified subset

One brand = one count. Percentages use only the 14 classified brands.

Value / budget17.1%
Mainstream17.1%
Premium214.3%
Luxury / ultra-luxury1071.4%

This selected subset is weighted toward brands with explicit positioning language. Its mix cannot describe all 100 brands or the travel market.

One owner can span several segments

Stacked counts of verified brands; the same scale applies to every owner.

Apollo-managed funds / TTC4

Value / budget: 1 · Premium: 1 · Luxury / ultra-luxury: 2

Royal Caribbean Group3

Mainstream: 1 · Premium: 1 · Luxury / ultra-luxury: 1

Norwegian Cruise Line Holdings2

Luxury / ultra-luxury: 2

Artémis / PONANT1

Luxury / ultra-luxury: 1

Carnival Corporation1

Luxury / ultra-luxury: 1

DERTOUR / REWE1

Luxury / ultra-luxury: 1

Flight Centre Travel Group1

Luxury / ultra-luxury: 1

MSC Group1

Luxury / ultra-luxury: 1

Inspect all 14 classifications and primary sources

Costsaver · Value / budget

Publisher describes budget tours.

Source edition: US · Checked 2026-09-19

[AU]

Royal Caribbean International · Mainstream

Contemporary and family market; mapped to mainstream.

Source edition: International English · Checked 2026-09-19

[AT]

Celebrity Cruises · Premium

Publisher identifies premium travel.

Source edition: International English · Checked 2026-09-19

[AT]

Insight Vacations · Premium

Publisher identifies premium guided tours.

Source edition: US · Checked 2026-09-19

[AV]

Silversea · Luxury / ultra-luxury

Current corporate homepage identifies luxury and expedition travel.

Source edition: International English · Checked 2026-09-19

[AT]

Oceania Cruises · Luxury / ultra-luxury

Current brand page identifies luxury cruising; older premium labels are not used.

Source edition: International English · Checked 2026-09-19

[S]

Regent Seven Seas Cruises · Luxury / ultra-luxury

Publisher identifies ultra-luxury cruising.

Source edition: International English · Checked 2026-09-19

[S]

Luxury Gold · Luxury / ultra-luxury

Publisher identifies luxury guided tours.

Source edition: US · Checked 2026-09-19

[AW]

Scott Dunn · Luxury / ultra-luxury

Publisher identifies luxury vacations.

Source edition: US · Checked 2026-09-19

[AX]

Seabourn · Luxury / ultra-luxury

Publisher identifies luxury cruises.

Source edition: AU · Checked 2026-09-19

[AY]

Explora Journeys · Luxury / ultra-luxury

Publisher identifies luxury cruises.

Source edition: International English · Checked 2026-09-19

[AZ]

Carrier · Luxury / ultra-luxury

Official site title identifies luxury holidays.

Source edition: UK · Checked 2026-09-19

[BA]

Uniworld · Luxury / ultra-luxury

Publisher identifies all-inclusive luxury river cruising.

Source edition: US · Checked 2026-09-19

[BB]

Aqua Expeditions · Luxury / ultra-luxury

Publisher identifies luxury small-ship cruising.

Source edition: International English · Checked 2026-09-19

[BC]

Compare the same trip

Match dates, room or cabin, occupancy, meals, baggage, cancellation terms and currency.

Compare the total

Include taxes, mandatory fees, transport and any membership cost. Brand positioning alone cannot tell you the final price.

Keep the membership layer separate

Travorium is not assigned a budget or luxury band: its membership model does not establish the price position of every offer available through it.

06 / Ownership is not the whole story

Brand ≠ Owner ≠ Inventory Source

Three questions, three different answers

Brand: whose storefront do you recognize?
Owner: who controls that brand or business?
Inventory / fulfillment: who supplies or processes this booking?

Conceptual model, not a claim of a commercial relationship between unnamed companies.

A booking channel can distribute another company’s products. An exchange network can connect members to available stays. A technology provider can process reservations. None of these facts, by itself, transfers ownership of the consumer brand.

07 / A different kind of network

Behind the Booking: Who Powers the Marketplace?

Read each line from service provider to receiving storefront. These are selected documented relationships, not an exhaustive supplier map. A line does not mean exclusivity or that every booking passes through that provider.

Verified service relationships · separate from ownership

Viatorexperiences distributionExpedia
Selected experiences distributed through a partner; not every booking. [V]
Viatorexperiences distributionBooking.com
Distribution relationship, not common ownership. [V]
WebBedsaccommodation inventoryOn the Beach
February 2026 strategic supply agreement; not proof of exclusive supply. [AH]
TUI Musementactivities platformlastminute.com
Tours and activities, not all holiday inventory. [AI]
TUI Musementactivities platformweg.de
Tours and activities integration. [AI]
RCIvacation exchangeClub Wyndham
Eligible owners access exchange inventory under applicable rules. [AJ]
Leisure Loyaltyreservation / technology fulfillmentTravorium
Agreement names this provider; upstream inventory suppliers are not identified here. [AK]

Text alternative: every line names its provider, recipient, service and evidence. No relationships to Travelfusion or unnamed Travorium bedbanks, GDSs or wholesalers are inferred.

08 / Membership is another access model

Membership travel exists elsewhere too

Vacation clubs, exchange programs and membership booking services already appear in the sample: Club Wyndham, RCI, 7Across and Travel + Leisure GO. Their eligibility, ownership obligations and benefits differ. They are not interchangeable versions of a single product. [H][I][J]

A membership layer describes how a traveler accesses benefits. It does not establish that the membership company owns the underlying hotels or all inventory.

Consumer lens / Membership & loyalty

What does staying loyal actually unlock?

A lower member rate, a room upgrade and points toward a future trip are different benefits. This evidence map groups them into 9 consistent categories. Counts describe documented categories across the stated tiers, not monetary value, a complete benefit inventory or everything a new member receives.

5 program examples cover 18 of the 100 sampled brands. The remaining 82 have no benefit assessment in this comparison. Travorium is an additional example outside the sample. A missing category means not assessed here, not “no benefit.”

Booking.com Genius

4 categories

Free account; higher levels require completed bookings.

Worldwide participating offers; Levels 1–3, not every stay.

✓ Member pricing / access
✓ Room upgrades
✓ Breakfast / lounge
✓ Priority service

Conditions and evidence

Member pricing / access: Selected stays and rental cars. [BD]
Room upgrades: Selected stays, Levels 2–3. [BD]
Breakfast / lounge: Breakfast at selected stays, Levels 2–3. [BD]
Priority service: Stay support at Level 3. [BD]

Sampled brands mapped: Booking.com. [BD]

One Key / US rewards

4 categories

Account enrollment; eligibility and brand-specific terms apply.

US storefront terms only. Canadian availability is not assumed. Hotels.com stamps in other regions are separate.

✓ Member pricing / access
✓ Booking-earned rewards
✓ Reward redemption
✓ Cross-brand recognition / use

Conditions and evidence

Member pricing / access: Eligible Member Prices; brand and offer conditions. [BE]
Booking-earned rewards: OneKeyCash on eligible bookings; rules vary by brand. [BE]
Reward redemption: Eligible rewards bookings; restrictions apply, not cash withdrawal. [BE]
Cross-brand recognition / use: Participating US Expedia, Hotels.com and Vrbo rewards. [BE]

Sampled brands mapped: Expedia, Hotels.com, Vrbo. [BE]

World of Hyatt

7 categories

Free base membership; elite benefits require qualifying activity.

Member through Globalist. Participating properties and eligible rates only; listed resort brands do not receive every benefit.

✓ Member pricing / access
✓ Booking-earned rewards
✓ Reward redemption
✓ Room upgrades
✓ Breakfast / lounge
✓ Late checkout
✓ Cross-brand recognition / use

Conditions and evidence

Member pricing / access: Eligible member rates. [BF]
Booking-earned rewards: Eligible stay/spend points. [BF]
Reward redemption: Eligible award nights. [BF]
Room upgrades: Tier-dependent room upgrades, subject to availability/exclusions. [BF]
Breakfast / lounge: Globalist breakfast or lounge access where applicable; not an extra all-inclusive meal entitlement. [BF]
Late checkout: Elite-tier checkout benefit; location/availability exceptions. [BF]
Cross-brand recognition / use: One program across participating Inclusive Collection properties. [BG]

Sampled brands mapped: Hyatt Ziva, Hyatt Zilara, Secrets Resorts & Spas, Dreams Resorts & Spas, Breathless Resorts & Spas, Zoëtry Wellness & Spa Resorts, Alua Hotels & Resorts, Sunscape Resorts & Spas. [BF][BG]

Global Tour Rewards

2 categories

Past-traveler recognition after a qualifying tour.

US page; five explicitly named sampled brands mapped. The headline sixth brand is not inferred.

✓ Member pricing / access
✓ Cross-brand recognition / use

Conditions and evidence

Member pricing / access: Returning-traveler guided-tour offer; booking terms apply. [BH]
Cross-brand recognition / use: Rewards recognized by the named participating sister brands. [BH]

Sampled brands mapped: Costsaver, Insight Vacations, Trafalgar, Brendan Vacations, Contiki. [BH]

Crown & Anchor Society

3 categories

Free enrollment; completed sailing activity builds status.

Royal Caribbean program. Benefits depend on tier. Cruise points measure status, not a spending balance.

✓ Member pricing / access
✓ Priority service
✓ Cross-brand recognition / use

Conditions and evidence

Member pricing / access: Tier-qualified savings and member offers. [BI]
Priority service: Priority benefits at qualifying tiers. [BI]
Cross-brand recognition / use: Status Match and Points Choice have separate eligibility rules. [BJ][BK][BI]

Sampled brands mapped: Royal Caribbean International. [BI][BJ][BK]

Travorium membership

4 categories

Paid membership; plan, activation and recurring fees must be checked in current local terms.

Additional comparison, outside the 100-brand sample. Membership access and reward systems are distinct; benefits depend on plan and active status.

✓ Member pricing / access
✓ Membership-payment rewards
✓ Booking-earned rewards
✓ Reward redemption

Conditions and evidence

Member pricing / access: Access to the membership travel offering, subject to plan and booking terms; no lowest-price guarantee. [AK]
Membership-payment rewards: Qualifying membership payments credit Travel Points. [AP]
Booking-earned rewards: Eligible Legacy bookings earn separate Loyalty Points. [BL]
Reward redemption: Travel Points reduce eligible Getaways/World Tours rates; Legacy points have separate eligible uses. [AP][BL]

Does loyalty travel between sister brands?

Sometimes, through a documented program. Shared ownership alone proves nothing about reward portability. These 5 verified mechanisms involve 19 sampled brands; no connection is inferred for the others.

One Key / USShared reward system

Expedia
Hotels.com
Vrbo

Eligible OneKeyCash earn/use across participating US brands. Brand, booking and regional exceptions apply; this is not every Expedia Group storefront. [BE]

World of HyattShared program

Hyatt Ziva
Hyatt Zilara
Secrets Resorts & Spas
Dreams Resorts & Spas
Breathless Resorts & Spas
Zoëtry Wellness & Spa Resorts
Alua Hotels & Resorts
Sunscape Resorts & Spas

Participating properties use World of Hyatt. Eligible rates and property exclusions apply. [BF][BG]

Global Tour RewardsReturning-traveler recognition

Costsaver
Insight Vacations
Trafalgar
Brendan Vacations
Contiki

The official page names these five sampled brands. Recognition does not establish a common points wallet. [BH]

Royal Caribbean GroupStatus match

Royal Caribbean International
Celebrity Cruises
Silversea

Equivalent tier recognition; age 18+ and enrollment in each program. Benefits remain program-specific. [BJ]

Royal Caribbean GroupPoints allocation

Royal Caribbean International
Celebrity Cruises
Silversea

For qualifying sailings from January 30, 2026, choose the receiving program. Request by 14 days after sailing; program exchange rates apply. Not a shared cash balance. [BK][BI]

Evaluate loyalty against your own travel

Compare an equivalent trip’s final total first. Then count only rewards you are likely to redeem and perks you would otherwise pay for; subtract membership fees and any extra spending needed to qualify. Do not count unused upgrades, inaccessible award inventory or the same saving twice. More listed categories do not automatically mean more value.

Reviewed 2026-09-19. Promotional earning rates, credit-card benefits, referral incentives and unverified programs are outside this comparison.

09 / Applying the framework

Where Does Travorium Fit?

Independent-site disclosure: YuriyTravelHub is an independent Travorium Partner site, not Travorium corporate. This comparison explains architecture; it does not establish that Travorium is automatically superior.

Travorium adds a membership and product layer. Its current public Membership Agreement identifies Leisure Loyalty, Inc. for reservation and technology services. That evidence does not identify an upstream wholesaler or prove a link to the other providers in our network. [AK]

Traditional OTA

Traveler
OTA / consumer storefront
Documented booking service / travel supplier

Conceptual booking flow; arrangements vary.

Travorium membership

Member
Travorium membership / product layer
Leisure Loyalty: reservation and technology services

Only the named fulfillment relationship is verified here. No upstream provider is asserted.

What changes

Access requirements, membership costs, benefit eligibility and the applicable product rules need to be considered alongside the trip.

What does not follow

Membership does not prove the lowest price, ownership of hotels or universal availability. Compare like-for-like dates, room types, taxes, inclusions and cancellation terms.

10 / Distinct products and conditions

Travel Points, Getaways and World Tours

Broader travel ecosystem

Booking categories depend on the current platform and membership. Do not collapse hotels, resorts, cruises, cars and activities into Dreamcation.

Dreamcation / Getaways

Dreamcation is the curated, points-powered resort-stay area, not the full flight, car or cruise booking engine. Eligible Travel Points can reduce eligible displayed Getaway pricing.

Travel Points

A restricted travel benefit for eligible Dreamcation / Getaway / World Tour pricing under current terms. Not cash, and no fixed dollar exchange value. Keep them separate from Loyalty Points and Reward Credits.

World Tours

Curated, scheduled group experiences with varying inclusions. Current training says flights are not included in the described tour price. Ask for current tour details.

Current training specifies a 24-month Travel Point expiry and no combining points between accounts for Getaways. Current applicable terms control; check before booking. [AK][AL][AM][AP]

Understand the separate reward systems →

11 / Read this before quoting the numbers

Methodology & limitations

Selection is purposive and portfolio based, with substantial English-language/European leisure-brand coverage. It is not random, geographically representative or weighted by bookings, revenue or traffic.
A distinct consumer brand/storefront counts once, including brand sections on shared corporate domains. Hotel brands refer to brand control, not ownership of every resort. B2B-only, airline-only, flight-only, pure metasearch and restaurant products are excluded.
“Ultimate owner” stops at the evidenced corporate reporting/control group or investment funds. It is not a complete beneficial-owner register. Private fund management is distinguished from direct corporate ownership.
Where the primary source establishes a group brand but not a percentage, the record says “Other: group brand / control.” Undisclosed intermediate holding companies are null, not invented. Operating-company fields identify the disclosed operating group, not necessarily your contracting legal entity.
Joint ventures form a separate cluster; each brand is counted once. Contractual VIE control is distinguished from equity ownership. Licensed names do not merge otherwise separate companies.
Sources were checked on 2026-09-19. A live portfolio page corroborates current presence; a transaction announcement alone is not treated as completion. Ownership and distribution can change independently.
The brief supplied aggregate working counts but no row-level list. This reproducible sample has 24 clusters and Top 3 / 5 / 10 totals of 32 / 48 / 70. The working values were approximately 21 and 32 / 48 / 73. Differences reflect explicit selection and joint-control treatment, not a measured change in global concentration.
Flight-focused/metasearch/restaurant candidates were not used to fill the sample. P&O Australia and Classic Collection were excluded after discontinuation. No unsupported upstream Travorium relationships were added.

These figures describe brand concentration within our selected 100-brand sample. They do not represent global travel revenue, bookings, transaction volume, web traffic, or market share.

12 / Row-level audit trail

All 100 brands and their evidence

Every galaxy node resolves here. Expand a record for the classification, source locator and limitations. All records and sources are available in server-rendered HTML.

All 100 records remain available below. Scroll the table to inspect each brand; links from the map jump directly to its row.

One row per included consumer brand / storefront
Brand / category	Ownership / control cluster	Evidence
DERTOURtour operator	DERTOUR / REWEOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: DERTOUR Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[A][AS] Source locator DERTOUR — named portfolio entry / business description in A, AS Reviewed 2026-09-19
ITStour operator	DERTOUR / REWEOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: DERTOUR Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[A][AS] Source locator ITS — named portfolio entry / business description in A, AS Reviewed 2026-09-19
Meiers Weltreisentour operator	DERTOUR / REWEOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: DERTOUR Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[A][AS] Source locator Meiers Weltreisen — named portfolio entry / business description in A, AS Reviewed 2026-09-19
Kuonitour operator	DERTOUR / REWEOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: DERTOUR Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[A][AS] Source locator Kuoni — named portfolio entry / business description in A, AS Reviewed 2026-09-19
Apollotour operator	DERTOUR / REWEOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. This is the Nordic tour brand, unrelated to the Apollo investment-manager name in the TTC cluster. Operating group: DERTOUR Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[A][AS] Source locator Apollo — named portfolio entry / business description in A, AS Reviewed 2026-09-19
BILLA Reisentour operator	DERTOUR / REWEOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: DERTOUR Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[A][AS] Source locator BILLA Reisen — named portfolio entry / business description in A, AS Reviewed 2026-09-19
Explore Worldwidetour operator	DERTOUR / REWEOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: DERTOUR Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[A][AS] Source locator Explore Worldwide — named portfolio entry / business description in A, AS Reviewed 2026-09-19
Inghamstour operator	DERTOUR / REWEOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: DERTOUR Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[A][AS] Source locator Inghams — named portfolio entry / business description in A, AS Reviewed 2026-09-19
Inntraveltour operator	DERTOUR / REWEOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: DERTOUR Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[A][AS] Source locator Inntravel — named portfolio entry / business description in A, AS Reviewed 2026-09-19
Jules Vernetour operator	DERTOUR / REWEOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: DERTOUR Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[A][AS] Source locator Jules Verne — named portfolio entry / business description in A, AS Reviewed 2026-09-19
Carriertour operator	DERTOUR / REWEOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: DERTOUR Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[A][AS] Source locator Carrier — named portfolio entry / business description in A, AS Reviewed 2026-09-19
Kirkertour operator	DERTOUR / REWEOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: DERTOUR Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[A][AS] Source locator Kirker — named portfolio entry / business description in A, AS Reviewed 2026-09-19
Trafalgartour operator	Apollo-managed funds / TTCOther: group brand / control Classification details TTC controlled by Apollo-managed investment funds. Apollo Global Management is the manager, not asserted to own every brand directly. Red Carnation excluded. Operating group: The Travel Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[B][C][D] Source locator Trafalgar — named portfolio entry / business description in B, C, D Reviewed 2026-09-19
Insight Vacationstour operator	Apollo-managed funds / TTCOther: group brand / control Classification details TTC controlled by Apollo-managed investment funds. Apollo Global Management is the manager, not asserted to own every brand directly. Red Carnation excluded. Operating group: The Travel Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[B][C][D] Source locator Insight Vacations — named portfolio entry / business description in B, C, D Reviewed 2026-09-19
Contikitour operator	Apollo-managed funds / TTCOther: group brand / control Classification details TTC controlled by Apollo-managed investment funds. Apollo Global Management is the manager, not asserted to own every brand directly. Red Carnation excluded. Operating group: The Travel Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[B][C][D] Source locator Contiki — named portfolio entry / business description in B, C, D Reviewed 2026-09-19
Uniworldcruise	Apollo-managed funds / TTCOther: group brand / control Classification details TTC controlled by Apollo-managed investment funds. Apollo Global Management is the manager, not asserted to own every brand directly. Red Carnation excluded. Operating group: The Travel Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[B][C][D] Source locator Uniworld — named portfolio entry / business description in B, C, D Reviewed 2026-09-19
Costsavertour operator	Apollo-managed funds / TTCOther: group brand / control Classification details TTC controlled by Apollo-managed investment funds. Apollo Global Management is the manager, not asserted to own every brand directly. Red Carnation excluded. Operating group: The Travel Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[B][C][D] Source locator Costsaver — named portfolio entry / business description in B, C, D Reviewed 2026-09-19
Luxury Goldtour operator	Apollo-managed funds / TTCOther: group brand / control Classification details TTC controlled by Apollo-managed investment funds. Apollo Global Management is the manager, not asserted to own every brand directly. Red Carnation excluded. Operating group: The Travel Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[B][C][D] Source locator Luxury Gold — named portfolio entry / business description in B, C, D Reviewed 2026-09-19
Brendan Vacationstour operator	Apollo-managed funds / TTCOther: group brand / control Classification details TTC controlled by Apollo-managed investment funds. Apollo Global Management is the manager, not asserted to own every brand directly. Red Carnation excluded. Operating group: The Travel Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[B][C][D] Source locator Brendan Vacations — named portfolio entry / business description in B, C, D Reviewed 2026-09-19
AAT Kingstour operator	Apollo-managed funds / TTCOther: group brand / control Classification details TTC controlled by Apollo-managed investment funds. Apollo Global Management is the manager, not asserted to own every brand directly. Red Carnation excluded. Operating group: The Travel Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[B][C][D] Source locator AAT Kings — named portfolio entry / business description in B, C, D Reviewed 2026-09-19
African Traveltour operator	Apollo-managed funds / TTCOther: group brand / control Classification details TTC controlled by Apollo-managed investment funds. Apollo Global Management is the manager, not asserted to own every brand directly. Red Carnation excluded. Operating group: The Travel Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[B][C][D] Source locator African Travel — named portfolio entry / business description in B, C, D Reviewed 2026-09-19
Lion World Traveltour operator	Apollo-managed funds / TTCOther: group brand / control Classification details TTC controlled by Apollo-managed investment funds. Apollo Global Management is the manager, not asserted to own every brand directly. Red Carnation excluded. Operating group: The Travel Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[B][C][D] Source locator Lion World Travel — named portfolio entry / business description in B, C, D Reviewed 2026-09-19
Grand European Traveltour operator	Apollo-managed funds / TTCOther: group brand / control Classification details TTC controlled by Apollo-managed investment funds. Apollo Global Management is the manager, not asserted to own every brand directly. Red Carnation excluded. Operating group: The Travel Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[B][C][D] Source locator Grand European Travel — named portfolio entry / business description in B, C, D Reviewed 2026-09-19
Expediaota	Expedia GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Expedia Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[E] Source locator Expedia — named portfolio entry / business description in E Reviewed 2026-09-19
Hotels.comota	Expedia GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Expedia Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[E] Source locator Hotels.com — named portfolio entry / business description in E Reviewed 2026-09-19
Vrbovacation rental	Expedia GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Expedia Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[E] Source locator Vrbo — named portfolio entry / business description in E Reviewed 2026-09-19
Travelocityota	Expedia GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Expedia Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[E] Source locator Travelocity — named portfolio entry / business description in E Reviewed 2026-09-19
Orbitzota	Expedia GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Expedia Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[E] Source locator Orbitz — named portfolio entry / business description in E Reviewed 2026-09-19
Hotwireota	Expedia GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Expedia Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[E] Source locator Hotwire — named portfolio entry / business description in E Reviewed 2026-09-19
CheapTicketsota	Expedia GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Expedia Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[E] Source locator CheapTickets — named portfolio entry / business description in E Reviewed 2026-09-19
Wotifota	Expedia GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Expedia Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[E] Source locator Wotif — named portfolio entry / business description in E Reviewed 2026-09-19
Expedia Cruisescruise agency	Expedia GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Franchised local agencies can have separate owners; this row tracks the consumer brand, not ownership of every franchise. Operating group: Expedia Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[E] Source locator Expedia Cruises — named portfolio entry / business description in E Reviewed 2026-09-19
Carnival Cruise Linecruise	Carnival CorporationOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Carnival Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[F] Source locator Carnival Cruise Line — named portfolio entry / business description in F Reviewed 2026-09-19
Princess Cruisescruise	Carnival CorporationOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Carnival Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[F] Source locator Princess Cruises — named portfolio entry / business description in F Reviewed 2026-09-19
Holland America Linecruise	Carnival CorporationOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Carnival Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[F] Source locator Holland America Line — named portfolio entry / business description in F Reviewed 2026-09-19
Cunardcruise	Carnival CorporationOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Carnival Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[F] Source locator Cunard — named portfolio entry / business description in F Reviewed 2026-09-19
Seabourncruise	Carnival CorporationOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Carnival Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[F] Source locator Seabourn — named portfolio entry / business description in F Reviewed 2026-09-19
AIDA Cruisescruise	Carnival CorporationOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Carnival Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[F] Source locator AIDA Cruises — named portfolio entry / business description in F Reviewed 2026-09-19
Costa Cruisescruise	Carnival CorporationOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Carnival Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[F] Source locator Costa Cruises — named portfolio entry / business description in F Reviewed 2026-09-19
P&O Cruisescruise	Carnival CorporationOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Carnival Corporation. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[F] Source locator P&O Cruises — named portfolio entry / business description in F Reviewed 2026-09-19
Hyatt Zivaresort brand	Hyatt Hotels CorporationWholly owned brand Classification details Ownership of the brand trademark through Hyatt subsidiaries; individual resort buildings may have different owners. Operating group: Hyatt Corporation / Hyatt subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. 100% brand ownership.	[G][AN] Source locator Hyatt Ziva — named portfolio entry / business description in G, AN Reviewed 2026-09-19
Hyatt Zilararesort brand	Hyatt Hotels CorporationWholly owned brand Classification details Ownership of the brand trademark through Hyatt subsidiaries; individual resort buildings may have different owners. Operating group: Hyatt Corporation / Hyatt subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. 100% brand ownership.	[G][AN] Source locator Hyatt Zilara — named portfolio entry / business description in G, AN Reviewed 2026-09-19
Secrets Resorts & Spasresort brand	Hyatt Hotels CorporationWholly owned brand Classification details Ownership of the brand trademark through Hyatt subsidiaries; individual resort buildings may have different owners. Operating group: Hyatt Corporation / Hyatt subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. 100% brand ownership.	[G][AN] Source locator Secrets Resorts & Spas — named portfolio entry / business description in G, AN Reviewed 2026-09-19
Dreams Resorts & Spasresort brand	Hyatt Hotels CorporationWholly owned brand Classification details Ownership of the brand trademark through Hyatt subsidiaries; individual resort buildings may have different owners. Operating group: Hyatt Corporation / Hyatt subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. 100% brand ownership.	[G][AN] Source locator Dreams Resorts & Spas — named portfolio entry / business description in G, AN Reviewed 2026-09-19
Breathless Resorts & Spasresort brand	Hyatt Hotels CorporationWholly owned brand Classification details Ownership of the brand trademark through Hyatt subsidiaries; individual resort buildings may have different owners. Operating group: Hyatt Corporation / Hyatt subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. 100% brand ownership.	[G][AN] Source locator Breathless Resorts & Spas — named portfolio entry / business description in G, AN Reviewed 2026-09-19
Zoëtry Wellness & Spa Resortsresort brand	Hyatt Hotels CorporationWholly owned brand Classification details Ownership of the brand trademark through Hyatt subsidiaries; individual resort buildings may have different owners. Operating group: Hyatt Corporation / Hyatt subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. 100% brand ownership.	[G][AN] Source locator Zoëtry Wellness & Spa Resorts — named portfolio entry / business description in G, AN Reviewed 2026-09-19
Alua Hotels & Resortsresort brand	Hyatt Hotels CorporationWholly owned brand Classification details Ownership of the brand trademark through Hyatt subsidiaries; individual resort buildings may have different owners. Operating group: Hyatt Corporation / Hyatt subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. 100% brand ownership.	[G][AN] Source locator Alua Hotels & Resorts — named portfolio entry / business description in G, AN Reviewed 2026-09-19
Sunscape Resorts & Spasresort brand	Hyatt Hotels CorporationWholly owned brand Classification details Ownership of the brand trademark through Hyatt subsidiaries; individual resort buildings may have different owners. Operating group: Hyatt Corporation / Hyatt subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. 100% brand ownership.	[G][AN] Source locator Sunscape Resorts & Spas — named portfolio entry / business description in G, AN Reviewed 2026-09-19
Club Wyndhamvacation club	Travel + Leisure Co.Other: group brand / control Classification details Vacation ownership storefront operated in Travel + Leisure Co.; Wyndham trademark is licensed from the separate Wyndham Hotels business. Operating group: Travel + Leisure Co. subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[H][I][J] Source locator Club Wyndham — named portfolio entry / business description in H, I, J Reviewed 2026-09-19
WorldMarkvacation club	Travel + Leisure Co.Other: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Travel + Leisure Co. subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[H][I][J] Source locator WorldMark — named portfolio entry / business description in H, I, J Reviewed 2026-09-19
Shell Vacations Clubvacation club	Travel + Leisure Co.Other: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Travel + Leisure Co. subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[H][I][J] Source locator Shell Vacations Club — named portfolio entry / business description in H, I, J Reviewed 2026-09-19
Extra Holidayshotel booking	Travel + Leisure Co.Other: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Travel + Leisure Co. subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[H][I][J] Source locator Extra Holidays — named portfolio entry / business description in H, I, J Reviewed 2026-09-19
RCIexchange	Travel + Leisure Co.Other: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Travel + Leisure Co. subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[H][I][J] Source locator RCI — named portfolio entry / business description in H, I, J Reviewed 2026-09-19
7Acrossexchange	Travel + Leisure Co.Other: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Travel + Leisure Co. subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[H][I][J] Source locator 7Across — named portfolio entry / business description in H, I, J Reviewed 2026-09-19
Armed Forces Vacation Clubmembership travel	Travel + Leisure Co.Other: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Travel + Leisure Co. subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[H][I][J] Source locator Armed Forces Vacation Club — named portfolio entry / business description in H, I, J Reviewed 2026-09-19
Travel + Leisure GOmembership travel	Travel + Leisure Co.Other: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Travel + Leisure Co. subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[H][I][J] Source locator Travel + Leisure GO — named portfolio entry / business description in H, I, J Reviewed 2026-09-19
Flight Centretravel agency	Flight Centre Travel GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Flight Centre Travel Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[K] Source locator Flight Centre — named portfolio entry / business description in K Reviewed 2026-09-19
Travel Associatestravel agency	Flight Centre Travel GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Flight Centre Travel Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[K] Source locator Travel Associates — named portfolio entry / business description in K Reviewed 2026-09-19
Scott Dunntravel agency	Flight Centre Travel GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Flight Centre Travel Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[K] Source locator Scott Dunn — named portfolio entry / business description in K Reviewed 2026-09-19
TUIpackage operator	TUI GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: TUI Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[L][AC] Source locator TUI — named portfolio entry / business description in L, AC Reviewed 2026-09-19
First Choicepackage operator	TUI GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: TUI Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[L][AC] Source locator First Choice — named portfolio entry / business description in L, AC Reviewed 2026-09-19
Marella Cruisescruise	TUI GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: TUI Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[L][AC] Source locator Marella Cruises — named portfolio entry / business description in L, AC Reviewed 2026-09-19
eDreamsota	eDreams ODIGEOOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: eDreams ODIGEO. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[M] Source locator eDreams — named portfolio entry / business description in M Reviewed 2026-09-19
Opodoota	eDreams ODIGEOOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: eDreams ODIGEO. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[M] Source locator Opodo — named portfolio entry / business description in M Reviewed 2026-09-19
GO Voyagesota	eDreams ODIGEOOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: eDreams ODIGEO. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[M] Source locator GO Voyages — named portfolio entry / business description in M Reviewed 2026-09-19
Travellinkota	eDreams ODIGEOOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: eDreams ODIGEO. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[M] Source locator Travellink — named portfolio entry / business description in M Reviewed 2026-09-19
lastminute.comota	lastminute.com groupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: lastminute.com group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[N] Source locator lastminute.com — named portfolio entry / business description in N Reviewed 2026-09-19
weg.deota	lastminute.com groupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: lastminute.com group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[N] Source locator weg.de — named portfolio entry / business description in N Reviewed 2026-09-19
Rumboota	lastminute.com groupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: lastminute.com group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[N] Source locator Rumbo — named portfolio entry / business description in N Reviewed 2026-09-19
Volagratisota	lastminute.com groupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: lastminute.com group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[N] Source locator Volagratis — named portfolio entry / business description in N Reviewed 2026-09-19
Booking.comota	Booking HoldingsOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Booking Holdings subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[O] Source locator Booking.com — named portfolio entry / business description in O Reviewed 2026-09-19
Pricelineota	Booking HoldingsOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Booking Holdings subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[O] Source locator Priceline — named portfolio entry / business description in O Reviewed 2026-09-19
Agodaota	Booking HoldingsOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Booking Holdings subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[O] Source locator Agoda — named portfolio entry / business description in O Reviewed 2026-09-19
Trip.comota	Trip.com GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Trip.com Group subsidiaries and consolidated VIEs. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[P][Q] Source locator Trip.com — named portfolio entry / business description in P, Q Reviewed 2026-09-19
Ctripota	Trip.com GroupOther: group brand / control Classification details Contractual VIE control/consolidation. Trip.com Group has no direct equity ownership in the Chinese VIEs; this is not a wholly owned onshore-company claim. Operating group: Trip.com Group subsidiaries and consolidated VIEs. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[P][Q] Source locator Ctrip — named portfolio entry / business description in P, Q Reviewed 2026-09-19
Qunarota	Trip.com GroupOther: group brand / control Classification details Contractual VIE control/consolidation. Trip.com Group has no direct equity ownership in the Chinese VIEs; this is not a wholly owned onshore-company claim. Operating group: Trip.com Group subsidiaries and consolidated VIEs. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[P][Q] Source locator Qunar — named portfolio entry / business description in P, Q Reviewed 2026-09-19
Royal Caribbean Internationalcruise	Royal Caribbean GroupWholly owned brand Classification details Wholly owned cruise brand, as identified by the group. Operating group: Royal Caribbean Group. Intermediate legal owner: not separately disclosed in the cited evidence. 100% brand ownership.	[R] Source locator Royal Caribbean International — named portfolio entry / business description in R Reviewed 2026-09-19
Celebrity Cruisescruise	Royal Caribbean GroupWholly owned brand Classification details Wholly owned cruise brand, as identified by the group. Operating group: Royal Caribbean Group. Intermediate legal owner: not separately disclosed in the cited evidence. 100% brand ownership.	[R] Source locator Celebrity Cruises — named portfolio entry / business description in R Reviewed 2026-09-19
Silverseacruise	Royal Caribbean GroupWholly owned brand Classification details Wholly owned cruise brand, as identified by the group. Operating group: Royal Caribbean Group. Intermediate legal owner: not separately disclosed in the cited evidence. 100% brand ownership.	[R] Source locator Silversea — named portfolio entry / business description in R Reviewed 2026-09-19
Norwegian Cruise Linecruise	Norwegian Cruise Line HoldingsOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Norwegian Cruise Line Holdings. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[S] Source locator Norwegian Cruise Line — named portfolio entry / business description in S Reviewed 2026-09-19
Oceania Cruisescruise	Norwegian Cruise Line HoldingsOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Norwegian Cruise Line Holdings. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[S] Source locator Oceania Cruises — named portfolio entry / business description in S Reviewed 2026-09-19
Regent Seven Seas Cruisescruise	Norwegian Cruise Line HoldingsOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Norwegian Cruise Line Holdings. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[S] Source locator Regent Seven Seas Cruises — named portfolio entry / business description in S Reviewed 2026-09-19
PONANT Explorationscruise	Artémis / PONANTOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: PONANT Explorations Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[T] Source locator PONANT Explorations — named portfolio entry / business description in T Reviewed 2026-09-19
Paul Gauguin Cruisescruise	Artémis / PONANTOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: PONANT Explorations Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[T] Source locator Paul Gauguin Cruises — named portfolio entry / business description in T Reviewed 2026-09-19
Aqua Expeditionscruise	Artémis / PONANTMajority controlled Classification details PONANT acquired a majority stake; founder remains a shareholder. Exact percentage not disclosed. Operating group: PONANT Explorations Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[T][U] Source locator Aqua Expeditions — named portfolio entry / business description in T, U Reviewed 2026-09-19
Viatortour marketplace	Tripadvisor GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Viator. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[V][AQ] Source locator Viator — named portfolio entry / business description in V, AQ Reviewed 2026-09-19
MSC Cruisescruise	MSC GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: MSC Group cruise division. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[W] Source locator MSC Cruises — named portfolio entry / business description in W Reviewed 2026-09-19
Explora Journeyscruise	MSC GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: MSC Group cruise division. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[W] Source locator Explora Journeys — named portfolio entry / business description in W Reviewed 2026-09-19
Airbnbvacation rental	AirbnbIndependent group Classification details Standalone reporting/operating group for this study, not a claim of dispersed share ownership or absence of controlling shareholders. Operating group: Airbnb. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[X][AO] Source locator Airbnb — named portfolio entry / business description in X, AO Reviewed 2026-09-19
HotelTonighthotel booking	AirbnbOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Airbnb. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[X][AO] Source locator HotelTonight — named portfolio entry / business description in X, AO Reviewed 2026-09-19
Disney Cruise Linecruise	The Walt Disney CompanyOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Disney Signature Experiences. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[Y] Source locator Disney Cruise Line — named portfolio entry / business description in Y Reviewed 2026-09-19
Adventures by Disneytour operator	The Walt Disney CompanyOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Disney Signature Experiences. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[Y] Source locator Adventures by Disney — named portfolio entry / business description in Y Reviewed 2026-09-19
Disney Vacation Clubvacation club	The Walt Disney CompanyOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: Disney Signature Experiences. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[Y] Source locator Disney Vacation Club — named portfolio entry / business description in Y Reviewed 2026-09-19
On the Beachpackage operator	On the Beach GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: On the Beach Group subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[Z] Source locator On the Beach — named portfolio entry / business description in Z Reviewed 2026-09-19
Sunshine.co.ukpackage operator	On the Beach GroupOther: group brand / control Classification details Corporate brand/storefront controlled within the named group. The source identifies the portfolio relationship, not a separately disclosed equity percentage or every intermediate legal entity. Operating group: On the Beach Group subsidiaries. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[Z] Source locator Sunshine.co.uk — named portfolio entry / business description in Z Reviewed 2026-09-19
Vikingcruise	Viking HoldingsIndependent group Classification details Standalone reporting/operating group for this study, not a claim of dispersed share ownership or absence of controlling shareholders. Operating group: Viking Holdings. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[AA] Source locator Viking — named portfolio entry / business description in AA Reviewed 2026-09-19
Mein Schiffcruise	TUI / Royal Caribbean joint ventureJoint venture Classification details TUI Cruises is jointly controlled: 50% TUI and 50% Royal Caribbean. One separate cluster; neither parent receives these brands again. Operating group: TUI Cruises. Intermediate legal owner: not separately disclosed in the cited evidence. 50% each joint-venture partner.	[R][AB][AC] Source locator Mein Schiff — named portfolio entry / business description in R, AB, AC Reviewed 2026-09-19
Hapag-Lloyd Cruisescruise	TUI / Royal Caribbean joint ventureJoint venture Classification details TUI Cruises is jointly controlled: 50% TUI and 50% Royal Caribbean. One separate cluster; neither parent receives these brands again. Operating group: TUI Cruises. Intermediate legal owner: not separately disclosed in the cited evidence. 50% each joint-venture partner.	[R][AB][AC] Source locator Hapag-Lloyd Cruises — named portfolio entry / business description in R, AB, AC Reviewed 2026-09-19
Intrepid Traveltour operator	Intrepid TravelIndependent group Classification details Standalone reporting/operating group for this study, not a claim of dispersed share ownership or absence of controlling shareholders. Operating group: Intrepid Travel. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[AD][AE][AR] Source locator Intrepid Travel — named portfolio entry / business description in AD, AE, AR Reviewed 2026-09-19
Club Medresort brand	Fosun InternationalMajority controlled Classification details Fosun-controlled through Fosun Tourism Group; no exact current equity percentage asserted. Operating group: Fosun Tourism Group. Intermediate legal owner: not separately disclosed in the cited evidence. Equity percentage not asserted.	[AF][AG] Source locator Club Med — named portfolio entry / business description in AF, AG Reviewed 2026-09-19

13 / Primary evidence

Sources

Letters resolve to the original publisher. Filings and annual reports take priority; current corporate brand pages supplement them. A source date and our verification date are different things.

[A] DERTOUR Group · corporate
Corporate structure
Named German, Austrian, Nordic and UK brands; REWE group membership.
Verified 2026-09-19
[B] The Travel Corporation · corporate
Brands
Named TTC tour and cruise brands.
Verified 2026-09-19
[C] Apollo · investor
Apollo Funds to Acquire The Travel Corporation
Acquiring Apollo-managed funds; Red Carnation excluded.
Verified 2026-09-19
[D] The Travel Corporation · corporate
How We Tread Right — November 2024
Confirms acquisition by Apollo in 2024; read with C, not merely a pending transaction.
Verified 2026-09-19
[E] Expedia Group · corporate
Travel with us
Current consumer brand portfolio, including Expedia Cruises.
Verified 2026-09-19
[F] Carnival Corporation · corporate
Our portfolio
Eight current cruise brands; excludes discontinued P&O Australia.
Verified 2026-09-19
[G] Hyatt Hotels Corporation · regulatory
2025 Form 10-K
Trademark paragraph preceding Part I: selected resort brands belong to Hyatt Corporation or another wholly owned subsidiary. Brand ownership is not hotel-property ownership.
Verified 2026-09-19
[H] Travel + Leisure Co. · regulatory
2025 Form 10-K
Vacation ownership and exchange operations; Wyndham trademark license in Material Agreements.
Verified 2026-09-19
[I] Travel + Leisure Co. · corporate
Connect with us
Consumer operations including Shell, Extra Holidays, RCI, 7Across and Armed Forces Vacation Club.
Verified 2026-09-19
[J] Travel + Leisure Co. · corporate
Our brands
Club Wyndham, WorldMark and Travel + Leisure GO brand portfolio.
Verified 2026-09-19
[K] Flight Centre Travel Group · corporate
Brands
Flight Centre, Travel Associates and Scott Dunn leisure brands.
Verified 2026-09-19
[L] TUI Group · corporate
TUI UK&I shortlisted across 17 categories at the British Travel Awards 2026
TUI, First Choice and Marella holiday brands.
Verified 2026-09-19
[M] eDreams ODIGEO · corporate
Our brands
eDreams, Opodo, GO Voyages and Travellink; holiday/package offering, not only flights.
Verified 2026-09-19
[N] lastminute.com group · corporate
Our brands
lastminute.com, weg.de, Rumbo and Volagratis holiday storefronts.
Verified 2026-09-19
[O] Booking Holdings · investor
Investor overview
Booking.com, Priceline and Agoda within the group.
Verified 2026-09-19
[P] Trip.com Group · regulatory
2025 Form 20-F
Corporate structure and VIE arrangements: consolidation does not mean direct equity ownership of Chinese VIEs.
Verified 2026-09-19
[Q] Trip.com Group · investor
Investor overview
Trip.com, Ctrip and Qunar consumer portfolio.
Verified 2026-09-19
[R] Royal Caribbean Group · corporate
Our brands
Three wholly owned cruise brands; TUI Cruises joint venture operates Mein Schiff and Hapag-Lloyd Cruises.
Verified 2026-09-19
[S] Norwegian Cruise Line Holdings · corporate
Brands
Norwegian, Oceania and Regent brands. Current positioning: Oceania luxury; Regent ultra-luxury.
Verified 2026-09-19
[T] PONANT Explorations Group · corporate
PONANT Explorations Group
Artémis ownership and Ponant, Paul Gauguin, Aqua brands.
Verified 2026-09-19
[U] PONANT Explorations Group · corporate
PONANT Explorations Group Acquires Majority Share of Aqua Expeditions
January 2025 majority acquisition; founder retains a stake; percentage not disclosed.
Verified 2026-09-19
[V] Viator · corporate
How Tripadvisor and Viator work together to grow your business
Viator is a Tripadvisor company; distribution includes Expedia and Booking.com.
Verified 2026-09-19
[W] Explora Journeys · corporate
MSC Group
MSC Cruises and Explora Journeys under privately held MSC Group.
Verified 2026-09-19
[X] Airbnb · corporate
HotelTonight and Airbnb finalize acquisition
Completed acquisition; HotelTonight retains separate consumer storefront.
Verified 2026-09-19
[Y] Disney Experiences · corporate
Experiences
Disney Signature Experiences: cruise line, vacation club and Adventures by Disney.
Verified 2026-09-19
[Z] On the Beach Group · annual-report
Final results 2025
On the Beach and Sunshine operations; Classic Collection ceased September 2025.
Verified 2026-09-19
[AA] Viking Holdings · regulatory
2025 Form 20-F
Viking cruise operation; ocean, river and expedition not counted as separate brands.
Verified 2026-09-19
[AB] Royal Caribbean Group · corporate
About us
50% interest in TUI Cruises; joint control, not a wholly owned brand.
Verified 2026-09-19
[AC] TUI Group · annual-report
Annual Report 2025 — Business review
Marella and TUI Cruises operating structure; corroborates separate JV cluster.
Verified 2026-09-19
[AD] Intrepid Travel · annual-report
Annual report
Independent private travel group; founder, employee and minority investor ownership, not a listed conglomerate subsidiary.
Verified 2026-09-19
[AE] Intrepid Travel · corporate
Intrepid records best-ever business results
Founder-owned business with employee shareholders; no claim that founders own 100%.
Verified 2026-09-19
[AF] Fosun Tourism Group · corporate
About us
Fosun Tourism owns Club Med; Fosun International controlling shareholder. No precise stake asserted.
Verified 2026-09-19
[AG] Fosun · corporate
Happiness
Current 2025 business overview confirms Club Med in Fosun tourism operations.
Verified 2026-09-19
[AH] WebBeds · corporate
WebBeds and On the Beach Announce Strategic Partnership to Expand Travel Distribution
February 2026 accommodation distribution agreement. URL slug says Jet2; actual article title and body say On the Beach.
Verified 2026-09-19
[AI] TUI Group · corporate
TUI ab sofort Partner für Touren & Aktivitäten bei lastminute.com und weg.de
TUI Musement experiences supplied to lastminute.com and weg.de; not ownership.
Verified 2026-09-19
[AJ] Club Wyndham · official-help
Getting more with RCI
RCI exchange access for eligible Club Wyndham owners; terms and availability apply.
Verified 2026-09-19
[AK] Travorium · official-legal
Membership Agreement
Fulfillment definition names Leisure Loyalty for reservation and technology services. Version 1.0, effective 2026-05-02; public English document API checked directly. Membership definitions also establish plan access, monthly dues and payment-earned Travel Points; these definitions support the consumer comparison.
Verified 2026-09-19
[AL] Travorium · official-help
How do I use my Travel Points on the Getaways?
Dreamcations navigation and eligible Getaway point application.
Verified 2026-09-19
[AM] Travorium · official-help
What are the World Tours terms and conditions?
Current World Tour conditions; consult before booking.
Verified 2026-09-19
[AN] Hyatt · corporate
Our brands
Current brand roster corroborates 2025 trademark ownership filing.
Verified 2026-09-19
[AO] Airbnb · corporate
HotelTonight news
Continuing HotelTonight/Airbnb consumer integration after acquisition.
Verified 2026-09-19
[AP] Travorium · official-help
What are the terms concerning the Travel Points?
Dreamcations-only use, no cash redemption or transfer to another account, 24-month expiry.
Verified 2026-09-19
[AQ] Viator · corporate
Travel Advisor Guide: 11 Multi-Day Tours for Adventure Travel Seekers
Multi-day tour marketplace qualification, beyond single-day activities.
Verified 2026-09-19
[AR] Intrepid Travel · corporate
Intrepid's new strategic partnership
Genairgy minority stake; founders retain majority. Read with current annual-report and company evidence.
Verified 2026-09-19
[AS] DERTOUR · corporate
DERTOUR – dein Urlaubspartner
Zum Unternehmen: DERTOUR Group is a 100-percent subsidiary of REWE Group. Read with A for the selected brand portfolio.
Verified 2026-09-19
[AT] Royal Caribbean Group · corporate
Current corporate brand positioning
Current homepage: Royal Caribbean International contemporary/family; Celebrity premium; Silversea luxury/expedition.
Verified 2026-09-19
[AU] Costsaver · corporate
Budget tours and vacation packages
US homepage H1 explicitly positions tours as budget.
Verified 2026-09-19
[AV] Insight Vacations · corporate
About us: premium tours
Official premium guided-tour positioning.
Verified 2026-09-19
[AW] Luxury Gold · corporate
Luxury guided tours
Official luxury guided-tour positioning.
Verified 2026-09-19
[AX] Scott Dunn · corporate
Luxury travel company
Official luxury vacation positioning.
Verified 2026-09-19
[AY] Seabourn · corporate
Luxury cruises
Official luxury cruise positioning; regional landing page.
Verified 2026-09-19
[AZ] Explora Journeys · corporate
Luxury cruises
Official luxury ocean-journey positioning.
Verified 2026-09-19
[BA] Carrier · corporate
Carrier Luxury Holidays
Official site title identifies luxury holidays.
Verified 2026-09-19
[BB] Uniworld · corporate
All-inclusive luxury river cruising
You Deserve The Best section identifies luxury river cruising.
Verified 2026-09-19
[BC] Aqua Expeditions · corporate
Luxury river, ocean and island cruises
Official luxury small-ship positioning.
Verified 2026-09-19
[BD] Booking.com · official-help
Genius benefits and levels
Free enrollment; eligible member pricing; selected-stay breakfast and upgrades at Levels 2/3; priority support at Level 3.
Verified 2026-09-19
[BE] Expedia Group · official-legal
Rewards terms, effective July 28 2026
US participating brands, eligible OneKeyCash earning/redemption, Member Prices and brand/region-specific rules. Sections 1–9 and 18–21.
Verified 2026-09-19
[BF] Hyatt · official-help
World of Hyatt tiers and benefits
Free base membership, eligible points/rates/awards; tier-qualified upgrades, late checkout and Globalist breakfast/lounge, subject to property exclusions.
Verified 2026-09-19
[BG] Hyatt · corporate
Inclusive Collection in World of Hyatt
Named Inclusive Collection brands within World of Hyatt. Participation and eligible booking rules still apply.
Verified 2026-09-19
[BH] Costsaver · official-help
Global Tour Rewards
Past-traveler member pricing and cross-brand recognition; named Costsaver, Insight, Trafalgar, Brendan and Contiki. US page. Sixth brand not inferred from headline.
Verified 2026-09-19
[BI] Royal Caribbean · official-help
Crown & Anchor Society
Free enrollment, tier-qualified member offers and priority benefits; cruise points build status; Points Choice rules and request deadline.
Verified 2026-09-19
[BJ] Royal Caribbean · official-help
Loyalty Status Match qualification
Royal Caribbean, Celebrity and Silversea tier matching requires age 18+ and enrollment in each program.
Verified 2026-09-19
[BK] Royal Caribbean Group · corporate
Points Choice loyalty enhancement
Sailings from January 30 2026: choose the receiving program for earned cruise points; distinct programs continue.
Verified 2026-09-19
[BL] Travorium · official-help
Legacy Travel Site Loyalty Points
Eligible Legacy booking earn/use and 12-month validity; distinct from Travel Points.
Verified 2026-09-19

14 / Keep investigating

Where to go next

Travel & Direct-Selling Industry →Demographics & Market Opportunity →How the Business Model Works →Compare Travel & Lifestyle Companies →Explore Travel Membership →Explore the Partner Opportunity →

What we studied: 100 vacation brands

One brand, one record

Follow control

Keep the layers separate

The Ownership Galaxy

DERTOUR / REWE12

Apollo-managed funds / TTC11

Expedia Group9

Carnival Corporation8

Hyatt Hotels Corporation8

Travel + Leisure Co.8

eDreams ODIGEO4

lastminute.com group4

Artémis / PONANT3

Booking Holdings3

Flight Centre Travel Group3

Norwegian Cruise Line Holdings3

Royal Caribbean Group3

The Walt Disney Company3

Trip.com Group3

TUI Group3

Airbnb2

MSC Group2

On the Beach Group2

TUI / Royal Caribbean joint venture2

Fosun International1

Intrepid Travel1

Tripadvisor Group1

Viking Holdings1

Many storefronts. Fewer control groups.

Top 3 clusters

Top 5 clusters

Top 10 clusters

Why keep multiple brands?

Cruise ownership, in focus

Apollo-managed funds / TTC (1)

Carnival Corporation (8)

Artémis / PONANT (3)

Norwegian Cruise Line Holdings (3)

Royal Caribbean Group (3)

The Walt Disney Company (1)

TUI Group (1)

MSC Group (2)

TUI / Royal Caribbean joint venture (2)

Viking Holdings (1)

Different brands. Different price positions.

Costsaver · Value / budget

Royal Caribbean International · Mainstream

Celebrity Cruises · Premium

Insight Vacations · Premium

Silversea · Luxury / ultra-luxury

Oceania Cruises · Luxury / ultra-luxury

Regent Seven Seas Cruises · Luxury / ultra-luxury

Luxury Gold · Luxury / ultra-luxury

Scott Dunn · Luxury / ultra-luxury

Seabourn · Luxury / ultra-luxury

Explora Journeys · Luxury / ultra-luxury

Carrier · Luxury / ultra-luxury

Uniworld · Luxury / ultra-luxury

Aqua Expeditions · Luxury / ultra-luxury

Compare the same trip

Compare the total

Keep the membership layer separate

Brand ≠ Owner ≠ Inventory Source

Behind the Booking: Who Powers the Marketplace?

Membership travel exists elsewhere too

What does staying loyal actually unlock?

Booking.com Genius

One Key / US rewards

World of Hyatt

Global Tour Rewards

Crown & Anchor Society

Travorium membership

Does loyalty travel between sister brands?

Evaluate loyalty against your own travel

Where Does Travorium Fit?

What changes

What does not follow

Travel Points, Getaways and World Tours

Broader travel ecosystem