Unveiling the Truth: Who Really Owns Overseas Adventure Travel?
Have you ever wondered who actually owns your favorite travel brand? Is it the charming local guide who took you to that hidden gem or maybe the CEO of the company who implemented flawless logistics and made your trip unforgettable? In this article, we’ll take a closer look at Overseas Adventure Travel (OAT) and unveil the truth about its ownership.
The History of OAT
OAT is a travel company that specializes in small-group adventures for travelers aged 50 and older. The company was founded in 1978 by Judi Wineland and Alan E. Lewis, who were passionate about offering authentic experiences to travelers who wanted to connect with local cultures. OAT gained popularity over the years and was acquired by Grand Circle Corporation in 1993. Since then, OAT has been operating as a subsidiary of Grand Circle and has expanded its reach to more than 100 countries.
The Ownership Structure of Grand Circle
So, who owns Grand Circle and, by extension, OAT? The answer is Bruce J. Epstein. Epstein is the founder and chairman of Grand Circle Corporation, with his wife, Harriet Lewis, serving as the CEO. Epstein and Lewis started the company in 1958 as a travel agency in Boston and gradually expanded it to include various travel brands, with OAT being one of them. Currently, Grand Circle Corporation is privately held, with Epstein and Lewis being the main shareholders.
What Does it Mean for OAT?
What does the ownership of OAT by Grand Circle Corporation and its main stakeholders mean for the company and its customers? As a privately held company, Grand Circle has more flexibility and control over its operations and can make long-term strategic decisions without being affected by public shareholders’ interests. This enables the company to focus on providing quality experiences to its travelers without being pressured to maximize profits in the short term.
Moreover, Grand Circle places a strong emphasis on sustainable tourism and philanthropy, with the company’s charitable arm, Grand Circle Foundation, donating millions of dollars to various causes worldwide. This approach aligns with OAT’s philosophy of responsible travel and creates a positive impact on the local communities and the environment.
Conclusion
In conclusion, Overseas Adventure Travel is owned by Grand Circle Corporation, a privately held company founded by Bruce J. Epstein and Harriet Lewis. The ownership structure provides the company with flexibility and control over its operations, allowing it to prioritize sustainable tourism and philanthropy. As a traveler, understanding the ownership structure of your favorite travel brands can give you insights into their values and priorities, allowing you to make informed choices when planning your next adventure.
(Note: Do you have knowledge or insights to share? Unlock new opportunities and expand your reach by joining our authors team. Click Registration to join us and share your expertise with our readers.)
Speech tips:
Please note that any statements involving politics will not be approved.