Tollman family sells TTC, retains Red Carnation hotels

On November 2, 2026, Skift Feed reported that the 104-year-old Tollman family has sold its The Travel Corporation (TTC) to Apollo, with the family retaining the luxury hotel brand Red Carnation. The report, citing credit rating reports, UK filing documents and interviews with several former executives and consultants, said the profitable travel business had long been underfunded, while Red Carnation is loss-making and relied on TTC for funding support on favorable terms. The report linked the sale to the financial difficulties behind the Tollman family. The transaction has now been completed, and Red Carnation remains owned by the family.