Mexico-based hospitality management group Islander Collection has acquired five archaeological villas formerly owned and operated by Club Med. The properties, soon to be added to the Islander Collection, are all located near archaeological sites.

British Airways and Texas-based TPG officially have lost interest in taking over operations of Spanish carrier Iberia. In a letter to Iberia's board, British Airways explained that recent moves by Iberia's core shareholders negated the “consensus and friendly terms that we considered essential for this project.”

Australian travel agency group Flight Centre Limited has agreed to acquire Liberty Travel for $135 million. The acquisition, subject to regulatory approvals and closing conditions, is expected to be completed in January and will be Flight Center’s largest acquisition to date.

Travelocity has launched a new mobile service that allows travelers to access travel information from anywhere using a cell phone or other web-enabled mobile device.

Florida Gov. Charlie Crist wrapped up his first South American trade mission during the weekend, a week-long journey in which he led a delegation of nearly 200 of the state’s civic and business leaders to Brazil, Argentina and Chile.

Kuoni Reisen Holding AG, the largest Swiss travel company, said third-quarter profit rose 22 percent after acquisitions of tour operators fueled sales growth.