American Express Global Business Travel, BCD Travel and other large travel management companies banded together and engaged Monument Advocacy, a Washington lobby group. They want their voices heard and concerns aired as the government crafts rescue packages for businesses laid low by the pandemic. New projections put the travel industry’s recovery timeline at 12 months…
Coupa execs on Monday confirmed it bought Yapta for about $100 million, but said the new property would underperform relative to original expectations. Wex acquired fellow payments firm eNett at what one analyst called a “steep” multiple. Recent acquisition activity is far from the only thing that looks upside-down in the new environment. Forecasting is…
[UPDATE, March 19, 2020: In a survey this week, ic4p’s results were quite different. Ninety-six percent of 518 HR respondents said the coronavirus had impacted productivity to some degree, up from 64 percent two weeks ago, and the percentage saying the impact has been “high” or “very high” rose to 41 percent from 9 percent….
Trial testimony by CWT president and CEO Kurt Ekert proved instructive for anyone looking to understand travel management company dependence on global distribution systems. There was no elephant in the courtroom on the payments GDS firms make to TMCs. Ekert acknowledged that in 2018, GDS companies paid CWT incentives totaling roughly $155 million, about 10…
It’s not unusual to hear travel management company executives talk about their small profit margins, but their margins are average to above average compared with like industries. TMC profits are, however, sensitive to plenty of external factors the companies cannot control. They remain partly lashed to an industry (airlines) that until recently couldn’t post consistent…
Travel and Transport last week acquired language translation and Wi-Fi calling app maker TripLingo. They did not disclose terms. TripLingo founder Jesse Maddox will join the Omaha, Neb.-based travel management company, which will run TripLingo as a wholly owned subsidiary. Maddox during a Friday interview said the company’s pre-existing relationship with Travel and Transport was…
Omaha, Neb. – With the passing of Bill Tech last week, Travel and Transport lost more than a chairman and former executive — we lost a dearly loved member of our company’s family. With his outsized personality and love of others, it was impossible to know Bill for more than five minutes and not want…
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