Craig Fichtelberg is president and co-founder of AmTrav, a travel management company that has not participated in the latest cycle of acquisitions. He knows you’ll take his comments with a grain of salt. Consolidation among travel management companies has accelerated. Employees and customers are the most critical components in every acquisition. They’re also vulnerable and…
CWT’s lenders agreed to delay the company’s June interest obligations amid discussions about “the best possible financial plan for CWT,” according to a company spokesperson. CWT skipped a June 15 interest payment, as first reported the next day by Bloomberg. That kicked off a 30-day grace period before default. Unnamed sources told the outlet that “forbearance…
Adaptable travel companies kept up with planning and process improvement throughout the pandemic. According to Danny Eldridge, CEO of software integration firm ServeVita, they’re the ones best positioned for travel recovery. For the others, it’s not too late to assess resources and develop strategies to emerge better. He’s got questions for those in both camps….
In its move to two travel management companies and one global distribution system, $67 billion multinational manufacturing conglomerate Siemens focused on the traveler experience. Some corporations that establish agreements with GDS providers do so for economic reasons. “Incentives were clearly not the driver in this change,” according to an email this week from Siemens head…
Deteriorated or insufficient travel services will be a reality for some as volumes recover. Demanding corporate travelers and their managers, generally satisfied with their service providers’ efforts during the pandemic, will start to lose patience. Areka Consulting’s Louise Miller suggests proactively and thoroughly communicating with travelers, understanding travel management company staffing and information sharing capabilities,…
Corporate travel professionals are concerned that the apparatus of international travel won’t be ready for an expected uptick in businesspeople wanting to cross borders in the coming months. Processes for documenting inoculation and negative tests remain works in progress, while international transit rules are tremendously complicated and often change with little notice. Corporate travel buyers…
Festive Road’s Paul Tilstone interprets recent survey results about corporate clients’ relationships with travel management companies suggesting that even in the face of current market pressures, TMCs need to stay on their toes and grow investment in servicing and content. In 2017, we surveyed the sector on the TMC sourcing process and discovered there was…
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