It’s normal in any year for a handful or two of enormous accounts to reach the expiration of their travel management company contracts and conduct solicitations. What’s abnormal is for more than a couple to switch providers. Several big names already moved this year, with more likely to follow. It’s happening downmarket, too. Among the…
Travel management company owners who sell their companies in the near future will be fortunate to get half of what they could have earned pre-Covid, according to experts in consolidation speaking last week during a Teleconference call. While the extent to which clients stick around could be a bigger determinant than in the past on…
Tickets issued by corporate travel agencies last week were down 85.7 percent year over year. It was a slight improvement on the week before, continuing a modest trend. Speaking last week during a Teleconference call, ARC president and CEO Mike Premo shared his “marketing spin” that corporate travel grew by more than 50 percent during…
Analysts at S&P Global Ratings do not expect travel management companies to re-establish pre-pandemic earnings until 2023. The credit rating agency made the note in a review last month of $400 million in new financing obtained by American Express Global Business Travel, which GBT CEO Paul Abbott addressed during a Monday interview. “TMCs are affected…
Australia-based Corporate Travel Management is buying Travel and Transport of Omaha, Neb., for roughly $200 million in cash and stock. Much of Travel and Transport’s senior executive team will run CTM North America after the deal closes, which is expected in the next 30 days or so following customary regulatory review. During an exclusive phone…
A “face-to-face” community continues to make do with virtual events for sharing insight. Among the freshest commentary, SAP Concur’s Travel Industry Summit on Thursday delivered knowledge about the status and resumption of business travel and uncovering “invisible” spend. Immigration experts during a Newland Chase webinar the day before offered thoughts on issues facing “digital nomads.”…
Like all travel management companies, CWT has had a grueling year. It’s expecting more of the same until there’s a vaccine or an appreciable return to the office. This makes strategic planning challenging. Complicating matters is that not many corporate clients are good at predicting what they need during “normal” times. How do you ready…
End of content
End of content
