Travel Leaders Group Lays Groundwork For A Public Offering

Travel Leaders Group in March announced new jobs for two executives whose expertise befit a company prepping to go public. Sources familiar with the firm's plans said the process could start this year.

The company tasked Steve DeLorenzo with overseeing its investment in upgraded financial systems. After joining Travel Leaders as CFO in 2017, DeLorenzo is now chief transformation officer. The other exec, now CFO, is Steve Bishop. According to his LinkedIn profile, Bishop advises "private equity-owned companies in transition [such as] pre-IPO.”

Asked about any plans for a public offering, a . . .

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Author: Jay Campbell

Jay Campbell in 2004 created travel business newsletter The Beat, in 2006 co-founded Travel Procurement magazine and in 2010 integrated them with Business Travel News. He served as editorial director until 2013. Jay made his travel industry media debut in 1993 at the Air Travel Journal of Boston while earning his undergraduate degree in journalism at Boston University.

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Craig Fichtelberg
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Craig Fichtelberg

Chacko says, “We have all built our business processes around the GDSs – our mid office, back office, our agent front ends …” This is really the heart of the problem today in business travel. The dependency on the GDS, not only for content, but for quality control, travel policy, reporting, duty of care, accounting, etc… Regardless of where the booking is made (i.e. direct connect, NDC, online… ) for the TMC to do anything with the booking it needs to get back into the GDS. Not only does this add manual steps but it stifles third party innovation. These… Read more »