Flight Centre Travel Group-owned travel management company FCM Travel Solutions claimed record account wins for its fiscal year ending June 30, and the TMC plans to "grow faster than the market" by taking accounts from competitors, said Chris Galanty, CEO of Flight Centre's corporate division.
Capital One this month acquired mobile flight disruption management and rebooking technology provider Freebird, according to a LinkedIn post from Freebird co-founder and CEO Ethan Bernstein.
A former Travelport employee in the United Arab Emirates last month filed a U.S. federal antitrust lawsuit alleging her former employer engaged in a scheme with Sabre and EmQuest to fix prices on global distribution system incentives paid to travel agencies.
Australia-based global travel management company Corporate Travel Management claims to have pulled out of business travel's Covid-induced nosedive and said its fortunes are back to pointing skyward. "Our booking activity is higher than we thought," managing director Jamie Pherous told an investor call for his company's annual results on Wednesday. "All regions are trading up since the bottom in late April, and some are materially higher."
Singapore Airlines in January 2021 will start levying a U.S.$12 per-ticket surcharge on "traditional" global distribution system bookings made through legacy EDIFACT connections, the carrier notified travel agencies this summer. Yet, the airline has included each of the three major GDS operators on a list of certified tech providers through which agencies can access additional content and have its surcharge waived when tapping New Distribution Capability-based API connections.
Cash is scarce for travel agency operators. The valuation of a travel management company is virtually impossible to determine these days. The multiples that buyers would pay to acquire agencies peaked just before the pandemic struck. Those are a few observations on agency mergers and acquisitions that Innovative Travel Acquisitions president and CEO Bob Sweeney shared this week.
ABC Global Services and CCRA International may be best recognized as two of the largest in a handful of hotel consortia competitors relevant to the corporate travel sector. Yet, their merger, in design since before Covid-19's onslaught, is more complementary than first glance would suggest, the companies' CEOs said.
Sabre's global distribution system business saw airline cancellations outpace new bookings for the three months ending June 30, dragging net bookings, and therefore GDS revenue, into negative territory.
SAP Concur is upgrading its hotel connections with BCD Travel, CWT and HRS to give clients of their respective hotel aggregation programs the option to single-source hotel content and tap a wider range of their lodging-related services through Concur Travel.
Flight Centre Travel Group on Tuesday announced it has acquired corporate travel booking system WhereTo, the latest in a string of strategic investments.