Client wins inspired by early global leadership in New Distribution Capability will help Hogg Robinson Group reverse long-term revenue declines in the coming months, CEO David Radcliffe claimed during the group’s half-year results presentation last week.
American Express Global Business Travel expects to complete its acquisition of Hogg Robinson Group on July 19 after European Union regulators cleared the deal on Friday.
During Hogg Robinson Group's half-year conference call for investors today, chief executive David Radcliffe identified a "major opportunity out there at the moment," and that is HRG's role in distribution.
Two of the world’s largest travel management companies are set to merge after American Express Global Business Travel offered up to £410 million to buy Hogg Robinson Group.
Girding for a shakeup in the way major airlines distribute content to the corporate market, travel management company HRG is advancing efforts to facilitate direct connections between airlines and corporate clients.
Almost three years after chief executive David Radcliffe first revealed his company's intentions to The Beat in May 2012, Hogg Robinson Group has split its operations into two separately branded entities. HRG is the group's travel management company, aimed primarily at multinational corporations. Meanwhile, expense management division Spendvision has expanded and rebranded as Fraedom, a software-as-a-service provider.
Two of the world’s largest travel management companies have become one. American Express Global Business Travel Thursday completed its 410 million British pound takeover of Hogg Robinson Group to create a TMC that handles a combined $36 billion in annual transaction value. The mega of all megas now has mega integration work ahead.
Hogg Robinson Group reported a year-over-year decline in revenue for its fiscal year ending March 31, but it reduced debt, increased cash on hand and grew profits on leaner operations. The brightest spot came from its Fraedom software-as-a-service business, which posted solid results but represents a small portion of overall revenue.
A notable boating enthusiast, David Radcliffe chose a nautical metaphor on Wednesday to analyze the financial performance of Hogg Robinson Group, the ship he captains as CEO. With underlying operating profit for the six months to Sept. 30 unchanged at £22.7 million (US$36.6 million) from the same period in 2012, and revenue down slightly versus a year earlier—and also lower than the two previous comparable periods—to £168.4 million (US$271.7 million), one might be tempted to portray HRG as becalmed.
Worldwide bookings handled by United Kingdom-based Hogg Robinson Group rose 2 percent year over year for the six months ending Sept. 30, yet client travel spend fell 2 percent, according to half-year financial results released Wednesday.