Last month's disclosure that Corporate Travel Management is in talks to buy Capita Travel and Events demonstrated yet again that the U.K. travel management company sector is hurtling through a period of intensive consolidation and ownership change.
Historically, the cash incentives paid by global distribution system operators to travel agencies have risen at a slow but steady year-over-year clip. For 2018, though, all signs point to a greater-than-average acceleration in incentive payments, according to GDS financial data, executive commentary and industry observers.
At The Beat Live this month, EAB VP of business solutions Steven Mandelbaum sat down with his fellow corporate travel buyers for the annual Buyers' Table session. Anthem's Cindy Heston, FINRA's Carol McDowell, Evercore's Jason Ring and KBB Partners' Mira Rosenzweig joined for a lively discussion on travel management company relationships, exploring new booking technologies and testing the waters with startups.
Travel and Transport has acquired 100 percent ownership in travel agency network Radius Travel, of which it was a founding member, a longtime equity holder and an active participant, the company announced Monday. Financial terms were not disclosed.
The number of ARC-accredited travel agencies fell nearly 4 percent from 7,162 in February 2016 to 6,905 last month, according to ARC data.
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.
Sabre will sunset Prism Group's Avion travel management software product at the end of the year.
Total bookings processed via the Sabre global distribution system rose nearly 8 percent year over year during the third quarter to 140 million, the company reported Tuesday. Air bookings rose 8 percent to 123 million, while non-air bookings, including lodging and ground, rose 7 percent to 17 million.