Australia-based Corporate Travel Management by the end of the year plans to launch its full suite of client-facing technologies in the U.S., including its online booking system, managing director Jamie Pherous said during the travel management company's fiscal-year earnings call Wednesday.
Ten years ago, HRG launched a North American affiliate program with a handful of U.S.-based travel management companies and a goal to add as many as a dozen members. Since then, the program has lost virtually all its U.S. affiliates and, according to former stakeholders, has been withering on the vine for years.
Corporate Travel Management made its last U.S. acquisition more than a year ago when it picked up Boston-area travel management company Travizon. That was on the heels of its purchase of California-based Montrose Travel. While the Australian company is busy integrating those U.S. buys, CTM's appetite for acquisitions in North America and other markets is hardly sated, CTM managing director Jamie Pherous said this week.
It's going on two years since Australia's Corporate Travel Management made an acquisition in the U.S. and more than a year since it bought an agency anywhere. That may not sound like a long time, but for CTM, which has acquired around a dozen travel agencies since publicly listing on the Australian Securities Exchange in late 2010, it feels like an eternity.
Corporate Travel Management announced a deal to acquire Massachusetts-based travel management company Travizon Travel for a base consideration of $21 million.
After a slow first half of its fiscal year in the United States, Australia-based travel management company Corporate Travel Management got a boost from its Montrose Travel acquisition, client wins and a stabilization after spending declines from energy clients.
Australia-based Corporate Travel Management announced plans to acquire U.K.-based Redfern Travel and Tasmania-based Andrew Jones Travel. In conjunction, the publicly traded travel management company issued a new share purchase option to eligible shareholders to raise A$71 million to fund the deals.
Yapta, which has built its business on securing post-booking airfare savings for corporations, has now deployed its companion tool for hotel rates.
Massachusetts-based travel management company Travizon has rewritten its proprietary data reporting tool and expects by September to release its own itinerary system. The company also has added a second source of flight information for better coverage.
Boston-area travel management company Travizon has ended its participation in the HRG Affiliates program after two years and joined the GlobalStar Travel Management network.