A U.S. district court in New York dismissed all remaining claims this month in the dispute between hotel commission recovery specialists and one-time partners eCommission Solutions and CTS Systems.
Travelport on Friday flagged that its deal to be acquired by a private equity partnership is being slowed by a review from Russian competition authorities. The company still expects the deal to close in the first half of 2019.
Global distribution system segments processed by Travelport—including air, hotel, car and rail—fell 4 percent year over year during the third quarter amid "customer headwinds," the company reported Thursday.
In the run-up to Travelport's agreement last month to go private with Siris Capital Group and Evergreen Coast Capital, 10 different "financial sponsors" and five "strategic parties" emerged as potential suitors for the global distribution system operator or its assets.
Executive Travel CEO Steve Glenn has set his sights on "zero/zero," as in $0 in fees for online bookings and $0 for offline bookings. He thinks he's found the path, and it involves a financial model tied to client revenue performance, blockchain-based smart contracting and data access that gives transparency to each side.
Onyx CenterSource in the coming months plans to migrate eCommission Solutions agency clients to its RecoverPro commission reconciliation and recovery system, following this month's acquisition of ECS. "Over time," Onyx will sunset the ECS reconciliation and commission recovery system, Onyx president and CEO Mark Dubrow said in an interview.
In what is likely to be its final publicly filed earnings statement before it goes private, Travelport reported a 4 percent year-over-year decline in worldwide global distribution system segments and a modest rise in net revenue and earnings for the three months ending Dec. 31, 2018.
The past few months have brought several twists and turns to the ongoing legal dispute between estranged hotel commission recovery partners CTS Systems and eCommission Solutions. Among them: A federal court dismissed ECS's first amended complaint against CTS, prompting ECS to re-file claims; ECS settled a related Texas state lawsuit with Dell Marketing; and now, CTS plans to sue partner Dell, for which CTS was a subcontractor, to shift blame in the federal case.
Through an initial coin offering that kicks off Thursday, blockchain-based distribution startup Winding Tree hopes to raise $10 million to develop a decentralized and open platform for transacting air, hotel and other travel components.
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.