United Kingdom
United States
Asia Pacific
Carlson to take full ownership of Carlson Wagonlit Travel
Carlson said it will take full ownership of corporate travel agency Carlson Wagonlit Travel, following last month’s announcement of its intention to offload TGI Fridays.
Carlson will use some proceeds from the TGI Fridays sale to acquire JPMorgan Chase’s remaining 45% stake of CWT.
The sale of TGI Friday’s is expected to raise in the region of $800 million.
Carlson CEO Trudy Rautio said the company will still have additional capital to invest in its hotel business.
"CWT is a solid brand, it is global and it’s growing, and his solidifies our presence in the travel management marketplace," Rautio said.
Carlson expects both transactions to be completed by the end of July.
In 2013 CWT, which operates in over 150 countries, generated revenues of $26.9 billion.
Carlson Wagonlit Travel was formed 20 years ago with the partnership of Carlson Travel Network and Wagons-Lits, then owned by French hotel group Accor.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Woman dies after going overboard in English Channel