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Carlson Wagonlit Travel sales up 45% in first half
Business travel giant Carlson Wagonlit Travel saw sales rise 45% year-on-year in the first half of 2007 to more than $11 billion.
New sales through August exceed $2.2 billion, excluding renewals, up 69% over the same period last year, the travel management company said.
UK volume in the first six months of the year was up by 33%.
The greatest increase was in the US at 104%, helped by the acquisition of Navigant International in August 2006. Growth was also seen in Australia (86%), India (31%), Russia (29%) and China (25%).
Nearly 40% of new business gained came from large global companies consolidating their travel programmes for greater savings and more effective travel management, according to CWT. These include: Bayer, Continental, John Deere and Terex, as well as an unnamed Fortune 15 company that consolidated its business travel worldwide with CWT.
The remaining new business came from small and mid-size domestic companies, as well as government institutions such as the U.S. Department of Justice and HM Revenue & Customs in the UK.
CWT became the majority shareholder of its Indian joint venture in July when its ownership stake increased from 50% to 76%. Acquiring Massachusetts-based Preferred Travel in August represented another “milestone” in the company’s US growth, CWT said.
Company president and CEO Hubert Joly said: “The growth of CWT in the first part of this year is the result of three factors: solid industry fundamentals, including a strong world economy and its increasing globalisation, the positive effects of the acquisition and successful integration of Navigant, and the success of our strategy focused on delivering the value of effective travel management to corporate clients and government institutions around the world.”
by Phil Davies
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