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CWT lifts half year revenue by 30%
Carlson Wagonlit Travel saw revenues rise in the first half of the year by 30% to $606 million.
This was based on record new sales of $849 million in the six month period, a rise of 20% year-on-year.
CWT said it was achieving “robust transaction growth rates” in all regions of the world, ranging from nine to 17%.
The figures emerged from a mid-year business review by the global travel management company.
CWT attributed the rise in revenue to “a favourable market, the successful integration of recent acquisitions, excellent client retention and strong new sales”.
During the six months to company has integrated new acquisitions Maritz Corporate Travel and Protravel and seen a rapid rise in online bookings, with levels doubling in Europe. Forty five per cent of transactions in the US commercial market are now online, a rise from 36% a year ago, the company said.
CWT added that hotel bookings were growing at double digit rates.
New account wins in the period included Fujitsu in Canada, BASF in Asia-Pacific, Barilla in Italy and Myllykoski Corporation in Europe and the US.
Company president and CEO Hubert Holy said: “At the mid-year point we are pleased to see strong momentum in our performance as well as in each of of key business strategies.
“In addition to significant client wins, we lead the trend in online booking and are seeing a continued rise in our hotel bookings.”
Report by Phil Davies
Phil Davies
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