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Global travel management shake-up
Fresh consolidation in the global business travel sector has seen Carlson Wagonlit Travel plan a tie-up with the US arm of Maritz. CWT revealed that it had agreed to purchase Maritz’s US corporate travel subsidiary MCT, which has operated under the TQ3 Travel Solutions banner for three years. The move follows hard on the heels of US travel management giant Navigant International taking a 50% stake in TQ3 Travel Solutions, becoming an equal shareholder in the business travel arm of German travel group TUI. CWT claimed its deal with Maritz further strengthened the organisation’s position as the second largest travel management company in the world and the largest wholly-owned corporate travel network. CWT handles clients in 140 countries with a combined annual air volume of $10.5 billion. MCT handles business worth $1 billion in air volume in the US. The deal excludes Maritz’s meeting, event and incentive group travel business. Meanwhile, TQ3 will be branded TQ3Navigant in the US and Canada as part of the alliance with TUI. The new company created through the tie-up claims total revenues of more than $11 billion, with a combined staff of 12,700 worldwide. Navigant claims 13,000 clients in North America, with $4 billion annual airline ticket sales. TQ3 president and chief executive Marc Hildebrand said: “With globalisation firmly in mind, this move will further bolster our strong international presence.” Navigant chairman and chief executive Edward Adams added: “There is significant growth potential in the worldwide travel management market which can be tapped through an integrated approach with TQ3 Travel Solutions.” Report by Phil Davies
Phil Davies
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