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Lovell predicts more consolidation
GTMC Conference Special: Guild of Travel Management Companies chairman Richard Lovell has predicted smaller members will be swallowed up in a fresh wave of consolidation.
He told Travelmole at its annual conference the GTMC could lose between five and 10 travel management companies in the next couple of years although the market share of its members will continue to grow.
“About 10 years ago we had 50 members, there are now 35,” Lovell said. “In two years I can see that dropping to 25 or 30.
Consolidation will continue.”
He added that the role of the Guild has changed in recent times from a “vague” pledge to increase the business of its partners to an organisation which now provides accessibility and consultation with the industry.
Report by Steve Jones
Ginny McGrath
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