TQ3 TRAVEL SOLUTIONS and NAVIGANT INTERNATIONAL ANNOUNCE NEW ALLIANCE
17 March 2004, Bremen, Germany and Denver, Colorado – TQ3 Travel Solutions (TUI Business Travel Deutschland GmbH) today announced it will enter into an agreement with Navigant International, the second largest travel management company in North America. Navigant has purchased 50% shareholding in TQ3 Travel Solutions GmbH, the global joint venture company, thereby becoming an equal shareholder with TUI in TQ3 and becomes the new partner in the United States and Canada. The move represents significant development in the evolution of the two organisations. Globally, the company will continue to operate in the same marketing vein and under the well-established TQ3 Travel Solutions brand. In the US and Canada, the company will have the same corporate identity and will be branded TQ3Navigant. The new company created by this strategic venture will have a more extensive global network and a combined approximate total number of staff of 12,700 worldwide. The new company will have system-wide revenues in excess of $11 billion. Both Navigant and TQ3 are committed to strengthening their global reach and by Navigant joining the TQ3 organisation this will further solidify the ability to effectively serve the interests of major customers in many key markets. It is the goal of the new company to assure the highest quality of innovative travel management while providing the greatest value proposition. The new company marks TQ3’s continuing emphasis on its strategy to expand and expedite globalisation, points echoed by Marc Hildebrand, President & CEO of TQ3 Travel Solutions: “With globalisation firmly in mind, this move will further bolster our strong international presence. TQ3 is built upon in-depth market knowledge and experience, quality of service and unparalleled innovation, and we will continue to provide our multinational clients with specialised service – characteristics that Navigant, as the second largest player in North America, currently demonstrate.” Edward Adams, Chairman and CEO of Navigant International commented, “There is significant growth potential in the worldwide travel management market which can be tapped through an integrated approach with TQ3 Travel Solutions. We are leaders in our respective territories and can contribute a strong base of existing operations, customers and other resources. We are delighted to be joining with TUI Business Travel in TQ3, as they truly share our vision for customer service and support and the application of relevant technology solutions.” – ENDS – Notes to Editors About TQ3 Travel Solutions TQ3 Travel Solutions is the leading provider of quality, innovative travel expense management solutions to companies worldwide. With system-wide revenues in excess of $11 billion, TQ3 operates 1,200 locations in over 80 countries. For more information about TQ3, please visit our website www.tq3.com. About Navigant International Denver-based Navigant International, Inc. is the second largest travel management business services provider in North America with more than 13,000 corporate, government, military, leisure, and meetings and incentive clients. The Company’s “bricks and clicks” end-to-end travel solutions include corporate travel pattern analysis and ReportFLYR powered reporting tools; travel policy development; consulting on cost saving opportunities; airline ticket, hotel and car rental reservations; meeting and convention planning; and leisure travel products. With more than $4 billion in annual gross airline ticket sales, the Company currently employs more than 4,200 Associates and has operations in more than 1,300 locations in multiple countries on five continents. Navigant’s shares are traded on the NASDAQ National Market under the ticker symbol “FLYR.” For further information, please contact: Melanie Garrett, Director of Marketing EMEA APAC TQ3 Travel Solutions Greater London House Hampstead Road London NW1 7HQ Tel: +44 (0) 207 153 3310 Mob: +44 (0) 7736 105257 [email protected] Paul Shamon, VP Marketing Navigant International 84 Inverness Circle East Englewood, Colorado 80112 Tel: +1 303 706 0790 Fax: +1 303 706 0770 [email protected]
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