Corporate Travel Management completes acquisition of US travel firm

M&A Merger And Acquisitions written on a notepad with marker.

After announcing the acquisition of Travel & Transport last month, Corporate Travel Management (CTM) has advised shareholders that the US travel firm is now officially part of the group.

CTM purchased Travel & Transport, which is based in Omaha, Nebraska, for US$200.4 million ($274.5 million).

The company, which was founded in 1946 and also has a European presence, generated US$2.8 billion ($4 billion) in total transaction value during the 2019 calendar year, 60 per cent of which was from corporate air travel, and 30 per cent of which was from hotels.

Travel & Transport also owns Radius Travel, which operates a large-scale hotel program with a number of prominent brands across 160 countries.

Kevin O’Malley, the incumbent CEO of Travel & Transport, will lead the newly combined entity.

CTM funded the acquisition via a fully underwritten entitlement offer which raised $375 million – $262 million came from the institutional component and the remaining $113 million from the retail offer.


Image source: iStock/designer491

Latest News

  • Products

Embrace the journey: Traversing the world with the Shokz OpenRun

If you’ve been on the wrong side of a final call in the airport, or missed the stop on rail journey, it might be time to invest in a pair of Shokz OpenRun headphones. Originally marketed as headphones for fitness fanatics, runners or cyclists with a keen to steer clear of a prang with a car, […]

  • Tour Operators
  • Tourism

TTC: Deals are driving up demand for September trips

The latest market research from TTC Tour Brands shows interest in international leisure travel remains high for 2024, with 77 per cent of Australians over 18 still planning trips this year. Notably, 28 per cent of those travellers are eyeing September for their journeys. Europe continues to be the most popular destination, with 68 per […]

  • Aviation

Qantas ‘working urgently’ to fix app data leak

Qantas is looking into customer reports that passengers have this morning been able to access other passengers’ personal information on the airlines app. X user Lachlan posted that he was able log into different accounts every time he opened the app. My @Qantas app logs me in to a different person each time I open […]

  • Hotels

Revamped Wailoaloa Beach hotel opens as Crowne Plaza Fiji Nadi Bay Resort & Spa

Crowne Plaza Fiji Nadi Bay Resort & Spa is open and ready for bookings after the first phase of a multi-million-dollar transformation. Part of IHG Hotels & Resorts’ premium collection, the transformation has seen the completion of 106 guestrooms showcasing contemporary interiors reflective of the premium Crowne Plaza brand and is a first for the […]

  • Luxury
  • News

Kamalaya Koh Samui clinches clutch of wellness awards

Kamalaya Wellness Sanctuary & Holistic Spa has so far clinched five prestigious awards in 2024, including being inducted into the ‘Hall of Fame’ at the World Spa & Wellness Awards in London. Founders of the Koh Samui sanctuary and spa John and Karina Stewart expressed their heartfelt gratitude for the awards. “We are profoundly honoured […]