Corporate Travel Management scores major government contract

Corporate Travel Management scores major government contract
Edited by Travel Weekly

    Corporate Travel Management has been awarded the Travel Management Services contract for the ‘Whole of Australian Government’ (WoAG) for an initial 4-year term with a further 3 years of extension options.

    The WoAG Travel program is considered to be the largest travel program in Australia and New Zealand and is estimated to contribute approximately 20 per cent of CTM’s revenue and 30 per cent of total transaction value (TTV) in the ANZ region in FY24.

    The contract will commence 1 July 2023 and CTM will be the sole provider.

    The new contract combines the WoAG travel management and accommodation contracts.

    CTM said that by utilising its technology suite, WoAG will enjoy a bespoke service model, relevant travel tools and savings benefits driven by CTM’s offering. In turn, this will allow CTM to be much more efficient in its service delivery.

    Importantly for CTM customers in the region, WoAG will be a stand-alone offering utilising dedicated staff. As a result, this will have no impact upon servicing or technology development for CTM’s corporate client base in Australia.

    The resolution of this material contract underpins CTM’s strategy of delivering superior service and technology for all of its clients in the ANZ region.

    The CTM share price jumped four per cent yesterday in reaction to the contract win, but at market close it finished down 0.83 per cent at $17.92.

    CTM’s share price has risen over 20 per cent since the start of the year as the company recovers from the pandemic.

    Featured Image: Jamie Pherous CEO of Corporate Travel Management (Corporate Travel Management)

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