US travel management company Travel and Transport will become part of Corporate Travel Management following the announcement of a $274.51 million acquistion deal.

Headquartered in Omaha, Nebraska, T&T's geographical footprint is expected to add $3.62 billion to CTM’s North American operation, as well as contributing an expanded presence in the UK, Germany and France.

The acquisition also includes Radius Travel business - a global network of corporate travel agencies in more than 100 countries that offers highly competitive corporate rates across 44,000 hotels in 160 countries.

At a glance: 

• Corporate Travel Management has announced the acquisition of US travel management company Travel and Transport and its Radius Travel Business for $274.51 million.
• T&T’s leadership team will combine with CTM as part of a structure that will see Kevin O’Malley as CEO North America, Maureen Brady as COO alongside Josh Weiss as CFO and Tim Fleming as President and Integration lead.
• The integration is underway and will happen quickly due to the current reduced customer activity, allowing the combined business to emerge from COVID-19 in a strong competitive position.

CTM founder and Managing Director Jamie Pherous said strong cultural alignment is a strategic driver of the acquisition alongside adding significant presence  to CTM’s North American operations.

“We are excited to bring our two companies  together under the CTM umbrella," he said.

"Travel and Transport has an incredible reputation and a long history of success within the global travel industry, and we have shared views about delivering personalised service and proprietary technology to generate strong returns for clients on their travel investments.

kevin_omalley.jpg

T&T CEO Kevin O’Malley. Source: Corporate Travel Management 

T&T will be rebranded to CTM and the combined company will represent a common value proposition of personalised client service excellence and innovative client-facing technology delivering  unparalleled return on investment for clients.

T&T’s leadership team will combine with CTM as part of a structure that will see Kevin O’Malley as CEO North America, Maureen Brady as COO alongside Josh Weiss as CFO and Tim Fleming as President and Integration lead.

Mr O’Malley said integration was underway and would happen quickly due to the current reduced customer activity, allowing the combined business to emerge from COVID-19 in a strong competitive position.

“Travel and Transport has been in business for 74 years, growing from a one-person operation in Omaha, Nebraska, to one of the largest corporate TMCs in the US," he said.

“We are excited about the opportunities for our people and our clients by becoming part of a growing travel management company.

"We were very impressed with CTM’s technology, in particular the lightning online booking tool, and CTM’s strength in the Asia pacific region.

"CTM will be a great place for our employees to call home.”

Similar to this: 

Bayleys backs New Zealand’s tourism sector with acquisition of Resort Brokers

Why hotels are getting on board with sustainable development

'In many ways, it has brought us closer': How Wyndham Destinations is navigating the Covid-19 crisis