Business Travel Market To Witness Huge Growth | Major Giants BCD Travel, Carlson Wagonlit Travel, Expedia
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Business Travel Market To Witness Huge Growth | Major Giants BCD Travel, Carlson Wagonlit Travel, Expedia
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TMC acquisitions, mergers and failures have been a feature of the Covid pandemic that has devastated the business travel industry, but last week’s deals took industry consolidation to a new level.
The first saw American Express Global Business Travel (GBT), a legacy TMC well versed in scaling up through acquisition, announce a binding offer to bring Expedia-owned Egencia into its stable.
GBT has already acquired New York-based Ovation Travel Group this year and, most notably, bought HRG in 2018 in a deal that saw it become the UK’s largest TMC. Also established as the world’s largest TMC, the addition of Egencia – which is thought to be the world’s fourth or fifth largest TMC – gives GBT an incredibly dominant position.
FROSCH Acquires New Yorkâs Iconic Valerie Wilson Travel
The VWT team at their New York office opening in 2018.
New York’s Valerie Wilson Travel is being acquired by Frosch International Travel, joining two of the travel industry’s most storied families together under one umbrella.
Valerie Wilson Travel will continue to operate as an independent brand, with the agency’s executives remaining in their positions and joining FROSCH’s executive and leadership team Valerie Ann Wilson will remain as CEO; Jennifer Wilson-Buttigieg and Kimberly Wilson Wetty will remain as co-presidents; Brian Buttigieg will be appointed VWT’s COO effective immediately and will join FROSCH as general counsel’ and Patrick Fragale, executive vice president for VWT, will expand his responsibilities.