The Association of Corporate Travel Executives (ACTE) has ceased operations and will file for
Chapter 7 bankruptcy, according to a statement on the association’s website. The statement cited not only the COVID-19 pandemic, but also the cancellation of the August 2019 ACTE Global Summit in Macau due to protests in Hong Kong. "The dual impacts of the cancellation of the Asia conference due to the security situation in Hong Kong and the COVID-19 pandemic cancellations have been blows that ACTE, as a small, nonprofit association, has not been able to withstand," said the statement. ACTE this year had also canceled its New York Global Summit, which was to have taken place in April. The statement said recent spikes in COVID-19 have made investors and partners “justifiably pessimistic around the viability of event-based organizations for some time to come.” At this point, said the statement, “the fiscally and morally responsible next step is to cease operations and defer to a trustee to determine the distribution of payments to creditors.” ACTE was founded in 1988 and claimed 2,000 members.