Australia-based TMC sees rapid rebound in North America after acquisition of Travel & Transport >>
by: Harvey Chipkin
Corporate Travel Management, the Australia-based travel management company, reported a strong first half of fiscal year 2022, building momentum in spite of the impacts of the Delta and Omicron COVID-19 variants. The UK and North America, according to the report, are experiencing a rapid rebound in client activity in February 2022 as restrictions have been lifted. The company also expects to benefit from a greater than normal seasonal weighting of corporate travel activity towards the second half of the fiscal year. CTM North America reported positive underlying EBITDA for the period and expects an early return to pre-COVID-19 profitability on the back of synergies and market share gains after integrating Travel & Transport. North America led the group in new client wins, according to the report, “demonstrating growing client support for CTM’s service proposition and technology offering.” With domestic travel restrictions removed in February and international restrictions expected to wind back in the fourth quarter of 2022, CTM expects improving profitability in North America as a result of three drivers:
• Increased penetration of Lightning online booking tool – Lightning creates efficiency gains, freeing up expert travel advisors to service complex travel itineraries.
• Integration benefits – CTM’s integration of a single client system will be completed in June 2022 and is expected to create efficiency benefits on a full recovery of travel activity that are significant and beyond initial expectations.
• Market share gains driven by superior technology, service and sales investment –The Group’s financial strength allows the business to continue investments in enhancing client and agent solutions.
The group, according to the report, will continue to assess acquisition opportunities that support the global strategy to create more levers for long-term organic growth.
We use cookies to offer you a better browsing experience, analyze traffic and personalize content. Read how we use and protect your data in our privacy policy. Do you accept cookies?