Tag Archives: business travel

American Express Global Business Travel (“Amex GBT”) announced it entered into a definitive agreement to acquire CWT  in a transaction that values CWT at approximately $570 million on a cash-free, debt-free basis, subject to certain assumptions and purchase price adjustments. The transaction will be funded by a combination of stock and cash and is expected to close in the second half of 2024, subject to the satisfaction of customary closing conditions, including the receipt of certain regulatory approvals. CWT serves 4,000 customers and is expected to generate approximately $850 million of revenues and $70 million–$80 million of Adjusted EBITDA in 2024. Paul Abbott, Amex GBT’s CEO, said: “Bringing CWT onto the proven Amex GBT software and services model will create more choice for customers, more opportunities for people and more value for shareholders.” After the acquisition closes, CWT customers would have access to Amex GBT’s proprietary software and services for travel and expense, including Neo1, Neo and Egencia, in addition to Select, which enables customers to integrate with leading technology partners. Customers would have access to the broadest portfolio of professional services, including meetings and events, consulting and sustainability solutions and Amex GBT’s marketplace would provide access to the most comprehensive and competitive content in the industry. CWT CEO Patrick Andersen said: “Joining forces with Amex GBT helps accelerate our vision of a tech-enabled future for business travel, where people and technology combine to deliver an exceptional customer experience. We are highly confident in the value creation of the combined company.” Significant Shareholder Value Highly attractive valuation and financial return: Based on CWT estimated 2024 Adjusted EBITDA of $70 million–$80 million and $155 million of identified synergies, Amex GBT acquiring CWT for …

WegoPro announced its collaboration with Circles. This partnership aims to enhance the booking experience for business travelers by integrating data roaming services seamlessly within their booking journey on WegoPro. With this collaboration, businesses can now streamline their business travelers’ experience across both pre and post-booking stages on the same platform, ensuring better control and efficiency while meeting the needs of the travelers. By adding connectivity services, WegoPro not only elevates the convenience for the business traveler but also enables businesses to manage all expenses within the same platform, simplifying the entire travel process. “We are thrilled to partner with Circles to enhance the business travel experience for our users,” said Prashant Kirtane, CEO of WegoPro. “By integrating Jetpac’s eSIM into our platform, we are empowering business travelers with seamless connectivity and exclusive perks, further solidifying WegoPro as the ultimate solution for modern business travel.” One of the key highlights of this collaboration is the introduction of Jetpac’s eSIM, offering users the ultimate convenience of travel roaming services. With a one-time installation of the eSIM, travelers can enjoy connectivity across all destinations covered by Jetpac, eliminating the hassle of SIM swapping forever. This eSIM can be used in over 100 countries and across multiple destinations within 30 days, enabling travelers to connect instantly upon landing without worrying about data roaming charges. Aditya Goyal, Business Head of New Business Build in Circles, said: “We are very excited to partner with WegoPro to bring our award-winning Jetpac Travel eSIM product to Business Travelers. With Jetpac Travel eSim, WegoPro customers will get seamless connectivity around the world. This is a new milestone in revolutionizing the Business Travel across the globe”. Jetpac’s eSIM also comes …

Wego launched WegoPro, a modern platform that simplifies business travel and expense management for companies globally. Formerly known as Travelstop, WegoPro will debut today in 7 key markets in the MENA region, including Saudi Arabia, UAE, Qatar, Bahrain, Oman, Kuwait, and Egypt. The rebranding follows Wego’s acquisition of Travelstop in September 2023, reinforcing Wego’s commitment to offer comprehensive travel solutions to businesses in the region. Market research firms predict that the global business travel market will be valued at over US$1.8 trillion by 2027 and will return to the pre-pandemic levels of US$1.4 trillion this year. A significant part of that growth is expected to come from markets in Asia and the MENA region. That growth, coupled with the increasing demand for more modern and innovative business travel solutions, represents a substantial opportunity for WegoPro in the region. “The Middle East is a very young population and most people in the workforce today have grown up with powerful travel apps and websites, like Wego, that have let them book their own personal travel,” said Ross Veitch, Wego CEO & Co-Founder. “In stark contrast in their professional lives they are often forced to book their business trips through cumbersome offline booking processes having to email back and forth with a corporate travel management company and then to go through a tedious approval process. After the trip expense reports then need to be filed in a process normally involving Excel, receipts and sticky tape. With the launch of WegoPro today we are leveraging technology and our deep experience in the B2C space to bring business travel & expense management into the 21st century.” WegoPro offers a diverse and extensive range of flight and …

The Mohammed bin Rashid Aerospace Hub (MBRAH) at Dubai South continues to achieve outstanding private jet movements, with a record 16,657 movements in 2023, a growth of 8% over 2022, marking the highest-ever movements achieved in Dubai. The growth of movements is attributed to several factors, including the hosting of the Dubai Airshow, COP28, and the soft opening of the new ExecuJet FBO and hangar. The impressive milestone reaffirms Al Maktoum International Airport’s position as the busiest airport for international business aviation movements in the Middle East. 2023 was also a successful year at MBRAH, witnessing several agreements with new partners seeking to set up their facilities across different zones to provide different MRO services, including manufacturing aircraft parts and structures, sealing and painting, AOG and aircraft parts supply, sourcing engine assets, and refurbishing private jet interiors. Additionally, the MRO trade from MBRAH’s Aerospace Supply Chain, which includes import, export and re-export, has increased and is expected to reach over AED 8 billion over the next few years, emphasising the growth of MRO activities. In his comments, Tahnoon Saif, CEO of MBRAH, said: “Last year marked an extraordinary milestone for us at MBRAH; not only did we record the highest-ever business aviation movements, but we also enriched our portfolio with new companies and announced the expansion of facilities. These achievements underscore the trust and immense value we offer through our cutting-edge infrastructure and world-class facilities, all within Dubai’s strategic embrace of the sector’s global growth. At MBRAH, our commitment persists, in perfect harmony with our visionary leadership’s strategy, to cement Dubai’s position as an aviation capital.” MBRAH offers global aerospace players high-level connectivity and is a free-zone destination for the …

Arabian Travel Market (ATM) announced a strategic partnership with the International Congress and Convention Association (ICCA) and the Global Business Travel Association (GBTA) for the upcoming edition of the event, which takes place from 6-9 May 2024 at the Dubai World Trade Centre. The renowned global organisations have been appointed as ‘Knowledge Partners’ for the regional trade show, providing in-depth insights and opportunities for the thriving segments of business events and travel. According to the ICCA statistical forecast, which charts the history and performance of the International Association Meetings Industry from 1963 to 2022, 10,602 business events were recorded worldwide last year, of which 9,009 (85%) were in-person. This represented an astounding 349% increase from the previous year when only 2,007 in-person events occurred. Interestingly, the Middle East accounted for the highest percentage of in-person delegates (94%) in last year’s official figures. The business travel industry is also experiencing significant growth, as evidenced by statistics from the 2023 GBTA Business Travel Index™ Report, which found that the global business travel industry rebounded faster than expected in 2023. Pent-up demand following the pandemic and healthier economic conditions than forecasted were highlighted as significant contributing factors for this shift. The report also stated that global business travel spending rose by 47% to $1.03 trillion last year and is expected to grow to nearly $1.8 trillion globally by 2027. Danielle Curtis, Exhibition Director, Arabian Travel Market, said: “All of the latest research suggests that the business events and business travel sectors are going from strength to strength. These sectors have always been important verticals at ATM, and the official partnership with ICCA and GBTA for the 2024 edition will take our offering to …

Christopherson Business Travel and Travelport jointly announced an industry first: being the first travel management company (TMC) to successfully issue a ticket on the revolutionary Deem platform since its integration with Travelport+. The move signals a significant advancement in corporate travel management and marks the dawn of a new era in modern retailing. The integration of Deem with Travelport+ demonstrates Christopherson’s commitment to providing its customers with the most efficient and advanced travel booking options. New distribution capability (NDC) technology allows for more personalization, flexibility, and transparency in booking and servicing travel, ultimately enhancing the customer experience. As longtime partners of Travelport, Christopherson was one of the first North American TMCs to upgrade to Travelport+, enabling the agency to deliver the modern retailing experience their customers expect. Travelport+ simplifies access to multi-source content and generates value for agents and travelers, with advanced retailing capabilities, sophisticated cloud-based point of sale solutions, and tools that make operations easier. “Adopting Deem with Travelport+ is a game-changer for our clients,” said Mike Cameron, CEO of Christopherson Business Travel. “This successful implementation not only positions us at the industry’s forefront, but it ensures our customers benefit from a consumer-like booking tool with multi-source content, including NDC, displayed in a modern storefront, all powered by Travelport+.”

Statistics echo this sentiment, with ‘bleisure’ tourism accounting for 30-35% of the global business tourism market and boasting a staggering worth of $500 billion (Dh2 trillion) in 2022. The upward trajectory is set to keep rising, with a projected growth rate of 20% over the ensuing decade. As the corporate travel industry regains its stride post challenges, the concept of ‘bleisure’ tourism, a blend of business and leisure travel, is quickly positioning itself as not only popular but also economically prudent, reveals Musafir Business, the leading all-in-one corporate travel management platform in the region by musafir.com. Sachin Gadoya, CEO and Co-Founder of musafir.com and Musafir Business, offers insights, “Following the pandemic, the sphere of ‘bleisure’ travel is witnessing a significant upswing in the region, with nearly 20% of corporate travelers thoughtfully weaving leisure experiences into their business journeys. Projections indicate that this number is destined to rise further by 15% in the times ahead.” This dynamic shift is evident as individuals extending their business trips by 1-2 days for leisure, and vice versa, becomes increasingly common. Forecasts predict these trips will span more destinations, boasting longer durations. Larger international companies are quick to adopt this trend, while smaller-scale and local firms, which are not multinational corporations, may take more time to embrace it. The average ticket price for corporate travel within the GCC ranges from AED 3,500 to 4,000, and this trend is expected to continue through 2024. Amid the scorching summer heat, corporate travel primarily entails outbound trips from the UAE. Prominent business travel destinations like Europe, the USA, and South East Asia proficiently address the diverse demands of corporate globetrotters, with ticket prices ranging between AED 5,500 to …

Travelport confirmed the integration with Deem and Travelport+. The announcement comes just months after Travelport publicized the game-changing acquisition, a move intended to fulfill a growing need for a tight, fully-integrated tool that provides access and end-to-end servicing of all multi-source content, including NDC. “Business travelers want, and deserve, the same modern retailing experience as leisure travelers,” said John Elieson, COO and Deputy CEO of Travelport. “When Travelport announced the acquisition of Deem in March, it was with the intention of providing the corporate travel world with award-winning, complementary tools that are as revolutionary, modern, and easy-to-use as Travelport+. We’ve not only delivered on that promise, but are proud to confirm the integration of the Deem and Travelport+ platforms.” Together, Deem and Travelport are modernizing the corporate travel experience. Travel management companies (TMCs), corporations and their travelers that utilize Deem and Travelport+ will be able to access a wide range of rich and relevant content, all in one place, enhanced by the Content Curation Layer (CCL). This Travelport+ feature uses powerful artificial intelligence (AI) and machine-learning (ML) capabilities to provide agents and travelers a more modern retailing experience with faster search responses, more pertinent results, and greater accuracy. When seamlessly integrated with Deem’s award-winning, modern user interface, this will allow travelers to stay within their corporate policies while ensuring bookings (including NDC) are fully serviceable. In the 150 days since the acquisition, Deem has continued to thrive, with notable moments such as: Being named a Champion in Software Reviews 2023 Travel Management Emotional Footprint Awards Expanding to support global customers in more than 60 countries Achieving a net score of 9.5 in a customer satisfaction survey, a nearly two-point lead …

Ibrahim Nalkhande is the newly appointed General Manager at Business Travel LLC, a leading Dubai based Travel Management Company. Nalkhande, described as a man of wisdom, insight and understanding, said he is very excited about the upcoming challenges and opportunities. Having established reputation in the travel industry and got experience from some of the renowned brands of the industry, Nalkhande said he had a clear mandate to take Business Travel to the next summit. The fiscal year 2023 started with a very positive note special mention to first two months recorded performance, the momentum will gain further pace , and I am optimistic that we will exceed the pre-pandemic numbers in this year stated Nalkhande. I am very excited with the new role and challenges that lie ahead for m in my new assignment. I will use the diversified experience and expertise of Travel Industry for the betterment, growth and profitable business development of Business Travel LLC said Nalkhande who shares the vision of Rashid Al Noori, the Chairman and stalwart of the industry, the visionary of ‘Business Travel LLC ‘an expanding conglomerate that saw its beginning in Dubai in 2006.

Business travel in the Middle East and Africa (MEA) is recovering more rapidly than in any other region, according to the most recent Business Travel Index™ Outlook annual forecast and outlook (2022), from the Global Business Travel Association (GBTA), the world’s largest business travel association. MEA business travel achieved 86% of its 2019 levels during 2022, outperforming the recovery in Americas, Asia Pacific and Europe. The strong performance of the sector and future opportunities will come under the spotlight during Arabian Travel Market (ATM) 2023, which takes place at Dubai World Trade Centre (DWTC) from 1-4 May. Danielle Curtis, Exhibition Director ME, Arabian Travel Market, said: “The business travel sector is a key component of the Middle East’s wider travel and tourism industry, and it is encouraging to see that it has bounced back so strongly since the pandemic. The Global Business Travel Association (GBTA) will present an in-depth analysis of how technology can support this return to travel and the ways in which this can be done sustainably in two education sessions with key insights from leading industry professionals.” According to the forecast, business travel spending reached $933 billion globally in 2022, 65% of the USD $1.4 trillion business pre-pandemic travel spend, with the MEA region accounting for $23 billion or approximately 2.5% of overall spending within the sector. “The MEA region is an important growth market for business travel and benefitted from a prompt Covid-19 vaccination roll-out in key markets such as the UAE and Israel, as well as increased economic activity driven by the rising price of crude oil to accelerate the business travel recovery. The region is expected to return to pre-pandemic business travel spend by …