Major consolidation in the business travel sector has been signalled with one of the largest US travel management companies acquiring a rival.
Omaha-based Travel and Transport is taking over Radius Travel for an undisclosed sum to expand its global footprint.
The Radius network is made up of more than 100 agencies worldwide and manages more than $30 billion of annual corporate travel spending
Travel and Transport is a founding member of Radius Travel.
The benefits of this single ownership will deliver global data consolidation and “visualisation and greater buying power, which will benefit customers globally,” Travel and Transport said.
Travel and Transport CEO Kevin O’Malley said: “This acquisition will harness the power of Travel and Transport, with the global reach of Radius and its network partners. This is a significant component of our global strategy going forward.”
The deal follows the purchase of London-based Statesman Travel last year, renamed as Travel and Transport Statesman.
Shannon Hyland, current president and CEO of Radius Travel, will assume the position of senior vice president of global services for Travel and Transport.
Radius Travel will continue to operate from its global headquarters in Bethesda, Maryland. Kieran Hartwell has been promoted and will now serve as president of Radius Travel.
The travel network will continue to work with its 100-plus partner agencies across six continents.
Tim Fleming, president and chief operating officer of Travel and Transport and Radius Travel chairman, said: “When we began the process of consolidating ownership of Radius Travel in 2011, we viewed it from the perspective of how best to serve the clients of Radius Travel.
“Now, as a singularly owned global network, we will strengthen the customer experience by expanding our collective offerings focused on customer service, technology and operations.”
Hartwell added: “Our mission is to grow multinational business through the network, and to achieve that, we must continue to maintain a laser focus on the customer.”
Other recent deals by Travel and Transport include Ultramar Travel Management in New York, an investment in Munich-based Derpart MfG Reisen and the opening of an office in Lyon, along with other moves to bolster its position globally.