Traveling for business post-pandemic can be stressful, but it doesn’t have to be that way. Business travel management companies, on the other hand, provide numerous benefits to both large and small businesses. Similarly, a good travel management company would take every step to ensure your company and employees are well-informed of any safety, compliance, and health updates in advance or in real time. Read on to find out about the largest travel management companies in the world.
What Are Travel Management Companies?
Travel Management Companies (TMCs) are travel agencies that manage organizations’ corporate or business travel programs. They also provide an online booking tool for users, a mobile application, and program management and consulting teams. They equally provide executive travel services, meeting and event support, reporting functionality, and other services. Non-profit travel management organizations can also assist with complicated visa requirements, pre-trip medical needs, and remote area travel.
Things to Consider When Choosing a Travel Management Company
Many organizations and corporate travelers look to a travel management agency to manage all their travel needs. This is because the cost savings from flight bookings, accommodations, and other travel services are undeniable. With a growing number of travel management agencies everywhere, how do you choose one that suits your company’s needs?
#1. Time and Cost Savings
Without a doubt, many large and small businesses that outsource their travel services would have to incur a service fee to benefit from the various perks and travel discounts offered by a travel management agency. Moreover, any additional fees incurred will be offset in terms of perks or discounts for flight bookings and hotel accommodation.
#2. Diverse and Sustainable Range of Corporate Travel Programs
According to Expedia’s study, three in five travelers are willing to pay more fees to make a trip sustainable. An environmentally friendly travel management company places greater emphasis on sustainable business travel practices such as partnering with green hotels and providing ground transportation to and from the airport or hotels.
#3. Transparent and Convenient Booking
An excellent online booking system with easy access and accurate details of the fee structure, discounts, and facilities makes it quick and convenient for businesses or corporate travelers. Businesses and corporate travelers want to know what they are being charged for when dealing with a business travel agency.
#4. A Personalized Experience
Without a doubt, selecting a travel agency that does not specialize in international travel will make it difficult to change flight or hotel bookings and receive urgent updates on health and safety concerns. Alternatively, opt for a local one like Holiday Tours with affiliations to CWT, a long-standing global network in business travel management.
Business travelers are prime targets of cyber attacks when traveling abroad. Take some time to discuss with the travel management company how they will store your employees’ personal details online. Sensitive information should only be stored for a limited timeframe and cease to exist once the business travel company has fulfilled its obligations.
#6. Excellent Support Services
Traveling for business post-pandemic can be stressful, but it doesn’t have to be that way. A good travel management company will take every step to inform your company and employees of any safety, compliance, and health updates in advance or in real time.
Largest Travel Management Companies in the World
Below are the largest travel management companies in the world
#1. Booking Holdings
Booking Holdings is one of the largest travel management companies in the world by market share. The company was launched in 1997 with the introduction of Priceline.com. Operating in over 220 countries in 40 different languages, there are more than 28 million listings available between hotels, homes, and apartments on the Booking Holdings travel sites. The company’s brands include Priceline, Kayak, Agoda, CheapFlights, Rentalcars.com, and OpenTable.
More than 24,500 employees call Booking Holdings home across 140 different nationalities. Headed by CEO Glenn D. Fogel, Booking Holdings calls Norwalk, Connecticut home for its global headquarters.
#2. Expedia Group
Expedia Group relinquished its title in 2021 with $72.4 billion in gross sales. They are also among the largest travel management companies in the world and are available in more than 70 countries. Expedia is home to a large number of familiar brands. Equally, the company divested itself of corporate travel activity in 2021 after selling to American Express Global Business Travel.
Furthermore, the Expedia Group is the parent company of hotels, airlines, cruise lines, and car rental companies. The company has more than 200 travel sites in more than 70 countries around the world. Expedia’s headquarters are in Seattle, Washington. Expedia is run by Bary Diller after taking over the company in 2020.
#3. American Express Global Business Travel
American Express Global Business Travel, the world’s leading B2B travel platform, should not be confused with American Express Travel, which focuses on leisure trips. While the company uses the American Express name, the credit-card giant owns only 50% of the company, with the remaining 50% owned by a private investor group. GBT, headquartered in Jersey City, New Jersey, had $33.7 billion in sales in 2021, easily cementing it as one of the world’s largest travel companies.
More than 18,000 employees support both the software and services offered by the company to its vast network of global corporate clients. Its platform can manage everything from travel and expenses to meetings and events. GBT expanded its reach in May 2021 after acquiring Egencia, Expedia’s corporate travel division, and Ovation Travel Group in January 2021.
BCD Travel, founded in 2006, is a subsidiary of the BCD Group based in the Netherlands, with more than $27 billion in sales expected in 2021. When the BCD Group acquired TQ3 Travel Solutions Management Holding and The Travel Company, the name was changed to BCD Travel. BCD Travel focuses on corporate accounts and aims to help travelers stay safe and productive while on the road. They claim a 98% client retention rate while operating in 109 countries around the world.
Additionally, BCD Travel headquarters are in the Netherlands, where it is the largest travel company in the country. CEO John Synder oversees operations in Atlanta, London, and Singapore. BCD Travel employs nearly 14,000 people and has its own subsidiary focused on global meetings and events, appropriately named BCD Meetings & Events.
CWT, formerly Carlson Wagonlit Travel, is primarily a business travel company. The company was founded in 1994. The headquarters are in Minneapolis, Minnesota, and the company expects to generate $25 billion in sales by 2021.
CWT takes pride in simplifying corporate travel so that employees are not bogged down by software issues. CWT is a full-service solution for corporate organizations of all sizes, offering business travel, meetings, conferences, exhibitions, and event management. More than 18,000 employees support travel in more than 145 countries.
#6. Flight Centre Travel Group
Flight Centre Travel Group is the world’s sixth-largest travel company and the first whose headquarters are not in the US. The headquarters are in Brisbane, Australia. This Group was founded in 1982 and operates in five distinct regions: Australia and New Zealand; North America; Asia; Europe; and South Africa. In addition to these locations, the company’s global corporate travel management network, or FCM Travel Solutions, has strategic licensing agreements that extend its reach to 90 countries.
Flight Centre Travel Group employs over 20,000 people to support its massive reach and expects to generate more than $16 billion in sales by 2021. Under CEO Graham “Skroo” Turner, Flight Centre’s emphasis on being passionate about its love of travel has helped drive its success. Turner is in charge of more than 35 distinct brands that operate under the Flight Centre Travel Group umbrella, serving both leisure and corporate travelers.
Internova is a private company that serves customers all over the world and through various modes of transportation. The company, headquartered in New York, operates more than 20 brands in various aspects of the travel industry. With over 70,000 travel advisors worldwide and 6,000 company-owned travel agencies, the company’s sales in 2021 are around $7.12 billion.
Internova, which was founded in 2008, facilitates travel to more than 80 countries through its primary brands, which include Travel Leaders Corporate, Travel Leaders Network, CruCon Cruise Outlet, Cruise Specialists, Road Trips, and others. Each brand focuses on one of Internova’s four primary travel categories: Corporate and Entertainment, Premium Travel, Network, Host and Vacation, and Hotel Wholesale.
In 2020, Founder and Chairman Michael Batt changed the company name from Travel Leaders Group to Internova in order to unify all of the company’s business units under one modern brand.
Who Are the 3 Travel Agents?
Business, leisure, and special travelers
What Are the Four Kinds of Travel Agencies?
There are four main types of travel agents in the travel and tourism industry: high street, business, call center, and Internet.
What Are Some Names of Travel Agencies?
The Best Travel Agency Names
- The Royal Seat.
- Sunshine Travels.
- Liberty Tours.
- Travel Sense.
- Terrific Travels.
- Dream Escape.
- Adventure Travels.
- Sky’s the Limit.
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FAQs on the Largest Travel Management Company
How many travel companies are in the US?
There are 73,249 Travel Agencies businesses in the US as of 2022, an increase of 5.2% from 2021.
Do rich people use travel agent?
Yes, some wealthy people use travel agents. And, they can be both lucrative and demanding clients. And yes, people who can afford to travel skew towards higher income.
Why is corporate travel management important?
Reduce costs: a major advantage of using corporate travel management agencies is reducing travel costs. This includes accommodation rates, insurance, airline tickets, and any other related expense. A business travel agent will have the necessary experience to find or negotiate the best possible deals for the company.