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The Importance of Corporate Travel Management. Effectively managing corporate travel is important for several reasons: 1. Cost control. Business travel is a major expense category for many ...
In December 2021, CTM announced the acquisition of the Helloworld Travel Group's corporate and entertainment brands. [ 1 ] In June 2023, the Independent reported CTM had been awarded a £1.6 billion contract to house asylum-seekers in the UK, including on barges. [ 5 ]
Corporate travel management is the function of managing a company’s strategic approach to travel (travel policy), the negotiations with all vendors, day-to-day operation of the corporate travel program, traveler safety and security, credit-card management and travel and expenses ('T&E') data management.
A travel management company (TMC) is a travel agency which manages organizations' corporate or business travel programs.Such companies will often provide an end-user online booking tool, mobile application, program management, and consulting teams, executive travel services, meetings and events support, reporting functionality, duty of care, and more.
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In 1986, in anticipation of diversification, Noro was spun off and the remaining company was renamed BCD Holdings N.V. The company entered the travel industry in 1987 with the acquisition of WorldTravel Advisors, an Atlanta-based travel management company, [3] [self-published source?] and of off-airport parking operation Park 'N Fly in 1988.
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