CWT (company)
Travel management company From Wikipedia, the free encyclopedia
CWT (formerly Carlson Wagonlit Travel) is a travel management company that manages business travel, meetings, incentives, conferencing, exhibitions, and handles event management.
| |
| Formerly | Carlson Wagonlit Travel |
|---|---|
| Company type | Privately held company |
| Industry | Travel management company |
| Founded | 1994 |
| Headquarters | Minneapolis, Minnesota, United States |
Area served | 145 countries |
Key people | Patrick Andersen, President & CEO |
| Services | Corporate travel management, Event management |
| Revenue | US$1.5 billion |
Number of employees | 18,000 |
| Website | www |
| Footnotes / references [1] | |
Headquartered in Minneapolis, Minnesota, the company reported US$23 billion in total transaction volume in 2018.[1] It is ranked 5th on the list of top earning travel companies published by Travel Weekly.[2]
History
Summarize
Perspective
CWT has existed in its present form since 1994, the result of a merger of two large travel agencies: the Carlson Travel Network (originally called the Ask Mr. Foster Travel Agency) and the travel agency division of Compagnie Internationale des Wagons-Lits, founded by Georges Nagelmackers in 1872 in Belgium and acquired by Accor in 1991.[3]
On April 27, 2006, Accor announced the sale of its 50% interest in CWT: 5% to Carlson and 45% to One Equity Partners, an affiliate of JP Morgan Chase.[4]
On June 22, 2014, Carlson, which owned a 55% stake in CWT, agreed to acquire the 45% interest in CWT held by JPMorgan Chase.[5][6][7]
In July 2017, the company launched RoomIt by CWT, dedicated to hotel distribution.[8][9]
On February 18, 2019, the company announced that it was rebranding as CWT.[10]
On July 31, 2020, the Register reported that CWT was the victim of a ransomware incident a week earlier, in which they paid US$4.5 million.[11]
In 2022, CWT had a capital injection which resulted in Carlson becoming a minority shareholder.[12]
On March 25, 2024, rival American Express Global Business Travel announced its intention to buy CWT for $570 million.[13] In January 2025, the US Department of Justice sued to block the acquisition.[14]
References
External links
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