CWT (company)

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CWT
Formerly
Carlson Wagonlit Travel
Privately held company
IndustryTravel management company
Founded1994; 26 years ago (1994)
HeadquartersMinneapolis, Minnesota, United States
Area served
145 countries
Key people
Kurt Ekert, CEO
ServicesEvent management
RevenueUS$1.5 billion
OwnerCarlson
Number of employees
18,000
Websitewww.mycwt.com
Footnotes / references
[1]

CWT (formerly Carlson Wagonlit Travel) is a travel management company that manages business travel, meetings, incentives, conferencing, exhibitions, and handles event management.

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[edit]

The group has existed in its present form since 1994, the result of a 50%/50% merger of two large travel agencies: the Ask Mr. Foster Travel Agency chain, later called Carlson Travel Network, and the travel agency of Compagnie Internationale des Wagons-Lits (literally sleeping car), founded by Georges Nagelmackers in 1872 in Belgium and later acquired by Accor.[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]

References[edit]

  1. ^ a b "CWT at a glance".
  2. ^ "Power List 2019". Travel Weekly.
  3. ^ Biesiada, Jamie (February 21, 2019). "CWT scrubs Carlson and Wagonlit from name". Travel Weekly.
  4. ^ "Accor Divests Stake in Carlson Wagonlit Travel" (Press release). Hospitality Net. 27 April 2006.
  5. ^ "Carlson Announces It Will Take Full Ownership of Carlson Wagonlit Travel" (Press release). Business Wire. June 22, 2014.
  6. ^ Phelps, David (March 5, 2015). "Carlson board sharpens its focus". Minneapolis Star Tribune.
  7. ^ King, Danny (June 23, 2014). "Carlson to take full ownership of Carlson Wagonlit Travel". Travel Weekly.
  8. ^ "Carlson Wagonlit Travel launches new division dedicated to hotels – RoomIt by CWT". CWT (Press release). July 17, 2017.
  9. ^ Chaturvedi, Anumeha (July 17, 2017). "Carlson Wagonlit Travel launches new division RoomIt dedicated to hotels". The Times of India.
  10. ^ "CWT is the New Name in Digital Business Travel, Hotel Distribution, and Meetings & Events". CWT (Press release). February 18, 2019.

External links[edit]