BCD Travel invests heavily in China and Hong Kong
Company takes majority ownership in Greater China market
UTRECHT, Sept 27, 2016 – BCD Travel has signed an agreement to take a majority ownership in its China and Hong Kong joint venture. The agreement gives BCD Travel controlling interest in a new Greater China market, one of the world’s fastest growing economic regions. The agreement includes BCD Travel China and BCD Travel Hong Kong.
“This investment is the result of careful, long-term planning,” said Greg O’Neil, BCD Travel’s president of Asia Pacific. “As the majority stakeholder in our Greater China venture with our trusted partner MF Jebsen, we look forward to enhancing our product and service offerings in this key market.”
The new BCD Travel Greater China will employ more than 470, operating from three offices in China and one in Hong Kong. With a population of 1.4 billion people and an average GDP growth of 6.8% per year, Greater China represents significant opportunity for growth for the company in the Asia-Pacific region.
“Our majority ownership of Greater China demonstrates our aggressive acquisition strategy,” said John Snyder, president and CEO of BCD Travel. “We’re growing in markets where demand for corporate travel services is increasing and where our clients want us to be. Greater China opens up new business opportunities for us in one of the world’s largest markets.”
About BCD Travel
BCD Travel helps companies make the most of what they spend on travel. We give travelers innovative tools that keep them safe and productive, and help them make good choices on the road. We partner with travel and procurement leaders to simplify the complexities of business travel, drive savings and satisfaction, and move whole companies toward their goals. In short, we help our clients travel smart and achieve more. We make this happen in 109 countries with almost 13,800 creative, committed and experienced people. And it’s how we maintain the industry’s most consistent client retention rate, with 2018 sales of US$27.1 billion. For more information, visit www.bcdtravel.com.
About BCD Group
BCD Group is a market leader in the travel industry. The privately-owned company was founded in 1975 by John Fentener van Vlissingen and consists of BCD Travel (global corporate travel management and its subsidiary BCD Meetings & Events, global meetings and events agency), Travix (online travel: CheapTickets, Vliegwinkel, BudgetAir, Flugladen and Vayama), Park ‘N Fly (off-airport parking) and Airtrade (consolidation and fulfillment). BCD Group employs over 14,900 people and operates in 109 countries with total sales of US$29.8 billion in 2018, including US$10.7 billion partner sales. For more information, visit www.bcdgroup.com.