BCD Travel takes ownership stake in Dubai partner
BCD Travel strengthens Middle East presence by taking ownership stake in leading Dubai travel management company
UTRECHT, The Netherlands, Feb. 26, 2013 – BCD Travel, one of the world’s leading travel management companies, today announced it has taken a minority ownership stake in its long-time partner in Dubai, which has been operating as BCD Travel LLC.
“Over the past several years, the Middle East has been a consistently strong economic performer,” said Joop Drechsel, chief executive officer of BCD Travel. “Our investment in Dubai enhances our ability to support companies and travelers in this dynamic region. It’s a natural outgrowth of our long partnership with a solid company that already services many of our top multinational customers.”
With annual revenues of US$57 million, BCD Travel LLC is one of the United Arab Emirates’ leading travel providers. It has been BCD Travel’s partner since 2006, and has three offices in Dubai. In addition, the agency maintains onsite teams of travel consultants at multiple corporate offices.
Khalid Al Rostamani, vice chairman of AW Rostamani Group, holds the majority of the remaining ownership shares. The AWR group is one of the United Arab Emirates’ largest and oldest family business conglomerates.
“The Middle East is becoming increasingly important to travel buyers whose companies do a lot of long-haul flying,” said John Snyder, BCD Travel global president and chief operating officer. “Our strengthened partnership with BCD Travel LLC signals our commitment to providing the levels of service buyers expect in every region key to their success.”
Khalid Al Rostamani, who also serves as chairman of BCD Travel LLC, Dubai, said: “Strong partnerships are key to flexible and efficient responses to rapidly evolving markets, technologies and customer needs. This kind of business model has had great success in other areas of our group’s activities. We have proven synergies with BCD Travel, and we look forward to further leveraging our mutual focus on powering our customers’ business success and providing excellent and consistent service to their travelers.”
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 a global client retention rate of 98%, the highest in the industry. 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), Park ‘N Fly (off-airport parking) and Airtrade (consolidation and fulfillment). For more information, visit www.bcdgroup.com.