Leading travel management company BCD Travel releases financial results for 2018; total sales at record high
UTRECHT, The Netherlands, January 31, 2019 – Leading travel management company BCD Travel today announced its financial results for 2018, including US$27.1 billion in total sales and US$10.7 billion in partner sales. Sales grew by 6% over 2017, and new sales again surpassed the US$1 billion mark.
John Snyder, President and CEO for BCD, said: “2018 was an exceptional year for BCD Travel on many levels. Our focus on partnership and innovation, designed to engage travelers and drive intelligent programs, continued to attract new business and enable current clients to extend the reach of their programs. It also helped us maintain our industry’s most consistent client retention rate over the past decade.”
BCD Travel’s continued strong performance is fueled by its competitive growth plan. In 2018, the company reinvested over 40% of earnings back into technology and infrastructure. A large portion of that investment is devoted to BCD’s digital platforms, including DecisionSource®, an analytics and intelligence platform for travel managers, and TripSource®, a powerful trip management platform.
In 2018, BCD expanded mobile booking capabilities through TripSourceGo, which allows business travelers to shop for and directly book hotel and air content through TripSource. The company added new features to TripSource, like voice-enabled services, receipt capture, biometric identification and “I’m safe” check-ins for travelers during a crisis. Today, TripSource has the highest App Store rating of any global travel management app. In 2018, BCD also launched SolutionSource®, a unique marketplace that gives clients access to authorized technology solutions.
As part of its growth strategy, BCD continues to invest in emerging markets. In 2018, the travel management company took a majority ownership stake in its operation in Colombia and recently announced the expansion of its global network in South Africa.
2018 also marked a year of recognition for BCD’s talent management initiatives and its strong sustainability commitment:
- BCD was named Most Admired Travel Management Companyfor the second year in a row and for the sixth time since 2009 by readers of The Beat, a leading industry publication.
- For the third year in a row, BCD was awarded a gold-level rating by EcoVadis, the world’s leading platform for corporate social responsibility ratings of global supply chains.
- John Snyder, President and CEO for BCD, was named “Responsible CEO of the Year: Private Company” by Corporate Responsibility Magazine.
- Forbes magazine named BCD to its 2018 list of America’s Best Employers For Women. The magazine has ranked BCD among America’s Best Employersthree times.
- BCD was also ranked 29th on a list of 100 companies noted for flexible work environments in 2018. The recognition marked the fourth time BCD made the list compiled by FlexJobs, an online job search resource for professionals seeking telecommute, part-time or other flexible jobs.
John Snyder said: “We will continue to invest heavily in technology, people and our global network. Our focus is to create value for our customers thanks to our digital platform strategy and the most talented people in the industry worldwide.”
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), 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.