Global travel management company CWT has reported a “significant” increase in transaction volumes, sales and revenues for 2018.
Total transaction volume for the year to 31 December reached US$25 billion, up 6.1 per cent over 2017. This included new sales worth $1.7 billion, with revenues increasing 4.9 per cent to $1.5 billion.
The company’s specialist CWT Meetings & Events division saw revenues increase 6 per cent in 2018.
Meanwhile, CWT Solutions Group, the firm’s consultancy arm, achieved 4.2 per cent revenue growth as it launched its AnswerIQ data insight, reporting and visualisation tool.
Hotel distribution business RoomIt by CWT saw particularly good results, booking an average of 30 rooms each minute and achieving an increase of 12.8 per cent in revenues.
CWT says it aims to be “the world’s leading business-to-business-for-employees travel management platform”, and in keeping with its CWT 3.0 strategy it says its focus is on customer experience, high growth opportunities, core execution and culture.
Kurt Ekert, president and CEO of CWT, commented: “I am pleased to be able to report on a great year for our business – our strategy gained further traction and we delivered good growth, while successfully implementing transformational changes across our company. Q4 2018 was our sixth successive quarter of traffic and revenue growth – and 2018 revenue, EBITDA and Adjusted Earnings before interest, taxes, depreciation and amortisation - a measure of profit used to value a company are all up comfortably on 2017.”