Minneapolis, 1 May, 2020: CWT, the B2B4E travel management platform, announces a strong performance for 2019, with increases in transaction volumes, sales, and revenues.
2019 highlights for the year ended 31 December 2019 (with prior year comparatives):
Financial (in US$ Bn unless stated):
- Total transaction volume*: US$24.8 (2018: US$24.4)
- Contracted new sales**: US$1.8 (2018: US$1.7)
- Revenues***: US$1.53 (2018: US$1.49)
- Transactions* up 2.2 % to 63 million (2018: 62 million)
- Continued investment in technology
- RoomIt by CWT™: hotel attachment rate up 127bps
- myCWT app downloads averaged more than 800 times every day (2018: 650)
- Client retention rates high at 96% (2018: 96%)
CWT reported a strong financial performance for 2019, with transaction volume up 1.8%*, revenues up 2.2%***, and US$ 1.8Bn in contracted new sales (including joint ventures, excluding renewals).
In line with its aim of being the world’s leading Business-to-Business-for-Employees travel management platform, and, in keeping with the CWT 3.0 Strategy, CWT’s focus remains on customer experience, high growth opportunities, and simplifying business travel. CWT’s 2019 results clearly demonstrate the successful impact of achievements in these areas.
In addition to the main business travel offering, CWT operates four specialist divisions, all of which performed well in 2019:
- CWT Energy, Resources, & Marine provides travel management solutions for many of the world's leading companies in the oil & gas, mining, offshore, marine, and alternative energies industries.
- CWT Meetings & Events is CWT’s meeting & events division. It delivers innovative, high-quality projects for its clients across all industry sectors globally. Its creative know-how helps it deliver awe-inspiring events, and its logistics expertise guarantees professional meeting services, group travel, and compliance.
- CWT Solutions Group is the consultancy arm of CWT. Solutions Group drives value and growth to its clients’ businesses by helping them to extract more value from their travel and expense program through state-of-the-art technology and business travel knowhow. Its innovative approach focuses in four key areas to achieve true ROI: travel and expense strategy, data insights, supplier management, and travel services outsourcing.
- RoomIt by CWT™ is the hotel distribution division of CWT. Every day it matches travelers with the right room at the right rate, and every minute over 125 hotel rooms get booked. It also provides travelers with the amenities and loyalty programs they want, while helping organizations control their budget and improve travel oversight.
* On a constant currency basis, including joint ventures but not the Global Partner Network.
** Annualized contracted new sales, excluding renewals, but including joint ventures, with no comparative to prior year.
*** On a constant currency basis.
CWT is a Business-to-Business-for-Employees (B2B4E) travel management platform on which companies and governments rely to keep their people connected – anywhere, anytime, anyhow. Across six continents, we provide their employees with innovative technology and an efficient, safe and secure travel experience.