2023 sales: $9 billion
Previous ranking: 10
Employees: 3,206 full-time
Level 9, 180 Ann St.
Brisbane, QLD 4000, Australia
U.S. headquarters:
2120 S. 72nd St.
Omaha, NE 06124
Phone: (800) 228 2545
Website Executives
MANAGING DIRECTOR: Jamie Pherous
CEO, NORTH AMERICA: Kevin O'Malley
CHIEF COMMERCIAL OFFICER, NORTH AMERICA: Maureen Brady
COO, NORTH AMERICA: Anita Salvatore
CHIEF TECHNOLOGY OFFICER, NORTH AMERICA: Joel Bailey
CHIEF LEGAL OFFICER, NORTH AMERICA: Lisa Nasser
CFO, NORTH AMERICA: Renee Bubke
EVP, BUSINESS DEVELOPMENT, NORTH AMERICA: Mary Ellen Hess
COMPANY FACTS
* Publicly held company that spans corporate, events, leisure, loyalty and wholesale travel.
* Operates the Radius Travel Network, with more than 120 affiliate agencies in more than 100 countries. Affiliate buying power is estimated at $35 billion.
* Sales: 70% business, 5% leisure, 20% other.
* A member of Virtuoso, Radius Travel Network.
2023 DEVELOPMENTS
* Continued investment in its global Smart Technology product suite, including enhancement to Lightning (its online booking tool), CTM Portal, CTM Mobile and CTM Data Hub. Most new clients (70% among new clients in North America) chose to adopt Lightning.
* Introduced Scout, an intuitive travel chatbot.
* Maintained a 97% client retention rate in FY23, which the company attributes to ongoing investment in agent desktop technology and intelligent service delivery platforms that underpin agent-client interactions.
* CTM's Radius Travel Network's new partners included Satguru, supporting programs in sub-Saharan and Northern Africa, and Obzor Putovanja, supporting programs across Croatia and the rest of the Adriatic region.
* Company remained debt-free; a share buy-back program began in November.
LOOKING AHEAD
* Kevin O'Malley plans to step down as CEO, North America on Aug. 30. He will be succeeded by Anita Salvatore, currently the company's COO, North America.
* Assisting clients in navigating airline NDC initiatives, particularly in North America, with a focus on policy modifications, cost containment and online/offline programming consultation. The company's hotel content engine, Sleep Space, is being rolled out globally.
* Proprietary robotics will be leveraged to automate frequent services and transaction fulfillment. Artificial intelligence or machine learning will manage up to 50% of nonrevenue-impacting transactions over the next five years, which will enable the company to prioritize agent time and expertise to support high-impact customer requests.
* Marking 30 years in business, having grown from a two-person startup.
* Company expects sustainability considerations and inflationary pressures to continue influencing traveler choice regarding flights and accommodations. Travel suppliers will keep adapting their offerings to align with evolving traveler behaviors, and travel buyers will evolve their programs to meet environmental and corporate obligations.
* CTM reports that its customers globally are exhibiting a persistent inclination toward increased travel in the coming year, with customer meetings, tradeshows, conferences and internal meetings projected to be the primary catalysts for growth in travel programs. Early 2024 activity also shows positive recovery signals in lagging global markets (e.g., the greater China Bay area).