Global travel management platform CWT today reported a strong performance for 2018, with a significant increase in transaction volumes, sales, and revenues.
“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,” said Kurt Ekert, president and CEO of CWT.
”Q4 2018 was our sixth successive quarter of traffic and revenue growth – and 2018 revenue, EBITDA and Adjusted EBITDA are all up comfortably on 2017.”
Infographic capturing CWT’s 2018 performance.
CWT reported a strong financial performance for 2018, with transaction volume up 6.1% to US$25bn, revenues up 4.9% to US$1.5bn, and US$ 1.7Bn in contracted new sales, driven by growth in North America and Asia Pacific.
In addition to the main business travel offering, CWT operates four specialist divisions, all of which performed well last year. CWT Meetings & Events reported a 6% increase in revenue, CWT Solutions, its consultancy arm, achieved 4.2% revenue growth; and CWT Energy, Resources & Marine saw stable revenues.
RoomIt by CWT, the hotel distribution division which it launched in 2017 to match travellers with rooms at the right rate, amenities and loyalty programmes, saw a sizeable revenue increase of 12.8%.