Travel Leaders Group acquired Mexico-based Corporate Travel
Services for an undisclosed sum. CTS counts 600 employees and 300 corporate
clients, and business travel represents 65 percent of the agency's $350 million
in annual sales. CTS also operates in the meetings, incentive and luxury
leisure segments.
CTS will "be aligned strategically with Travel Leaders
Corporate as a parallel partner," Travel Leaders Corporate president Gabe
Rizzi wrote in an internal memo. The CTS brand will stay intact to preserve the
agency's stature as "the largest independent TMC in Mexico with a
recognized brand," he noted. The alignment with Travel Leaders Group's
corporate travel brand will help "expand our service delivery capabilities
for our corporate clients that have operations in Latin America and vice
versa," wrote Rizzi.
Before the deal, CTS participated in the Egencia
Global Alliance network. Now, Travel Leaders Corporate "will supplant Egencia
as the U.S. partner for CTS," noted Rizzi. "Likewise, CTS will serve
as our partner in Mexico moving forward."