CTM acquires 1000 Mile Travel Group Ltd, expanding the presence of independent consultants in the SME market in Australia and overseas
Their business model supports a growing workforce of travel experts who want to manage their own customer portfolio while leveraging the best in buying power and technology.
Business Travel Management (CTM, ASX:CTD) completed the acquisition of 1000 Mile Travel Group Ltdexpanding its focus on the business travel market through the Independent Consultant (IC) model.
Founded in 2015, 1000 Mile Travel is a network of independent travel experts specializing in business travel services for SMEs across Australia and the UK, offering cutting-edge travel management expertise. Their business model supports a growing workforce of travel experts who want to manage their own customer portfolio while leveraging the best in buying power and technology. The increased demand for travel expertise to support a rebounding travel market makes this an attractive opportunity for CTM.
Founder and Managing Director of CTM, Jamie Pherous said the acquisition is an exciting and complementary extension of CTM’s business travel services and provides 1000 Mile Travel agents and customers with the benefits of scale, buying power and access to content and intuitive CTM technology for greater value.
“1000 Mile Travel Group is a very successful company that has developed a unique value proposition for agents who want to not only manage their own small business portfolio from home, but also grow that portfolio and provide the services that corporate clients demand. We believe this acquisition will complement CTM’s strategic business travel offering while delivering significant benefits to 1000 Mile Travel’s network of independent agents and their customers.
“We have partnered with 1000 Mile Travel for nearly a year through the provision of our proprietary Lightning online booking technology. During this period, we have recognized a strong alignment between our businesses based on shared values, common technology systems and high growth objectives, and we believe – thanks to the leadership of 1000 Mile Travel – that we are well positioned to expand the 1000 Mile Travel model. in our largest markets in North America and the UK. We are delighted to be able to welcome 1000 Mile Travel employees, ICs and customers to the CTM family and look forward to working more together in the months to come.
Founder and Managing Director of 1000 Mile Travel, Ben Ross said the acquisition paves the way for significant growth for the company and its network of independent business owners at a pivotal time in the industry’s recovery. “Our company was created to meet the needs of the independent business travel business owner market, and our business model has gone from strength to strength. This model has never been in greater demand than in the post-pandemic environment, and we are excited to take the next step in our growth journey with CTM – a company that demonstrates the same values that have underpinned our own success, to through world-class service and innovation, and building meaningful relationships with staff, customers and within the travel industry.