Strategic Meetings Summit London, 26 September,
September 29 2022, Kimpton Fitzroy London
Friday 30 September 2022, JW Marriott Grosvenor
BCD Travel has acquired a minority stake in its partner TMC in Dubai.
The Dutch-based business travel giant said it had taken the minority shareholding in BCD Travel LLC, which is based in the emirate and has been BCD’s partner in the region since 2006.
BCD Travel LLC has annual sales of $57 million and the majority of the company will continue to be owned by Khalid Al Rostamani, vice chairman of AW Rostamani Group.
No details were given about the size of the stake being acquired or how much is being paid for the shareholding.
Joop Drechsel, CEO of BCD Travel, said: “Over the past several years, the Middle East has been a consistently strong economic performer.
“Our investment in Dubai enhances our ability to support companies and travellers in this dynamic region. It’s a natural outgrowth of our long partnership with a solid company that already services many of our top multinational customers.”
BCD Travel, which is part of BCD Holdings, operates in more than 95 countries, with $20.8 billion in total global sales per year and employs more than 11,000 people.
John Snyder, BCD Travel’s global president and chief operating officer, added: “Our strengthened partnership with BCD Travel LLC signals our commitment to providing the levels of service buyers expect in every region key to their success.”