Australia-based Corporate Travel Management (CTM) has completed its acquisition of independent travel network, 1000 Mile Travel Group, the company announced on Friday.
The deal will expand the travel management company’s independent consultant footprint in the corporate SME market and is CTM’s fourth acquisition in the past two years, following the recent purchase of Helloworld Corporate in April 2022 and Travel and Transport in 2020.
CTM founder and managing director Jamie Pherous said the acquisition is a ‘complementary extension’ to the company’s corporate travel services, and that he intends to expand the 1000 Mile Travel model into the UK and North America.
“1000 Mile Travel Group is a highly successful business that has crafted a unique value proposition for those agents wanting to not only manage their own SME portfolio from home, but also grow that portfolio and provide services demanded by corporate clients,” he said.
1000 Mile Travel founder and managing director Ben Ross added that the acquisition paves the way for significant growth at a 'pivotal' time in the industry’s recovery.
“Our business was established to meet the needs of the independent corporate travel business owner market, and our business model has grown from strength to strength. That model has never been more in demand than it is in the post-pandemic environment, and we’re excited to take the next step of our growth journey with CTM," he said.
The acquisition follows an almost year-long partnership between the two companies through the provision of CTM’s Lightning online booking tool.