BTN Europe presents an overview of business travel and MICE predictions for this year
29 October 2020, 1030 - 1630 CET
The 3rd annual Strategic Meetings Summit Europe is
ExCeL London - 22-23 June 2021
Egencia is continuing to take market share from other TMCs after recording worldwide sales growth of 36.1 per cent in the first half of the year.
The Expedia-owned business travel specialist had global gross sales worth $2.3 billion between January and June, compared to $1.7 billion for the same period last year. Expedia said that Egencia was boosted by a rise in the sale of flights during the last three months.
Revenue at Egencia was up by an even higher margin (46.6 per cent) from $129 million in 2012 to $184 million for this year.
Egencia’s rate of sales growth during the second quarter was 26.7 per cent, which was down from a rise of 48 per cent in the first three months of 2013.
Mark Okerstrom, chief financial officer of parent company Expedia, said: “Overall, we are quite pleased with the performance at Egencia, as it continues to take share in the global corporate travel market.”
Egencia, which bills itself as the world’s fifth largest TMC, has benefited from signing deals to manage travel for clients such as estate agent Jones Lang La Salle and car manufacturer Volvo.
Among recent developments, the TMC has introduced Egencia Autobook in the US and Canada. This online tool automatically books tickets and accommodation once they have been approved by the employee’s company.
Egencia said this innovation reduces the “risk of price increases as well as the loss of available seats, cars or rooms”.