Strategic Meetings Summit London, 26 September,
September 29 2022, Kimpton Fitzroy London
Friday 30 September 2022, JW Marriott Grosvenor
TMCs must continue to invest in technology and adapt working practices or face a bleak future, according to former ABTA chairman and current director of EFR Travel, John McEwan.
McEwan told BBT the majority of TMCs are going through a “period of consolidation” that will continue “for a number of years”.
He was speaking to BBT after completing a deal with EFR Travel to purchase Cassis Travel Services (CTS).
“Good quality TMCs will continue to play an important role in the industry and will remain crucial in the world of managed travel,” McEwan said.
“Those companies that continue to invest in the latest technologies and search for new ways of working will have a bright future, however the ones that work in the same way they have been over the past five or six years will struggle.”
Mcewan, who was chief executive of Advantage for eight years before stepping down in April last year, added: “I expect to see fewer TMCs growing as the sector continues down this path of consolidation.”
Speaking about the deal McEwan said: “We are delighted to have purchased CTS Limited. It is an established business, with an excellent client base and very experienced and loyal staff.
“We believe that bringing CTS into the EFR Group will provide great synergies and a broader platform from which to grow the business further.”