JPMorgan Chase to Acquire Frosch; CWT Sets Priorities for $100M Platform Investment

 

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February 23, 2022 JPMorgan Chase to Acquire Frosch By Michael B. Baker JPMorgan Chase & Co. has reached an agreement to acquire travel management company Frosch, according to a report from BTN sister publication The Beat. The move marks the latest in several acquisitions of travel services companies by major financial institutions, which are working to expand their own offerings beyond traditional banking and payment services. Keep Reading CWT Sets Priorities for $100M Platform Investment Sustainable travel initiatives, improving connectivity and increasing content top CWT's list of goals for the $100 million investment that stemmed from the travel management company's recapitalization last year, CWT announced. Keep Reading TripActions to Acquire German TMC Comtravo TripActions has reached an agreement to acquire Berlin-based travel management company Comtravo, further boosting its technology offerings and footprint in Europe. Keep Reading UATP Stays Focused on Unused Ticket Management Q&A with UATP's Ralph Kaiser As travel buyers continue to grapple with unused flight credits lingering from the early days of the pandemic, UATP has played a key role in developing a platform to help buyers and airlines manage those credits. UATP president, CEO and chairman Ralph Kaiser spoke with BTN's Michael B. Baker to provide an update on unused ticket management. Keep Reading Tripbam Tweaks RFP Tool to Include Hotel Global Sales Org. Smart Sourcing, first launched in 2019, targeted individual property deals. Now, a toggle button allows buyers to choose to include above-property sales teams in the process. Keep Reading I think there's a really good chance, on a run-rate basis, that we will end up back at or above where we were in 2019 before the year is out." - Hilton Worldwide's   Christopher Nassetta Read More United Hires Another Former Marriott Sales Vet United Airlines has hired Andrea Robertson as managing director of worldwide sales for the western U.S. region, the airline told BTN. Keep Reading JetBlue Promotes Weiner to Oversee Corp. Sales JetBlue has promoted Jonathan Weiner to VP of sales and revenue management, which includes responsibility for corporate sales and distribution, the carrier announced Wednesday. Keep Reading AA, Gol Complete Codeshare, Investment Deal American Airlines has finalized a deal in which it will invest $200 million in Brazilian low-cost carrier Gol and develop an exclusive codesharing agreement with the carrier. Keep Reading Frontier Agrees to Buy Spirit in $2.9B Deal The effect on corporate business could be minor, as the two leisure-oriented airlines touch a small amount of business travel. Keep Reading Citi, HRS Report 'Big Pipeline' For New Partnership Q&A with Citi's Trudy Curtis and HRS' Kurt Knackstedt Corporate lodging platform HRS in recent months announced a global partnership to integrate Citi's virtual payment product into its travel booking process. Citi's Trudy Curtis and HRS' Kurt Knackstedt spoke to BTN's Michael B. Baker about the new partnership. Keep Reading Survey: Most Finance Execs Expect 2022 Corp. Travel 'Boom' Most finance managers and business travelers alike expect a "boom" in business travel by the end of this year, though business travelers are a bit more confident in that boom, according to a recent survey commissioned by SAP Concur. Keep Reading Report: Q4 Continued Boom Time for U.S. Extended-Stay The extended stay segment beats Q4 2020 performance by a long shot, according to The Highland Group, and edges out Q4 2019 numbers in some key metrics. Keep Reading USTA: U.S. in Pandemic Lost $730B in Travel Spending Domestic U.S leisure travel has surged over the past year,  but without the return of business and international inbound travel there remains "a tremendous amount of ground to make up," U.S. Travel Association president and CEO Roger Dow said. Keep Reading Hertz Names Former Goldman Sachs Exec Scherr CEO Car rental company Hertz has named former Goldman Sachs CFO Stephen Scherr its new CEO, effective Feb. 28, the company announced.  Keep Reading Finnair Unveils New Business-Class, Premium-Economy Products Finnair has unveiled new business-class seating and a new premium-economy cabin that will take to the skies onboard its fleet of long-haul aircraft this spring. Keep Reading Q4 Lodging Industry Results Hilton: Resilient SME Business Travel Lifts Q4 Hyatt Reports Q4 and Full Year Losses Amid Peer Gains Marriott Sees Slow but Improving Corp. Travel Performance IHG Eyes Biz Travel Through Lens of Workplace Changes Infrastructure Business Travel Boosts Wyndham Sunny Outlook Opens Horizon for Choice Hotels to Invest  Q4 Travel Co. Results Sabre: Corp. Travel Rebounds Following Omicron-Fueled Plunge T&T Acquisition Buoys CTM Revenue Amid Omicron Travel Decline Air Canada: 'Slow' but Steady Demand Progress in February Air France-KLM: 'Steady Rebound' of Corp. Traffic in 2021 Avis Budget Sets Q4 Revenue High But Notes Corp. Travel 'Dearth' Uber for Business Q4 Bookings Surpass 2019 Record Lyft: Q4 Airport Rides Up Again but Omicron Hurt Keep Reading HotelPlanner.com SPAC Merger Called Off  Read More BCD M&E Promotes Rabideau Amid Restructuring  Read More Visa Specialist CIBT Acquires Tech Platform  Read More Vista Global Agrees to Acquire Air Hamburg  Read More Wheels Up Acquires Alante Air Charter  Read More ATPI Acquires Australian TMC The Travel Authority  Read More Flight Centre Appoints Corporate Traveler Head  Read More Ethiopian Airlines Names New U.S. Regional Director  Read More Extended Stay America Names Juceam CEO  Read More Hopin: Layoffs Knock Some Glitter Off the Unicorn  Read More NYC Uber, Lyft Drivers to See Pay Hike in March  Read More Virtual Event Platforms on VC Fast Track  Read More The Changing Dynamics of Meeting Planning and Sourcing Meeting Professionals, when it comes to sourcing, negotiating and selecting a venue to produce an event, are your needs being met? 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