TQ3 Travel Solutions
has firmly set out its 2005 commitment to delivering superior customer service through a robust and comprehensive global network by announcing three strategic acquisitions in the Pacific, Asian and South American regions. TQ3Navigant Travel Solutions, a 50% owner of TQ3 Travel Solutions, has agreed to purchase SYNERGI Travel Australia Pty Ltd., Australia’s 4 th largest Travel Management Company (TMC), and SYNERGI Travel New Zealand Ltd., New Zealand’s 2nd largest TMC.
These companies will join the TQ3 global network and will provide TQ3 with a strong presence in the key markets of Australia and New Zealand and the wider Pacific region. With a combined turnover of approximately USD$270m, SYNERGI Travel is headquartered in Sydney and Auckland, with offices in Melbourne, Canberra, Brisbane, Adelaide, Perth, Wellington, Palmerston North and Christchurch.
TQ3 has also announced the recent outright purchase of eTravel India, which has been successfully operating as TQ3 India since September 2001. With offices in Delhi, Mumbai, Bangalore, Chennai and Hyderabad, and plans to further expand into several other cities where TQ3 customers are based, TQ3 India has seen an impressive 30% year on year growth since its launch and generates annual turnover in excess of USD$30m. Following on from its activities within the Pacific and Asia regions, TQ3 has also announced a 25.1% acquisition in Koch Overseas de Mexico, one of Mexico’s leading corporate travel service providers. With over 50 years experience, Koch, which has successfully represented TQ3 within the South American market since March 2004 employs over 100 travel professionals in 10 locations throughout the Mexican Republic and generates an annual turnover of approximately USD$30m.
The latest acquisition news delivers a clear message that 2005 will see TQ3 continue to place emphasis on increasing ownership stake in its key operations around the world. In line with its global expansion strategy, the company will also continue to devote resources in the emerging markets, looking to replicate the success of its well-established and proven European and North American operating regions and build upon its strong global structure.
Commenting on the healthy start to the year, Marc Hildebrand, TQ3 Travel Solution’s President and CEO, says: “2005 will see TQ3 turn its sights on Asia, South America and the Pacific region in particular, whose potential for fast, comprehensive, flexible and creative solutions to travel management needs has yet to be fully realised.”
This is also good news for the company’s national and multinational customers as Toby Joseph, TQ3’s Global Chief Operating Officer adds: “TQ3 is committed to optimising the entire travel process for its customers wherever they conduct business across the globe. These acquisitions represent a good fit for TQ3 and we look forward to continued expansion in the year ahead.”