Definitions

wagonlit

Carlson Wagonlit Travel

Carlson Wagonlit Travel (CWT) is a large corporate travel management company.

It operates in more than 150 countries and territories, with 22,000 employees. The company has $25.5 billion in annual sales (including joint ventures) in 2007, from 42 million transactions.

History

The group has existed in its present form since 1994, the result of a 50%/50% merger from two large travel agency ventures. The Carlson side was originally from the Ask Mr. Foster Travel Agency chain, which had been rebranded to Carlson Travel Network a decade earlier. The Wagonlit part came from the travel shop business of Compagnie Internationale des Wagons-Lits. After the merger, Accor maintained its 50% interest up until 2006. Accor sold its shares for in a transaction worth €500m, thereby placing a value of €1bn on CWT at the time)

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