Montrose Travel Sold to CTM
Host agency Montrose Travel has been sold to Corporate Travel Management (CTM), making CTM one of the 12 largest travel companies in the United States. CTM, which entered the market three years ago, now will have a California hub in addition to the other 19 cities out of which it operates.
CTM is expected to be valued at $750 million next year.
Montrose has been in business for 60 years. Its 230 employees, some of whom have been with Montrose for 20 years, will remain with CTM.
The 20-year-old Australian company has been growing steadily in the U.S. market through acquisitions. In 2012 it bought R&A Travel, in 2013 it bought Travelcorp, and in 2014 it bought USTravel, Avia International Travel and Diplomat Travel.
“We are a unique company with strong family values. For us, company culture and family orientation were of paramount importance to our decision to join CTM,” said MTravel Hosting Services president Andi McClure-Mysza.
