By Stuart Condie
SYDNEY–Corporate Travel Management secured an accommodation and travel-management contract with Australia’s government that the company said will contribute about 20% of fiscal 2024 revenue in its home region.
The ASX-listed travel-services provider said Monday that the contract commences July 1. It will run for an initial four years and includes options to extend for another three years.
Corporate Travel Management did not give financial details of the contract but said that the so-called Whole of Australian Government travel program was considered to be the largest travel program in Australia and New Zealand.
It said it will account for about 30% of the company’s fiscal 2024 total transaction value in Australia and New Zealand.
Corporate Travel Management recorded revenue of 290.9 million Australian dollars (US$194.35 million) off total transaction value of A$4.20 billion in the first half of its 2023 fiscal year, which ends June 30.
Write to Stuart Condie at [email protected]
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