UTRECHT, Netherlands, Sept. 27, 2016 /PRNewswire/ -- BCD Travel has signed an agreement to take a majority ownership in its China and Hong Kong joint venture. The agreement gives BCD Travel controlling interest in a new Greater China market, one of the world's fastest growing economic regions. The agreement includes BCD Travel China and BCD Travel Hong Kong.
"This investment is the result of careful, long-term planning," said Greg O'Neil, BCD Travel's president of Asia Pacific. "As the majority stakeholder in our Greater China venture with our trusted partner MF Jebsen, we look forward to enhancing our product and service offerings in this key market."
The new BCD Travel Greater China will employ more than 470, operating from three offices in China and one in Hong Kong. With a population of 1.4 billion people and an average GDP growth of 6.8% per year, Greater China represents significant opportunity for growth for the company in the Asia-Pacific region.
"Our majority ownership of Greater China demonstrates our aggressive acquisition strategy," said John Snyder, president and CEO of BCD Travel. "We're growing in markets where demand for corporate travel services is increasing and where our clients want us to be. Greater China opens up new business opportunities for us in one of the world's largest markets."
About BCD Travel
BCD Travel helps companies make the most of what they spend on travel. For travelers, this means keeping them safe and productive, and equipping them to make good choices on the road. For travel and procurement managers, it means advising them on how to grow the value of their travel program. For executives, we ensure that the travel program supports company objectives. In short, we help our clients travel smart and achieve more. We make this happen in more than 100 countries with more than 11,000 creative, committed and experienced people. And it's how we maintain an industry-leading client-retention rate of 96%, with 2014 sales of US$24.2 billion. For more information, visit www.bcdtravel.com.
About BCD Group
BCD Group is a market leader in the travel industry. The privately owned company was founded in 1975 by John Fentener van Vlissingen and consists of BCD Travel (global corporate travel management), Travix (online travel: CheapTickets, Vliegwinkel, BudgetAir, Flugladen and Vayama), Park 'N Fly (off-airport parking) and joint ventures Parkmobile International (mobile parking applications) and AERTrade International (consolidating and fulfillment). BCD Group employs over 12,500 people and operates in 110 countries with total sales of US$ 25.6 billion, including US$ 10 billion in partner sales. For more information, visit www.bcdgroup.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/bcd-travel-invests-heavily-in-china-and-hong-kong-300334359.html
SOURCE BCD Travel