JEDDAH, 12 May 2006 — Two global leaders in business travel management - Carlson Wagonlit Travel (CWT) and Navigant International, Inc. doing business as TQ3Navigant (Navigant) - have signed a definitive agreement whereby CWT will acquire Navigant, a press release said yesterday.
This development highlights the strength of CWT’s integrated, global strategy and its ability in partnership with Jeddah-based ACE Travel to offer the local and multinational clients of Saudi Arabia a coherent, worldwide organization; effective account management; consolidated data; and integrated products, services and solutions, according to Ibrahim A. Musallam, president and CEO of SKAB, the holding company of ACE Travel Group.
CWT President & CEO Hubert Joly said: “Navigant is an important acquisition for CWT that greatly strengthens our competitive position in North America and Asia Pacific. ACE Travel Group is the exclusive partner of CWT in Saudi Arabia and has been in business for over 50 years and operates more than 30 branches and implants Kingdomwide, serving over 500 local and multinational companies and institutions in Saudi Arabia.
This year, ACE Travel has acquired a self contained fully furnished luxury resort, Les Sablons, with 107 housing units on the Red Sea coast in Jeddah and its Holding Company SKAB has leading hotel properties in Saudi Arabia, France, Switzerland, United Kingdom and USA managed under the global brands, such as Sheraton, Accor and Moevenpick.
ACE Travel President & CEO Adnan Kaddoura said: “Our mission is to constantly endeavor to offer global travel service standards with latest technology to our discerning individual and corporate clients.
