Business Travel Executive, February 2020

Australia based Corporate Travel Management on Dec 24 announced its intent to acquire Corporate Travel Planners a Texas based travel management company focused on higher education Similar to our experience in the government sector the university sector travel activity tends to be resilient in economic downturns according to CTM CTM agreed to pay 18 million plus another 18 million contingent on achieving profit targets CTP principal Christy Prescott will stay on According to its website CTP is a Travel Leaders Group affiliate serving more than 50 universities It is a preferred partner of SAP Concur and also supports users of the Sabre GetThere online self booking tool For meetings management CTP partners with Cvent and Groupize It provides reporting through Cornerstone iBank While it may offer some reliability travel management at universities can be challenging Tenured professors often dont follow policy and enforcement is scarce Students and athletic teams have unique needs and tapping into research grants and using state funds can be tricky Other players specializing in higher ed travel include Anthony Travel and Flight Centres Campus Travel USA as well as several predominantly corporate TMCs CTM has become a global player through both organic growth and acquisitions As it grows in more geographies the TMC joins others like Egencia FCM Travel Solutions and Travel and Transport in presenting corporate buyers a multinational alternative to the big three of American Express Global Business Travel BCD Travel and CWT CTM first entered the US market in 2012 when it bought R A Travel also known as Polk Majestic In subsequent years it acquired Avia Travel Diplomat Travel Montrose Travel Travelcorp Travizon Travel and USTravel CTM Agrees To Buy Texas TMC Corporate Travel Planners The Internal Revenue Service set the 2020 standard reimbursement rate for driving an automobile during business travel at 575 cents per mile Thats down a half cent from last year Companies can instead determine their own mileage reimbursement rates In areas where gas prices are lower than average for example the standard rate may be too high Sometimes employees may overstate miles traveled perhaps inadvertently Some third parties help with these calculations Boston based Motus which assists the IRS in determining the standard rate claims GPS mileage tracking eliminates overpayments from self reported calculations Motus in 2018 acquired Runzheimer International which advises the IRS on mileage rates Motus also supports SAP Concurs mobile app based Drive mileage tracking and reimbursement service IRS Slightly Reduces Standard But Optional Mileage Reimbursement 22 Business Travel Executive askBTE com February 2020 TC TWO CENTS Two Cents From The Company Dime