Navigant to maintain TQ3 branding and worldwide network

January 09, 2006 |

Navigant International provided an update regarding the previously announced agreement with TQ3 Travel Solutions Management Holding GmbH to terminate the joint venture agreement under which they co-managed TQ3 Travel Solutions GmbH.

Navigant International, Inc., the second largest provider of corporate travel management services in North America based on airline tickets sold, provided an update on Friday regarding the previously announced agreement with TQ3 Travel Solutions Management Holding GmbH, to terminate the joint venture agreement under which they co-managed TQ3 Travel Solutions GmbH. TQ3 Travel Solutions Management Holding GmbH also transferred its interest in TQ3 to Navigant, making Navigant the sole owner of TQ3.

TUI AG announced on January 3, 2006 that it agreed to sell its business travel unit including Management Holding to another travel management company.

Navigant, through TQ3, will be responsible for the relationship with more than 60 international TQ3 Travel Solutions network offices, and intends to establish additional affiliations in select countries in Asia and Europe. Navigant believes its existing wholly owned global locations provide a strong foundation for the global expansion of the network. These locations include Australia, Canada, New Zealand and the United Kingdom - where Navigant ranks among the largest travel management companies in each of those countries. In addition, Navigant’s offices in Belgium, Brazil and France have brought those locations the customer-centric technology for which Navigant is known.

Edward S. Adams, chairman and chief executive officer of Navigant said, “Our interest in TQ3 succeeded in broadening Navigant’s worldwide base of operations, customers and international relationships. Even with the agreement to end the joint venture, we retain a substantial worldwide network and a global brand. We expect ‘business as usual’ in terms of worldwide customer service and support. Navigant and TQ3 Travel Solutions will continue to emphasize technological innovation, in-depth market knowledge and experience, and a global business strategy. We look forward to continuing to provide our multinational clients with the quality service they have come to expect.”

Mr. Adams added, “We have a great deal of respect for the management and associates of Management Holding and their leading role in the travel industry. We wish them success in their future endeavors.”

Robert C. Griffith, Navigant’s chief financial officer and chief operating officer added, “Our dedicated team of professionals, led by Mike Premo, Senior Vice President / Global Network, are committed to managing this transition and maintaining business continuity for all of our customers throughout the process. Mike is an experienced travel industry executive, having most recently managed TQ3’s extensive South American licensee network. He brings more than 25 years of travel industry experience with a primary focus on operations and customer service/supplier relationships to his new role as SVP of the Global Network.

“Mike will be working closely with representatives from each region throughout the world, including Ross Irving, Regional President of the Asia/Pacific region, and Richard Furness, Regional President of the Europe, Middle East and Africa region, with a view to see that our global licensee and multinational customer relationships remain successful.”

“Licensees can be assured that Navigant intends to use its global leverage to provide them access to competitive rates and buying power - both for themselves and their clients,” said Mike Premo. “The company will provide proven systems and products that we believe will help licensees enhance their competitive position in the global market. We expect this transition will be an efficient, seamless process and our focus remains on delivering solid and effective solutions to our global customers.”