CWT (company)

For other uses of CWT, see CWT (disambiguation).

CWT

Formerly	Carlson Wagonlit Travel (1994 - 17th Feb. 2019)
Company type	Privately held company
Industry	Travel management company
Founded	1994;32 years ago (1994)
Headquarters	Minneapolis, Minnesota, United States
Area served	145 countries
Key people	Patrick Andersen, President & CEO
Services	Corporate travel management, Event management
Revenue	US$1.5 billion
Number of employees	18,000
Website	www.mycwt.com
Footnotes /references [1]

CWT (formerly Carlson Wagonlit Travel) is a travel management company that manages business travel, meetings, incentives, conferencing, exhibitions, and handles event management.

Headquartered in Minneapolis, Minnesota, the firm reported US$23 billion in total transaction volume in 2018. ^[1] It is ranked 5th on the list of top earning travel companies published by Travel Weekly. ^[2]

History

CWT has existed in its present form since 1994, the result of a merger of two large travel agencies: the Carlson Travel Network (originally called the Ask Mr. Foster Travel Agency) and the travel agency division of Compagnie Internationale des Wagons-Lits, founded by Georges Nagelmackers in 1872 in Belgium and acquired by Accor in 1991. ^[3]

On April 27, 2006, Accor announced the sale of its 50% interest in CWT: 5% to Carlson and 45% to One Equity Partners, an affiliate of JP Morgan Chase. ^[4] On June 22, 2014, Carlson, which owned a 55% stake in CWT, agreed to acquire the 45% interest in CWT held by JPMorgan Chase. ^{[5] [6] [7]}

On February 19, 2019, two years after launching RoomIt by CWT, ^{[8] [9]} dedicated to hotel distribution, the company rebranded as CWT. ^[10] On July 31, 2020, the Register reported that CWT was the victim of a ransomware incident a week earlier, in which they paid US$4.5 million. ^[11]

In 2022, CWT had a capital injection which resulted in Carlson becoming a minority shareholder. ^[12]

On March 25, 2024, rival American Express Global Business Travel (Amex GBT) announced its intention to buy CWT for $570 million. ^[13] In January 2025, the US Department of Justice sued to block the acquisition. ^[14]

On September 2, 2025, Amex GBT announced that it had completed its purchase of CWT. ^[15]

References

1. "CWT at a glance".
2. "Power List 2019". Travel Weekly.
3. Biesiada, Jamie (February 21, 2019). "CWT scrubs Carlson and Wagonlit from name". Travel Weekly.
4. "Accor Divests Stake in Carlson Wagonlit Travel" (Press release). Hospitality Net. 27 April 2006.
5. "Carlson Announces It Will Take Full Ownership of Carlson Wagonlit Travel" (Press release). Business Wire. June 22, 2014.
6. Phelps, David (March 5, 2015). "Carlson board sharpens its focus". Minneapolis Star Tribune .
7. King, Danny (June 23, 2014). "Carlson to take full ownership of Carlson Wagonlit Travel". Travel Weekly.
8. "Carlson Wagonlit Travel launches new division dedicated to hotels – RoomIt by CWT". CWT (Press release). July 17, 2017. Archived from the original on October 6, 2019. Retrieved October 6, 2019.
9. Chaturvedi, Anumeha (July 17, 2017). "Carlson Wagonlit Travel launches new division RoomIt dedicated to hotels". The Times of India .
10. "CWT is the New Name in Digital Business Travel, Hotel Distribution, and Meetings & Events". CWT (Press release). February 18, 2019. Archived from the original on February 18, 2019. Retrieved February 21, 2019.
11. "First rule of Ransomware Club is do not pay the ransom, but it looks like Carlson Wagonlit Travel didn't get the memo". The Register (Press release). July 31, 2020.
12. "Carlson Family Gives up Control of Namesake Agency CWT in Refinancing Deal". 15 September 2021.
13. "Amex GBT To Acquire CWT" (Press release). March 25, 2024. Retrieved March 26, 2024.
14. Hamilton, Katherine (January 10, 2025). "DOJ Sues to Block Global Business Travel Group's $570 Million Deal for CWT Holdings". The Wall Street Journal.
15. "Amex GBT Completes Acquisition of CWT". CWT. Retrieved 2025-09-24.

External links

• Official website