2021 sales: $6.2 billion (estimated by Travel Weekly)*
Previous ranking: 5
Employees: 12,000
701 Carlson Parkway
Minneapolis, MN 55305
Phone: (800) 213-7295
Website Executives
PRESIDENT/CEO: Patrick Andersen
CFO: Bill Courtney
CHIEF CUSTOMER OFFICER: Nick Vournakis
CHIEF TRAVEL EXPERIENCE OFFICER: Derek Sharp
CHIEF TECHNOLOGY OFFICER: John Pelant
CHIEF LEGAL OFFICER: Lauren Aste
CHIEF HUMAN RESOURCES OFFICER: Catherine Maguire-Vielle
CHIEF STRATEGY OFFICER: Julia Kou
CHIEF PARTNERSHIP OFFICER: Brian Mogler
CHIEF GROWTH OFFICER: Belinda Hindmarsh
* CWT submitted a Power List survey but said it could not include 2021 sales data, so Travel Weekly estimated CWT's sales based on Power List sales figures submitted by comparable companies.
Company facts
* Privately held travel management company owned by Barings and other financial stakeholders.
* Offers trip management across a range of channels, including travel counselors, its proprietary web platform and mobile app and third-party booking tools.
2021 developments
* Executed a prepackaged Chapter 11 bankruptcy filing. CWT emerged with $350 million in new equity funding as part of a recapitalization agreement with existing financial stakeholders. The terms of the agreement included the elimination of almost $900 million in debt.
* Added features and functionality in CWT Travel Essentials, the publicly accessible search platform that provides information on applicable travel restrictions, procedures and requirements based on a traveler's profile and itinerary.
* Enhanced the MyCWT platform with new capabilities such as seat selection and the ability to search for hotels close to an office location.
* Launched the Intelligent Display recommendation engine on the RoomIt hotel platform, which uses machine learning to promote policy-compliant hotels and rates to travelers.
* Partnered with Tracker Software Technologies to offer clients greater visibility into specific tax and immigration compliance requirements for their travelers.
* Marked an NDC milestone with its first GDS-sourced NDC transaction via the Amadeus booking tool for American Airlines.
* Partnered with Delta Air Lines on a sustainable aviation fuel agreement.
* Launched carbon-footprint indicators on myCWT mobile and web.
Looking ahead
* Seeing a steady recovery in business travel, particularly in countries that are relaxing or eliminating testing and quarantine requirements. CWT is experiencing the highest levels of business travel since the pandemic began.
* As part of its recapitalization plan, CWT is investing $100 million in its MyCWT travel platform. Improvements in content and connectivity are being rolled out through September.