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RADIUS Receives Investments to Fuel GrowthJuly 13, 2011 By: George Dooley Travel Agent
RADIUS, a leading global travel management companies, reports that it has received a multi-million dollar global investment from shareholders in Asia Pacific, Europe, and the Americas. These major investors include Cox and Kings, Ltd (India), Portman Travel (UK), and Travel and Transport (US). This capital infusion will help RADIUS rescale its infrastructure, which is in direct response to the tremendous recent growth of their client portfolio.
“Multinational companies are increasingly interested in consolidating their corporate travel programs. RADIUS’ global coverage and rooted regional presence make us a solid choice to partner with,” said Chris Vasiliou, President and CEO. “Our operating model provides market- leading content and local customer service and support with global technology solutions and account management. The RADIUS model has resonated beyond our expectations. This investment will allow us to take full advantage of the current market opportunity. Our intention is to add significant global sales and support resources as well as expand our technology offering and data management and reporting capabilities.”
RADIUS has grown more than 200 percent in the last 3 years. Over the last 18 months it has welcomed leading agencies from the Americas, APAC and EMEA to the network as it continues to strategically expand its service offering.
“This is an important milestone for RADIUS, our shareholders, and customers,” said William H. Tech, CEO of Travel and Transport and Chairman of RADIUS. “We strongly believe in the RADIUS brand and its unique structure, and we will continue to invest in the organization to improve our services. This recapitalization is vital to help us achieve our goal to become the world’s leading corporate travel management company for global accounts.”
RADIUS has combined annual sales of more than $21 billion US. RADIUS is comprised of 90 travel agencies in 80 countries with more than 3,300 locations. RADIUS is headquartered in the United States with regional offices servicing the Americas, EMEA and Asia Pacific.