Corporate Travel Management acquires Hong Kong based travel giant

Studio shot of unrecognisable people shaking hands against a white background

Corporate Travel Management (CTM) has acquired Hong Kong-based Lotus Travel Group.

That’s right, folks, CTM is looking to take over Greater China by acquiring 75.1 per cent of one of their largest travel companies.

giphy (2)

Though their intentions are probably not as sinister as the above gif implies.

CTM’s Asian partners, Ever Prestige Investments, will acquire the remaining 24.9 per cent.

CTM said in a statement on the ASX they made the acquisition with an aim to become the largest player in Hong Kong servicing Greater China.

“This creates optimum scale to best leverage our technology, support costs and enhance our excellent supplier relationships, across a wider base to best support long-term growth,” the company said in a statement.

They also said the similarities between the CTM and Lotus contributed to the decision, with both companies being market leaders in Hong Kong who share a similar culture and business mix across corporate, wholesale (B2B), MICE and events.

“Lotus is a long-standing and highly regarded travel leader in Hong Kong,” said CTM managing director Jamie Pherous.

“They meet our strict acquisition criteria, and like CTM Asia, are leaders in travel in the region and enjoy high client and staff retention. Our Asian senior leadership teams are very familiar with each other.

“Together we can become a leader in the Greater China market and will be well positioned to enhance our client offering, technology and expertise in this market.”

Chairman and CEO of Lotus, Partick Kong said: “We have watched the CTM Asia leadership team for many years and have watched CTM Asia build a very strong growth business based on highly personalised service delivery with best-in-class technology solutions.”

“We consider that CTM is an excellent fit to enhance our service offering to both current and future clients while providing exciting new career opportunities for our employees that comes through growth.”

This acquisition will be effective as of 2 October 2018.

Latest News

  • Cruise
  • Food & Beverage

Oceania Cruises sets new standard for onboard dining: one chef for every 10 guests

Oceania Cruises, renowned for The Finest Cuisine at Sea, has set a new standard for onboard dining with an exquisite new menu evolution in The Grand Dining Room. Launching on its newest 1,200-guest ship, Allura, in July 2025, the reimagined menus introduce over 270 brand-new recipes, from curated Signature Eggs Benedict breakfast selection to a chic French […]

  • Cruise

MSC Cruises announces MSC World Asia Webinar

MSC Cruises has announced a webinar series tailored for travel partners focusing on MSC Cruises’ newest ship, MSC World Asia, set to launch in 2026. The webinar is scheduled over two sessions on Wednesday 12 February 2025. Bronwyn Knight, MSC Cruises NSW/QLD/ACT BDM, will host an 8:30am (AEST) session while Aaron Eilers, MSC Cruises Queensland BDM, […]

  • Tour Operators

Clayoquot Wilderness Lodge celebrates 25th anniversary with new adventures

Baillie Lodges has announced that it is celebrating the 25th anniversary of its Clayoquot Wilderness Lodge with a range of new helicopter experiences for the 2025 season. Kicking off on 22 May, the 2025 season promises five months of generously inclusive luxury adventures for guests in nature’s own playground where black bears forage shoreside, whales, […]

  • Events

Longitude 131° reveals dates for 2025 Artists-in-Residence with Ernabella Arts

Longitude 131° at Uluru-Kata Tjuta has announced the 2025 dates for its popular Artists-in-Residence program in partnership with First Nations Anangu artists at Ernabella Arts. Longitude 131° holds a privileged, long-term working partnership with the team at Ernabella Arts, which includes commissioning artworks and ceramics, providing funding support for a ceramics tutor, the Artists-in-Residence program […]

  • Hotels
  • Luxury

Global celebrates balmy aperitivo night in Melbourne with Leading Hotels of the World

Global International Travel partnered with Leading Hotels of the World to welcome clients to a season opening “Inizio di Stagione Aperitivo”, a cocktail evening designed to evoke the charm of a Roman rooftop at its Melbourne HQ. Dedicated to celebrating Global’s esteemed clientele, the evening showcased the privileges offered through its VITA Partnership with Leading […]

  • Destinations
  • Events

Outback Queensland presents Desert Champions Way: Outback Camel Trail – The Diamantina

Adventure seekers can set their sights on Outback Queensland with the month-long Desert Champions Way: Outback Camel Trail – The Diamantina festival is set for 5 to 26 July. Whether cheering on the camels, dancing under the stunning desert sky, kicking up red dust, or soaking up the rich cameleer history, there’s something for every […]