CWT Sets Priorities for $100M Platform Investment

Sustainable travel initiatives, improving connectivity and increasing content top CWT’s list of goals for the $100 million investment that stemmed from the travel management company’s recapitalization last year, CWT announced Thursday.

CWT plans to launch new capabilities throughout 2022 as it is “laser-focused on honing our digital-first proposition,” according to CWT EVP and chief technology officer John Pelant. Among the first, set to be introduced this quarter, will be carbon-footprint indicators for the myCWT platform.

CWT indicated that about two-thirds of its global clientele has said sustainability goals have become a heightened priority since the start of the Covid-19 pandemic, so the TMC intends to invest to help “travelers and travel managers achieve more purposeful travel and travel program.”

A second area of focus will be creating “a seamless and productive digital experience” for travelers and travel managers on the myCWT platform. CWT already announced some platform enhancements in December, including a flight seat selection tool that displays fare types and cabin class on a seat map, a tool to help employees find hotels close to their employers’ or clients’ office locations and easier access to Covid-19 guidelines and restrictions information.

CWT also will invest in content to “expand the breadth of travel choice and trip options,” according to CWT.

CWT announced the $100 million investment in product development in November, after it exited Chapter 11 bankruptcy following a prepacked filing a day earlier. The filing accelerated the closing of a recapitalization deal that cuts CWT’s $1.5 billion debt burden in half raises nearly $350 million in new equity capital.

Michael B. Baker  www.businesstravelnews.com