CWT snaps up Spanish agency Viajes Lepanto

SPAIN - The global business travel agency buys MICE agency Viajes Lepanto for an undisclosed sum

The deal, which is the latest in a string of European and US acquisitions, will strengthen CWT Spain's position in the Spanish meetings market and enhance its business travel offering.

The deal also brings eight new business premises into its network, giving CWT a total of 170 in Spain. Viajes Lepanto, which has offices in Madrid, Barcelona and Valencia has an annual sales volume of around EUR16m.

Of that total figure, 62% is attributed to business travel and the remaining 38% to meetings and events.

Javier Cabello, general manager of Viajes Lepanto, will continue in his role and report into Marino Faccini, CWT executive vice-president of Spain, the Mediterranean and Latin America.

Earlier this year CWT acquired Viajes Mapfre, the in-house agency of Mapfre Group, a Spanish insurance company. Over the past 12 months it has also purchased Sweden's Ark Travel and US-based Piedmont Travel and Traveltime Services.

Faccini said: "The acquisition of Viajes Lepanto reflects the importance of strategic acquisitions in our global development plan. Our commitment to maintaining the service Viajes Lepanto clients have always known will benefit our collective stakeholders."

CWT Spain has more than 1,000 employees across the country. Last year the company's total sales volume including business travel, MICE, leisure travel and inbound services was around EUR58m.

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