History will tell that Cox and Kings, a British travel company that was founded way back in 1758 is the pioneer travel management company that catered to wealthy clients at that time. In the UK, travel companies usually are grouped into 3: multiples, miniples and independent institutions. Multiples are companies that are recognized to cater to national chains. These are usually owned by international multinational corporations or group of companies. On the other hand, miniples are companies that cater to clients regionally. Independent companies are travel institutions that cater to a special market.
Usually, a travel management company is also a private institution or a public institution that offer travel assistance services. People who take charge in these companies make all necessary travel arrangements between the suppliers and consumers. In these situations, the suppliers are basically the airline companies, hotels, and package tour providers while the consumers are the people who pay for these services.
More often than not, travel companies secure a department to deal with the trip arrangements. Corporate travel is usually a sub-department of travel companies that has headquarters from other parts of the world. This department deals with leisure travellers or business travellers exclusively.
Basically, people in this department oftentimes manage strategic approaches when it comes to travel arrangements. They tend to maintain constant communication with the suppliers and consumers to create travel program on everyday basis and to ensure safety and security of travellers. They also take care of travel and expenses and credit card management.
It isn’t smart to compare a travel agency to a corporate travel company given that both have its own distinctive qualities. The former is all about travel management while the latter is a section of the travel company that’s more hands-on to business trips. What is common between the two is that both enjoy the benefit of getting commissions for every reservation of flights booked. Nonetheless, did you know that a certain Internet period threatened the business of travel companies because travellers started making travel negotiations on their own? But then again this field responded by creating online sites and now they are back in the market competitive as ever.