Flight Centre invests in another travel tech business
Flight Centre has made a strategic investment in the business travel market, snapping up 25% of Washington DC-based Upside Travel for an undisclosed sum.
The investment will make Flight Centre the largest shareholder in the group, which was launched two years ago by Jay Walker, who is also the founder of holiday deals website Priceline.
Upside offers a corporate tech solution targeting small and medium-sized businesses with a no-fee, no-contract travel management service.
It will continue to operate under its own brand while tapping Flight Centre Group’s supplier relationships and global reach.
The companies will cooperate on various distribution initiatives.
"We have been impressed by the capability and flexibility of Upside’s technology and team to improve the business traveller experience," said Dean Smith, president of Flight Centre Group Americas.
Walker said: "Not only does FLT’s global scale and experience immediately make our product more complete, but FLT’s people and expertise also make us smarter."
Last September, Flight Centre bought Umapped, another travel technology business.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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