UTRECHT, Sept 27, 2016 – BCD Travel has signed an agreement to take a majority ownership in its China and Hong Kong joint venture. The agreement gives BCD Travel controlling interest in a new Greater China market, one of the world’s fastest growing economic regions. The agreement includes BCD Travel China, BCD Travel Hong Kong and the BCD Meetings & Events (BCD M&E) operations in both markets.
“We have been working in this space for some time now, with our partner MF Jebsen, supporting Travel and M&E customers.” said Lisa Hopkins, BCD M&E managing director, Asia Pacific. “So we have a good understanding of the market nuances, and the people in place to take our business forward.”
Leading the business for BCD M&E Greater China will be Sam Lay, based in Shanghai, supported by industry veteran, Karen Cheng in Hong Kong.
“We are fortunate to have these two industry leaders already in place, especially in a market like Greater China which is still getting to grips with the Strategic Meetings Management process,” said Hopkins. “We can now direct our efforts into development, training and technology which will not only mean a greater service offering for customers, but exciting new opportunities for our people.”
The new BCD Travel and BCD M&E Greater China will employ more than 470, operating from three offices in China and one in Hong Kong. With a population of 1.4 billion people and an average GDP growth of 6.8% per year, Greater China represents significant opportunity for growth for the company in the Asia-Pacific region.
“This is another example of our strategic acquisition plan, coming swiftly after the recent purchase of Zibrant in the UK” said Scott Graf, BCD M&E Global President. “In addition to our global presence growth, the majority ownership will enable us to support more strategically a market which is looking for a robust, transparent way to manage meetings spend.”