Australia's Corporate Travel Management said it completed the acquisition of a 75.1 percent stake in Asian TMC Westminster Travel.

CTM in November 2013 announced its intention to buy a controlling interest in Westminster, which has offices in Hong Kong, Singapore, China, Macau and Taiwan. A statement by CTM managing director Jamie Pherous indicated that the acquisition, along with operations in Australia, New Zealand and the United States, "will allow us to better leverage our combined buying power." It is unclear if or how a potential conflict would be resolved with Hogg Robinson Group, which holds a 51 percent interest in a joint venture with Westminster. In November, HRG chief executive David Radcliffe toldThe Beat that "Westminster Travel is contractually obliged not to compete against us in the corporate travel space in Hong Kong. If it wants to change that, it can come and talk to us." Officials from neither HRG nor CTM provided information about any resolution. In the United States, CTM's business include Denver's Polk Majestic Group (which rebranded to Corporate Travel Management) and TravelCorp, a corporate travel agency with operations centered in Texas and Louisiana.