A deal by Australia's CTM to acquire a controlling
interest in Asian travel management company Westminster,
finalized this month, provided HRG the opportunity to discuss purchasing the 49 percent of
the Hong Kong JV that had been held by Westminster. CTM in November
announced plans to acquire a 75.1 percent stake in Westminster, which has offices in
Hong Kong, Singapore, China, Macau and Taiwan. Shortly after, HRG CEO David
Radcliffe told
The Beat that "Westminster Travel is contractually
obliged not to compete against us in the corporate travel space in Hong
Kong." A statement from Radcliffe on Friday indicated that the deal to
make the HRG Hong Kong operation wholly owned "reinforces our commitment
to the Asia/Pacific markets."