History
The group has existed in its present form since 1994, the result of a 50%/50% merger from two large travel agency ventures. The Carlson side was originally from the Ask Mr. Foster Travel Agency chain, which had been rebranded to Carlson Travel Network a decade earlier. The Wagonlit part came from the travel shop business of Compagnie Internationale des Wagons-Lits. After the merger, Accor maintained its 50% interest up until 2006. Accor sold its shares for in a transaction worth €500m, thereby placing a value of €1bn on CWT at the time)
The company is jointly owned by Carlson 55%, a privately held corporation in the hotel, marketing, restaurant, and travel industries; and by JPMorgan Chase 45%.
In 2011, Carlson Leisure's Macy's Travel were rebranded as Carlson Wagonlit Travel; the stores were located in former Marshall Field's department stores and were known as Marshall Field's Travel before the stores were purchased by Macy's; Marshall Field's was owned by Twin Cities based Target Corporation, similar to Carlson Wagonlit Travel co-owner Carlson Companies. Macy's Travel had joined Carlson Wagonlit Travel in 2006 when TQ3Navigant was purchased by CWT.
Read more about this topic: Carlson Wagonlit Travel
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