(NORFOLK, VA) September 14, 2006 – As part of an ongoing strategy to continue its growth in the travel market, CI Travel – American Express (CI) today announced it acquired a local travel company, Nicholas Travel. This is the culmination of almost a full year of analysis and negotiations between the two major Hampton Roads companies and is in line with current trends in the travel industry.“Our two companies share a similar vision and philosophy,” says Kevin J. McElroy, President & COO of CI Travel – American Express. “This merger is part of several actions we have or will be taking to continue the strong growth we have experienced during the past decade.”
Current clients of Nicholas Travel will continue to be served by their established travel consultants and they will also benefit from the enhanced services CI Travel can offer as part of the American Express travel network, as well as from enhanced technology which allows companies to either book online or with a travel consultant. Both methods are backed up by state-of-the-art quality control and accounting systems.
Under the terms of the agreement, Nicholas Travel will adopt the CI Travel name and will continue to operate in its current location on Volvo Parkway in Chesapeake. Chris Nicholas, President of Nicholas Travel, will be the Vice President of Corporate Sales for CI Travel. Nicholas will also be heading up an enhanced corporate meeting and incentives department. Since CI is an employee-owned company, the current staff from Nicholas Travel will also become employee-owners.
CI Travel is an employee-owned, $170 million company with 34 years of experience providing high quality travel services. In addition to leisure travel, the company also manages the travel for corporate and government accounts, including all NASA Flight and Research Centers across the country, Hickam Air Force Base in Hawaii and the US Securities and Exchange Commission (SEC). Headquartered in Norfolk, CI Travel has 212 employee-owners in 32 locations in 10 states and Washington D.C. Both Travel Weekly and Business Travel News have recognized CI Travel as one of the top travel companies in the country. CI Travel has also won the annual “Best of Hampton Roads” awards numerous times. Its web site is www.citravel.com.
Nicholas Travel is a $9 million travel agency located in Chesapeake, VA. They primarily manage travel for corporations such as Jefferson Lab, Yupo America Corporation, SRA International and New Dominion Pictures. The company also has a meeting and incentives department and handles leisure travel under the name Grand Destinations.
