Steve Singh, a Seattle-based business leader, is leading a group of investors in the acquisition of Direct Travel Inc., a Colorado-based corporate travel management company with over $300 million in annual revenue. This move is part of Singh’s long-term goal of delivering a seamless travel experience to corporate travelers, a vision that originated during his time at Concur, the travel and expense management company he co-founded in 1993. Despite Concur being acquired by SAP in 2014, Singh continued to pursue this vision through various companies and investments.
Christal Bemont, former SAP Concur chief revenue officer, was named as the new CEO of Direct Travel, succeeding founder Ed Adams. Investors in the acquisition include Durable Capital Partners, Madrona, Top Tier Capital Partners, and Blackstone Credit & Insurance. Singh will serve as the executive chairman of Direct Travel, in addition to his roles at Spotnana, Center, and Troop. The goal is to use open architectures and APIs to allow for collaboration and improvement across solutions.
Direct Travel offers comprehensive corporate travel management services including travel booking, planning, data reporting, and policy compliance. Singh’s investor group chose Direct Travel due to its strong reputation for client service, focus on customer satisfaction, and potential for growth and profitability. With a 10% annual growth rate, Singh believes Direct Travel has the potential to reach 15-20% growth in the next year under Bemont’s leadership. The aim is to build the most admired and innovative travel management company globally.
Singh envisions the use of AI to transform the corporate travel experience through natural language booking, trip adjustments during disruptions, and cost reductions. Direct Travel plans to incorporate an AI “copilot” into its services. The company has locations worldwide and is expected to continue expanding. With four of the five key elements needed to reinvent the travel ecosystem in place, Singh believes the group will acquire the final piece within a year. The focus is on revamping hotel inventory and reservation management systems to create a more open and modern approach.
The acquisition of Direct Travel is part of Steve Singh’s ongoing efforts to provide a seamless travel experience for corporate travelers. With Christal Bemont as the new CEO, Direct Travel is poised for growth and innovation under the leadership of Singh and his investor group. Their vision includes utilizing AI technology and open architectures to enhance travel management solutions and improve the overall corporate travel experience. With four out of the five necessary components in place, the group is working towards completing the final piece to reinvent the travel ecosystem. Singh’s ultimate goal is to create the most admired and innovative travel management company globally, delivering on the vision of the “perfect trip.”
