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A Comprehensive Approach to EFFECTIVE TRAVEL MANAGEMENT   2009
Business Travel Today
    Business travel continues to play an important part in building relationships and driving growth.
    There is simply no better substitute for a firm handshake or an encouraging pat on the back.
    Nevertheless, business travel is under closer scrutiny than ever before. Value has become the
    recurring theme.


    Every business trip must generate concrete results in keeping with well-defined objectives.
    Consequently, travel programs are continuously monitored and ongoing program optimization
    an absolute.


    Greater savings are only part of the mandate. Service and security remain important imperatives
    and decreasing travel’s impact on the environment is on everybody’s “Must Do” list. Furthermore,
    today’s business travel market is highly complex and constantly changing.


    How then can organizations today effectively manage their travel programs?


    One sure way is by working with a travel management company who truly understands their
    needs and challenges and is consistently on top of market trends and best practices.


    Carlson Wagonlit Travel (CWT) is just that company. As a global leader specializing in business
    travel management, we are focused on helping clients derive greater value from their travel
    programs. To that end, we have the people, processes, products and services our clients need
    to optimize their business travel.


    CWT knows that making the most of business travel can mean big returns for companies and
    their travelers.




2
Contents

About Carlson Wagonlit Travel .................................................................4            Corporate Social Responsibility ...........................................................18

Message from Douglas Anderson, President & CEO.......................5                                      Core Values Guiding CWT ......................................................................20

Eight Key Levers to Effective Travel Management ...........................6                                 CWT Travel Management Institute.......................................................21

CWT Products and Services .....................................................................8            The CWT Executive Team .......................................................................22

         Traveler & Transaction Services .................................................10
                                                                                                            Worldwide Presence.................................................................................23
         Program Optimization..................................................................12

         Safety & Security ............................................................................14

         Meetings & Events.........................................................................16




       Carlson Wagonlit Travel is committed to promoting environmental sustainability. This document
       was printed on 100% recycled paper. We used no-glue binding for cleaner production.




                                                                                                                                                                                                                    3
About Carlson Wagonlit Travel
    Carlson Wagonlit Travel is a global leader specializing in business travel management. The company is dedicated to helping companies of all sizes, as well as government
    institutions and non-governmental organizations, optimize their travel programs and provide best-in-class service and assistance to travelers.

    By leveraging the talents and know-how of its people and providing leading-edge technology, CWT helps clients around the world drive savings while delivering service
    and enhancing security and sustainability.




                                                                                                                                CWT sales volume
                                                                                                                         Actual at current exchange rates,
     CWT at a glance*                                                                                                  including joint ventures (US$ billion)

        Present in more than 150 countries and territories
        22,000 employees                                                                                                                                                 27.8
                                                                                                                                                 26.0*
        A diverse client portfolio of large corporations, small and mid-size
        companies, and government institutions. Clients include more than
        half of the Fortune Global 100 companies.                                                                        19.6
        55 million on- and offline transactions




                                                                                               US$ billion
        US$27.8 billion in sales generated by wholly owned operations
        and joint ventures




                                                                                                                                                                                          U
        A global leader:
           Number one in Europe, Asia Pacific and Latin America
           Number two in North America

     * 2008 figures



                                                                                                                         2006                    2007                    2008


                                                                                                             * 2007 traffic restated for additional hotel and car volume in North America


4
Message from Douglas Anderson
President & CEO

                   At Carlson Wagonlit Travel, we are proud of our success. But we also know that being an industry leader brings tremendous responsibility. Meeting
                   the needs of our clients with integrity and know-how is a deep-rooted conviction we all share.

                   We at CWT are privileged to work with clients in all business sectors as well as government and non-governmental organizations. Although many
                   of our clients are among the biggest and best-known corporations in the world, we take great pride in successfully delivering effective travel
                   management to small and mid-size companies as well. Working hand in hand with our clients to truly understand their business needs and help
                   them realize their objectives through flexible solutions is what sets CWT apart.

CWT has a multicultural team of people working around the world. Their strong sense of engagement and their expertise have contributed significantly to our clients’
satisfaction and loyalty. Our job is made easier thanks to the industry suppliers and business partners with whom we work. Like us, they are committed to client care
and excellence.

Our shareholders are global leaders in their own right. Their unwavering support has helped CWT pave the way in a fast-changing, complex environment. By being
innovative and resourceful in all aspects of our business, we have continued to deliver added value to our clients, employees and shareholders alike.

Looking ahead, CWT is well positioned to maintain its global leadership and successfully address the challenges before us. Our strategy is focused and our priorities
clear. In addition, we offer the finest products and services in our industry. In a world without boundaries, we have a vast geographic presence and hard-working people
who are among the best in their field. Our history of longstanding client relationships also bodes well for the future. But we are never complacent. Every day, we seek
higher levels of performance that will benefit not only our clients but our industry at large.

This brochure provides a glimpse into CWT and its activity. I trust those of you who know us well will find yourselves in familiar surroundings. If you have not yet
discovered our company, I hope this information will be of relevance and encourage you to get to know us better.




              “Every day, we seek higher levels of performance that will benefit
                           our clients and the industry at large.
                                                                 ”                                                                                                       5
Eight Key Levers to Effective Travel Management
    In a complex, fast-changing environment, Carlson Wagonlit Travel works closely with
    clients to help them identify their priorities and optimize their travel programs. This means
    greater value in terms of safety, service and security for companies and their travelers.
    Sustainability is also a key factor in the equation. Today, by mitigating business travel’s
    impact on the environment, companies can help shape the future.

    The eight key levers to effective travel management are at the heart of every
    well-managed travel program. They provide a robust framework from which to work
    and succeed. To that end, the CWT Travel Management Institute conducts in-depth
    research into the underlying principles of effective travel management and identifies best
    practices companies can implement with the help of CWT.




6
Provide the right services and assistance to travelers and                              Further consolidate travel programs. By bringing the
                    optimize transaction processing. Online booking tools for                               components of a travel program together on a local, regional or
                    simple transactions, coupled with expert travel counselors at the                       global level, companies can save up to 20 percent of total travel
                    point of sale for complex itineraries and special services, drive                       spend and enhance service and security. A standardized travel
                    savings and increase traveler satisfaction and productivity.                            policy, consistent booking and fulfillment processes, and
                                                                                                            consolidated sourcing that includes just one travel management
                    Tackle hotel spend. Representing 30-40 percent of a total travel                        company are keys to success.
                    budget, hotel spend is often less carefully managed than air spend.
                    Establishing and closely monitoring a preferred hotel program that                      Address security and corporate social responsibility.
                    travelers adhere to provides greater leverage for negotiations.                         A company’s duty of care applies to employees as well as the
                    Security is also enhanced when travelers comply with a well-                            environment in which they operate. For starters, this means
                    designed program that meets their business needs.                                       successfully managing the risks associated with business travel,
                                                                                                            practicing responsible procurement and reducing their carbon
                    Continue to drive air and ground transportation savings.                                footprint.
                    Optimized sourcing and changes in traveler behavior can lead to
                    greater savings. Negotiating with a limited number of preferred                         Integrate meetings and events into the travel program.
                    airlines and requiring travelers to book restricted fares at least two                  Meetings and events can represent 25-40 percent of a total travel
                    weeks in advance are two important means. Integrating rail into a                       and entertainment budget. By integrating them into their travel
                    travel program can also bring tangible results in terms of savings,                     programs and applying the principles of effective travel
                    traveler comfort and convenience, and reduced carbon dioxide                            management, companies can better control and optimize their
                    emissions. A well thought-out ground transportation program takes                       spend.
                    car rental, limousine, chauffer-driven “black car” and taxi services
                    into account too.                                                                       Develop actionable dashboards and performance measures.
                                                                                                            Without relevant performance indicators and consolidated data
                    Increase policy compliance and optimize demand                                          delivered in a timely, accurate, easy-to-use fashion, it is impossible to
                    management. Together, a well-designed travel policy and strict                          evaluate a travel program and implement corrective measures where
                    compliance can generate savings of on average 20 percent of total                       needed.
                    travel spend.1 Mandates must be clear and compliance strictly
                    enforced in five main areas: advance air booking, restricted
                    airfares, preferred suppliers, traveler comfort (authorized air
                    class/hotel category), and preferred booking channels. Demand
                    management offers another way to control costs by aligning travel
                    with business needs. To that end, some trips may be replaced with
                    alternatives such as teleconferencing to reach the same objectives.
                    Adjusting the travel policy, increasing compliance and monitoring
                    performance indicators also help optimize the quantity, frequency
                    and specifications of travel for better demand management.


1
    Playing by the Rules: Optimizing Travel Policy and Compliance, CWT Travel Management Institute, 2008.

                                                                                                                                                                                        7
CWT Products and Services
               CWT offers flexible solutions that generate value for companies of all sizes. Working
               closely with clients to fully understand their goals, CWT provides products and services
               that balance and meet the needs of travel managers, business travelers, procurement
               professionals and C-level executives. CWT leverages its global footprint and innovative
               technology with best-in-class tools to help clients around the world maximize the
               effectiveness and value of their travel programs while providing consistent and
               dependable service to their travelers. As new trends emerge and clients’ needs
               change, CWT uses its expertise to constantly evolve its products to provide innovative,
               results-driven solutions.




8
CWT products and services meet your varied needs




                                                   9
With more than 18,000 skillfully trained counselors, CWT offers best-in-class traveler services, booking assistance and optimized transaction processing.

     CWT recognizes that clients have different travel management needs. Therefore,             driving online adoption and effectively managing complex offline
     our services can be adapted to ensure your specific requirements are fulfilled              bookings. Booking through CWT also provides efficient access to the most
     successfully. No matter the request, CWT can help companies identify and                  competitive hotel rates—negotiated by you and/or by us. Additional traveler
     implement service configurations that increase savings and enhance service to              services—mobile alerts, VIP assistance, customer satisfaction monitoring and
     best meet your travelers’ needs. For example, using a CWT Fulfillment Center can           around-the-clock emergency support—allow travelers to be more productive and
     maximize automation and simplify delivery for any type of transaction.                    improve their overall experience.

     CWT also offers clients access to all relevant content—scheduling, fares, room
     rates and availability—and the most competitive pricing so they can accomplish
     their objectives in accordance with their travel policy. CWT further assists clients in




10
Powerful tools for travelers
  CWT Portal is the central gateway to all CWT online travel
 services, providing travelers with 24/7 access to booking
 services, profile data, security news and alerts, destination
                                                                Success story:
 intelligence, health information and traveler tools.           Service configuration change saves $1 million
                                                                in 3 months
 CWT Portrait is a Web-based profile management tool that
 allows travelers and travel arrangers to create and update     A leading, global biotechnology company with $80 million in travel
 traveler profiles 24/7, 365 days a year to ensure accurate      spend wanted to streamline operational delivery to reduce costs and
 bookings, precise and informative reporting, and               enhance service quality. CWT worked with the client to implement an
 personalized interactions.                                     outsourced CWT Full Service Center, resulting in savings of $1 million
                                                                in the first three months, improved data consolidation and increased
 Online booking tools can significantly reduce travel spend      customer satisfaction.
 and increase policy compliance. CWT offers seamless
 integration of leading, third-party online booking tools as
 well as proprietary tools in specific markets.




                                                                                                                                         11
CWT offers an array of products and services to help clients optimize their travel programs and increase savings.

     The foundation of program optimization is the ability to capture and consolidate        and execution of action plans to improve specific areas. The CWT diagnostic
     data. CWT works with clients to ensure the data collected is timely, relevant and       approach is objective and quantitative, offering fact-based, actionable data clients
     accurate. Data is consolidated in a worldwide global data warehouse, ensuring           can use to make measurable improvements to their travel programs.
     clients have the global, regional or country-level perspective they need. This
     information is accessible through an industry-leading, global travel management         The program optimization team includes more than 1,000 professionals around
     portal, available 24/7. The innovative interface allows clients to customize their      the world who are responsible for analyzing travel programs and implementing
     reporting display and track progress toward key company goals easily and                program optimization strategies. This diverse team of experts includes
     graphically and share this information with principal stakeholders.                     program managers and data consolidation experts. Additionally, the consultants of
                                                                                             the CWT Solutions Group manage customized engagements in air, hotel and
     CWT helps clients assess the maturity of their current travel programs in each of the   ground transportation supplier sourcing as well as technology, booking, fulfillment,
     eight key levers to effective travel management and follow-up with the development       meetings and events, and change management.



12
Demand management support
CWT demand management tools give clients a wide
spectrum of options to apply systemic controls that affect the
quantity, frequency and specifications of travel, enabling them
to manage costs without compromising business objectives.

   The CWT Program Management Center is an award-
   winning, centralized travel management interface that
   helps clients track compliance and trip purpose by putting     Success story:
   all of the performance metrics and information needed—
   at a global, regional or local level—in one place. CWT         Better-fit program improves hotel compliance
   Agency+Card Reporting, an enhanced reporting option,
   allows clients to compare travel booking data with credit      A global pharmaceutical group with $23 million in hotel spend
   card charges to identify and address discrepancies quickly.    wanted to improve compliance with its preferred hotels policy.
                                                                  Working closely with the CWT Solutions Group, they audited
                                                                  transactions to identify ways to improve the hotel program’s fit
   CWT Policy Builder helps clients create a travel policy from   with traveler needs, identified potential new preferred suppliers,
   scratch and assess, benchmark and improve existing             and improved service at the point-of-sale, resulting in a
   policies to support company initiatives such as demand         20 percent increase in compliance.
   management.

   CWT Policy Messenger, winner of a 2009 Innovation
   Award at the Business Travel Show in London, enables
   travel managers to automate out-of-policy messages to
   targeted travelers and optimize compliance.




                                                                                                                                      13
CWT’s safety offering keeps clients informed of travel risks and helps them locate and assist travelers quickly in a crisis.

     To help avoid situations that may adversely affect traveler safety, CWT provides     For advanced security needs, CWT works with leading, third-party risk-
     clients and their travelers with relevant information to increase awareness of      management and healthcare firms to offer enhanced services designed to
     risks before, during and after a business trip.                                     monitor risk to personnel and facilities, protect travelers and respond to emergency
                                                                                         incidents 24/7.
     When incidents occur, CWT’s thorough crisis communications process includes
     effective communication, as well as response and recovery procedures, to ensure
     clients are informed and travelers well protected. CWT immediately alerts clients
     of a travel incident by telephone, email and/or SMS. Travel managers can then
     access accurate, actionable passenger data provided by CWT to quickly identify
     and track affected travelers, delivering assistance where needed.




14
Helping improve security
 CWT Guardian, our global suite of safety and security
 services, offers automated travel alerts, destination
 intelligence, traveler tracking and traveler support to help
 clients proactively avoid or effectively manage risk.

 CWT Policy Messenger allows travel managers and heads          Success story:
 of security to automatically alert travelers going to high-
 risk destinations.
                                                                Enhancing traveler tracking

                                                                A financial services company with $38 million in travel spend
 Enhanced safety and security services are also available,      needed a partner who could monitor global incidents and send
 including trip-specific intelligence reports, enhanced          immediate notification in case of an emergency to help
 traveler tracking, direct communication with affected           improve traveler safety. CWT provided a complete solution via
 travelers, health information and other services designed      its safety and security offering CWT Guardian, which includes
 to mitigate risk.                                              travel alerts, destination intelligence, traveler tracking and
                                                                traveler support. In less than an hour after breaking news of a
                                                                plane crash, CWT alerted the client so they could contact an
                                                                affected traveler who had been sent to the hospital and ensure
                                                                continued care and safety.




                                                                                                                                  15
CWT offers a range of services to help integrate meetings and events with the travel program to optimize savings, enhance process control, improve
     risk management and enrich attendee experiences.

     CWT integrates best practices in sourcing, logistics and specialized              CWT Events can help you develop event concepts that meet your business
     consulting to deliver a comprehensive M&E program that optimizes spend,           objectives, then plan, fulfill and execute events that accomplish those goals
     savings and return on meeting objectives. Taking control of meetings and events   with market-specific event services tailored to your particular needs. They also
     can help companies save 10-30 percent in direct costs while improving meeting     handle administrative and financial tasks so meeting owners can focus on the
     and event services and return on investment.                                      event’s success and deliver return on their investment.

     CWT Meetings offers a range of services to professionalize meeting planning        CWT’s comprehensive, post-meeting reporting package consolidates data from
     and execution, as a supplement to in-house processes, providing expertise as      multiple sources to measure the financial impact and effectiveness of each meeting.
     needed in specific areas or delivering an end-to-end solution for your planners    In addition, data consolidation enables clients to leverage combined M&E and
     and attendees. In addition, professionals from CWT Meetings & Events Solutions    business travel spend for more effective negotiations. CWT also has best-in-class
     can help you gather and analyze the data and information you need to build        technology enablers to facilitate efficient processes and provide the meeting tools
     a best-in-class M&E program and improve it year after year.                       and services planners need. Furthermore, traveler tracking and risk management
                                                                                       are enhanced when M&E participants book through CWT.
16
Unbeatable strength
 With CWT Meetings Strategy Plus, companies can
 strategically strengthen their M&E program by leveraging
 both customized consulting and professional meeting
 planning and execution. Our M&E professionals can assess
 and evaluate your current program, including the sourcing
 strategy and meetings policy. They can then design and
 implement a program that meets your unique M&E program
 objectives and provide ongoing analysis and actionable
 recommendations for continued improvement.

                                                             Success story:
                                                             Consolidated M&E approach drives savings

                                                             A high-performance network solutions company with $15 million in annual M&E spend
                                                             wanted to optimize their M&E investment and improve processes to avoid penalties
                                                             while increasing benefits to attendees and the company. CWT negotiated hotel
                                                             contracts to gain more value from suppliers, including better indemnification and
                                                             cancellation clauses, while implementing tools and process improvements to create a
                                                             more organized approach to meeting planning. The client saved an average of 26
                                                             percent on CWT-managed meetings and events while improving its registration
                                                             process, supplier negotiations and planning.




                                                                                                                                                   17
Corporate Social Responsibility
     As a leading provider of travel management products and services worldwide,
     CWT is addressing issues of Corporate Social Responsibility (CSR) by helping                   Success story:
     clients reduce the impact of their travel program on the environment.                          Government agency increases sustainable
                                                                                                    travel awareness
     CWT actively and effectively helps clients build sustainable travel programs by enabling
     travel management professionals and travelers to make well-informed decisions to reduce
     their carbon footprint. As a result of these efforts, we have won the coveted Icarus award      A government agency that supervises environmental issues
     from the Institute of Travel and Meetings in the U.K. for two years in a row. With CWT,        and has $2.1 million in travel spend wanted to improve
     clients can strategically calculate, measure and manage emissions to align their travel        environmental reporting capabilities and traveler decision
     programs with their overall CSR goals.                                                         making within its own travel program. With help from CWT, the
                                                                                                    agency implemented an online booking tool that features the
     At the time of booking, travelers can choose the transportation option that best meets their   CWT Carbon Calculator, significantly increasing travelers’
     needs by calculating and comparing the carbon impact of their trip on the environment.         awareness of the environmental impact of their travel choices.
     CWT’s post-trip emissions reporting lets travel managers measure the carbon footprint of       As a result, rail is now the preferred travel option for trips of less
     their corporate travel programs to track trends and evaluate progress toward reduction.        than three hours.
     CWT also provides advanced emissions management services through The CarbonNeutral
     Company, one of the world’s leading carbon offset and climate consulting companies.
     Key services include robust greenhouse gas assessments, carbon footprint analyses,
     access to approved carbon offset projects and carbon-neutral travel certification.




18
Examples of CWT’s commitment to
Our commitment to helping clients practice sustainable travel is part of
                                                                                   CSR around the world
greater company-wide CSR initiatives.                                               Diversity: All CWT employees in Asia Pacific go through a workplace
                                                                                    diversity awareness training program. In Germany, CWT was the first
An important part of our mission is to foster the development and well-being of     company in the travel industry to sign the Charter of Diversity of German
our employees, ensure productive relationships with all of our stakeholders,        Companies under the patronage of the federal chancellor. CWT North
protect the environment, and be good citizens in the communities where we           America’s Diversity Council works with human resources to recruit and
operate.
                                                                                    promote a diverse workforce, while our Military & Government Markets
                                                                                    division has helped employ disabled veterans in partnership with the U.S.
Principles of ethical and safe conduct, coupled with our core values and a sense
of corporate citizenship, provide the framework that guides CWT both in its         Department of Veteran Affairs.
business activities and its CSR initiatives.                                        Environment: Many CWT offices are dedicated to recycling, using
                                                                                    alternative energy suppliers, and purchasing office furniture endorsed by
Specifically, CWT has made diversity, the environment and community                  forest sustainability councils.
involvement the focus of its CSR program.
                                                                                    Community involvement: Various CWT offices in North America support
                                                                                    more than 75 different charities and community organizations through
                                                                                    fundraising, volunteering and in-kind donations. Employees of CWT China
                                                                                    assisted the China Earthquake Relief Fund. CWT Australia raised funds
                                                                                    through donations and wellness challenge events for the Starlight Children’s
                                                                                    Foundation, dedicated to lifting the spirits of seriously ill and hospitalized
                                                                                    children and their families.




                                                                                                                                                                     19
Core Values Guiding CWT
     Six core values underlie the collective spirit and code of conduct at CWT. Employees are guided by these principles as they build new relationships,
     sustain existing ones, make determined choices and carry out their professional responsibilities.




     CUSTOMER CARE                                           COMMITMENT TO                                           CULTURAL DIVERSITY
     Putting the needs of clients first and                   EXCELLENCE                                              Fostering respect and a team spirit
     striving to continuously provide an                     Continuously seeking higher levels                      in the workplace, embracing and
     outstanding level of service                            of performance                                          leveraging the multicultural essence
                                                                                                                     of the company, and providing equal
                                                                                                                     opportunities to talented individuals




     RELIABILITY                                             ENTREPRENEURIAL                                         INTEGRITY
     Being a dependable and trustworthy                      SPIRIT                                                  Building productive, longstanding
     business partner, committed to                          Approaching new challenges with                         relationships by being truthful and
     offering industry-leading products                       creativity, resourcefulness and agility,                promoting open communication
     and services                                            reacting quickly and effectively to
                                                             provide innovative solutions

20
CWT Travel Management Institute
The CWT Travel Management Institute conducts in-depth research into effective travel management practices to help clients worldwide derive
the greatest value from their travel program.

Drawing on the global resources of CWT, the institute provides a regular flow of business intelligence and best practices offering actionable insights into travel
management. To that end, the global edition of CWT Vision presents timely overviews and interpretations of industry trends.

Recent research published by the CWT Travel Management Institute includes:

    Travel Management Priorities for 2009
    Effective Travel Management: Eight Key Levers to Optimize a Travel Program
    Room for Savings: Optimizing Hotel Spend
    Playing by the Rules: Optimizing Travel Policy and Compliance
    Global Horizons: Consolidating a Travel Program
    Toward Excellence in Online Booking




                                                                                                                                Global edition




Annual report of travel managers’         Research publications
priorities
                                                                                                                                                                   21
The CWT Executive Team




     Douglas Anderson               Håkan Ericsson               Jerry Hogan                 Marc Karako                  Mike Koetting               Jack O’Neill
     President &                    President, Europe,           VP & General                Executive Vice President &   Chief Operating Officer,      President, North America
     Chief Executive Officer          Middle East, Africa          Counsel                     Chief Financial Officer        North America
                                    and Latin America




     Berthold Trenkel                Philippe Vinay              Cathy Voss                  Martin Warner                Andrew Winterton
     Executive Vice President,       Executive Vice President,   Executive Vice President,   Chief Operating Officer,       Executive Vice President,
     Traveler & Transaction Services Human Resources             Global Program Solutions    Asia Pacific                  Global Supplier
                                                                                                                          Management




        Carlson Wagonlit Travel has two shareholders. Carlson, a global hotel, marketing,
        restaurant and travel company, holds 55 percent of CWT shares.
        One Equity Partners, a private equity affiliate of JPMorgan Chase & Co., holds
        the remaining 45 percent.




22
Worldwide Presence
                                                                          Japan              Romania
                                                                          Jordan             Russia
                                                                          Kazakhstan         Rwanda
                                                                          Kenya              Saudi Arabia
                                                                          Kosovo             Senegal
                                                                          Kuwait             Serbia
                                                                          Kyrgystan          Seychelles
                                                                          Latvia             Sierra Leone
                                                                          Lebanon            Singapore
                                                                          Libya              Slovakia
                                                                          Lithuania          Slovenia
                                                                          Luxembourg         South Africa
                                                                          Macedonia          South Korea
                                                                          Madagascar         Spain
                                                                          Malawi             Sri Lanka
                                                                          Malaysia           Sudan
                                                                          Mali               Sweden
                                                                          Malta              Switzerland
                                                                          Martinique         Syria
                                                                          Mauritania         Taiwan
               Wholly Owned/Joint Ventures/Minority Holdings (43)         Mauritius          Tajikistan
               Partners (114)                                             Mexico             Tanzania
                                                                          Modolva            Thailand
                                                                          Monaco             Togo
                                                                          Mongolia           Trinidad and Tobago
Afghanistan    Burundi                                 France             Montenegro         Tunisia
Albania        Cambodia                                French Guiana      Morocco            Turkey
Algeria        Cameroon                                French Polynesia   Mozambique         Uganda
Angola         Canada                                  Gabon              Nepal              Ukraine
Argentina      Chile                                   Gambia             Netherlands        United Arab Emirates
Armenia        China                                   Georgia            New Caledonia      United Kingdom
Australia      Colombia                                Germany            New Zealand        United States
Austria        Congo, Democratic Republic of the       Ghana              Nicaragua          Uruguay
Azerbaijan     Congo, Republic of the                  Greece             Niger              Uzbekistan
Bahrain        Cook Islands                            Guadeloupe         Nigeria            Vanuatu
Bangladesh     Costa Rica                              Guatemala          Norway             Venezuela
Barbados       Côte d'Ivoire                           Guinea             Oman               Vietnam
Belarus        Croatia                                 Haiti              Pakistan           Yemen
Belgium        Cyprus                                  Honduras           Panama             Zambia
Belize         Czech Republic                          Hong Kong          Papua New Guinea   Zimbabwe
Benin          Denmark                                 Hungary            Paraguay
Bhutan         Dominican Republic                      Iceland            Peru
Bolivia        Ecuador                                 India              Philippines
Botswana       Egypt                                   Indonesia          Poland
Brazil         El Salvador                             Ireland            Portugal
Brunei         Estonia                                 Israel             Puerto Rico
Bulgaria       Ethiopia                                Italy              Qatar
Burkina Faso   Finland                                 Jamaica            Reunion Island


                                                                                                                    23
CWT Head Offices Worldwide
Europe, Middle East, Africa
and Latin America
31 rue du Colonel Pierre Avia
75904 Paris Cedex 15
France
Tel. +33 (0)1 41 33 65 00

North America
701 Carlson Parkway
Minneapolis, MN 55305
United States
Tel. +1 (800) 213-7295

Asia Pacific
3 HarbourFront Place
#08-03 HarbourFront Tower 2
Singapore 099254
Tel. +65 6511 9200

www.carlsonwagonlit.com




    Carlson Wagonlit Travel is committed to promoting environmental sustainability. This document
    was printed on 100% recycled paper. We used no-glue binding for cleaner production.

    Copyright © 2009 CWT

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Carlson Wagonlit Travel

  • 1. A Comprehensive Approach to EFFECTIVE TRAVEL MANAGEMENT 2009
  • 2. Business Travel Today Business travel continues to play an important part in building relationships and driving growth. There is simply no better substitute for a firm handshake or an encouraging pat on the back. Nevertheless, business travel is under closer scrutiny than ever before. Value has become the recurring theme. Every business trip must generate concrete results in keeping with well-defined objectives. Consequently, travel programs are continuously monitored and ongoing program optimization an absolute. Greater savings are only part of the mandate. Service and security remain important imperatives and decreasing travel’s impact on the environment is on everybody’s “Must Do” list. Furthermore, today’s business travel market is highly complex and constantly changing. How then can organizations today effectively manage their travel programs? One sure way is by working with a travel management company who truly understands their needs and challenges and is consistently on top of market trends and best practices. Carlson Wagonlit Travel (CWT) is just that company. As a global leader specializing in business travel management, we are focused on helping clients derive greater value from their travel programs. To that end, we have the people, processes, products and services our clients need to optimize their business travel. CWT knows that making the most of business travel can mean big returns for companies and their travelers. 2
  • 3. Contents About Carlson Wagonlit Travel .................................................................4 Corporate Social Responsibility ...........................................................18 Message from Douglas Anderson, President & CEO.......................5 Core Values Guiding CWT ......................................................................20 Eight Key Levers to Effective Travel Management ...........................6 CWT Travel Management Institute.......................................................21 CWT Products and Services .....................................................................8 The CWT Executive Team .......................................................................22 Traveler & Transaction Services .................................................10 Worldwide Presence.................................................................................23 Program Optimization..................................................................12 Safety & Security ............................................................................14 Meetings & Events.........................................................................16 Carlson Wagonlit Travel is committed to promoting environmental sustainability. This document was printed on 100% recycled paper. We used no-glue binding for cleaner production. 3
  • 4. About Carlson Wagonlit Travel Carlson Wagonlit Travel is a global leader specializing in business travel management. The company is dedicated to helping companies of all sizes, as well as government institutions and non-governmental organizations, optimize their travel programs and provide best-in-class service and assistance to travelers. By leveraging the talents and know-how of its people and providing leading-edge technology, CWT helps clients around the world drive savings while delivering service and enhancing security and sustainability. CWT sales volume Actual at current exchange rates, CWT at a glance* including joint ventures (US$ billion) Present in more than 150 countries and territories 22,000 employees 27.8 26.0* A diverse client portfolio of large corporations, small and mid-size companies, and government institutions. Clients include more than half of the Fortune Global 100 companies. 19.6 55 million on- and offline transactions US$ billion US$27.8 billion in sales generated by wholly owned operations and joint ventures U A global leader: Number one in Europe, Asia Pacific and Latin America Number two in North America * 2008 figures 2006 2007 2008 * 2007 traffic restated for additional hotel and car volume in North America 4
  • 5. Message from Douglas Anderson President & CEO At Carlson Wagonlit Travel, we are proud of our success. But we also know that being an industry leader brings tremendous responsibility. Meeting the needs of our clients with integrity and know-how is a deep-rooted conviction we all share. We at CWT are privileged to work with clients in all business sectors as well as government and non-governmental organizations. Although many of our clients are among the biggest and best-known corporations in the world, we take great pride in successfully delivering effective travel management to small and mid-size companies as well. Working hand in hand with our clients to truly understand their business needs and help them realize their objectives through flexible solutions is what sets CWT apart. CWT has a multicultural team of people working around the world. Their strong sense of engagement and their expertise have contributed significantly to our clients’ satisfaction and loyalty. Our job is made easier thanks to the industry suppliers and business partners with whom we work. Like us, they are committed to client care and excellence. Our shareholders are global leaders in their own right. Their unwavering support has helped CWT pave the way in a fast-changing, complex environment. By being innovative and resourceful in all aspects of our business, we have continued to deliver added value to our clients, employees and shareholders alike. Looking ahead, CWT is well positioned to maintain its global leadership and successfully address the challenges before us. Our strategy is focused and our priorities clear. In addition, we offer the finest products and services in our industry. In a world without boundaries, we have a vast geographic presence and hard-working people who are among the best in their field. Our history of longstanding client relationships also bodes well for the future. But we are never complacent. Every day, we seek higher levels of performance that will benefit not only our clients but our industry at large. This brochure provides a glimpse into CWT and its activity. I trust those of you who know us well will find yourselves in familiar surroundings. If you have not yet discovered our company, I hope this information will be of relevance and encourage you to get to know us better. “Every day, we seek higher levels of performance that will benefit our clients and the industry at large. ” 5
  • 6. Eight Key Levers to Effective Travel Management In a complex, fast-changing environment, Carlson Wagonlit Travel works closely with clients to help them identify their priorities and optimize their travel programs. This means greater value in terms of safety, service and security for companies and their travelers. Sustainability is also a key factor in the equation. Today, by mitigating business travel’s impact on the environment, companies can help shape the future. The eight key levers to effective travel management are at the heart of every well-managed travel program. They provide a robust framework from which to work and succeed. To that end, the CWT Travel Management Institute conducts in-depth research into the underlying principles of effective travel management and identifies best practices companies can implement with the help of CWT. 6
  • 7. Provide the right services and assistance to travelers and Further consolidate travel programs. By bringing the optimize transaction processing. Online booking tools for components of a travel program together on a local, regional or simple transactions, coupled with expert travel counselors at the global level, companies can save up to 20 percent of total travel point of sale for complex itineraries and special services, drive spend and enhance service and security. A standardized travel savings and increase traveler satisfaction and productivity. policy, consistent booking and fulfillment processes, and consolidated sourcing that includes just one travel management Tackle hotel spend. Representing 30-40 percent of a total travel company are keys to success. budget, hotel spend is often less carefully managed than air spend. Establishing and closely monitoring a preferred hotel program that Address security and corporate social responsibility. travelers adhere to provides greater leverage for negotiations. A company’s duty of care applies to employees as well as the Security is also enhanced when travelers comply with a well- environment in which they operate. For starters, this means designed program that meets their business needs. successfully managing the risks associated with business travel, practicing responsible procurement and reducing their carbon Continue to drive air and ground transportation savings. footprint. Optimized sourcing and changes in traveler behavior can lead to greater savings. Negotiating with a limited number of preferred Integrate meetings and events into the travel program. airlines and requiring travelers to book restricted fares at least two Meetings and events can represent 25-40 percent of a total travel weeks in advance are two important means. Integrating rail into a and entertainment budget. By integrating them into their travel travel program can also bring tangible results in terms of savings, programs and applying the principles of effective travel traveler comfort and convenience, and reduced carbon dioxide management, companies can better control and optimize their emissions. A well thought-out ground transportation program takes spend. car rental, limousine, chauffer-driven “black car” and taxi services into account too. Develop actionable dashboards and performance measures. Without relevant performance indicators and consolidated data Increase policy compliance and optimize demand delivered in a timely, accurate, easy-to-use fashion, it is impossible to management. Together, a well-designed travel policy and strict evaluate a travel program and implement corrective measures where compliance can generate savings of on average 20 percent of total needed. travel spend.1 Mandates must be clear and compliance strictly enforced in five main areas: advance air booking, restricted airfares, preferred suppliers, traveler comfort (authorized air class/hotel category), and preferred booking channels. Demand management offers another way to control costs by aligning travel with business needs. To that end, some trips may be replaced with alternatives such as teleconferencing to reach the same objectives. Adjusting the travel policy, increasing compliance and monitoring performance indicators also help optimize the quantity, frequency and specifications of travel for better demand management. 1 Playing by the Rules: Optimizing Travel Policy and Compliance, CWT Travel Management Institute, 2008. 7
  • 8. CWT Products and Services CWT offers flexible solutions that generate value for companies of all sizes. Working closely with clients to fully understand their goals, CWT provides products and services that balance and meet the needs of travel managers, business travelers, procurement professionals and C-level executives. CWT leverages its global footprint and innovative technology with best-in-class tools to help clients around the world maximize the effectiveness and value of their travel programs while providing consistent and dependable service to their travelers. As new trends emerge and clients’ needs change, CWT uses its expertise to constantly evolve its products to provide innovative, results-driven solutions. 8
  • 9. CWT products and services meet your varied needs 9
  • 10. With more than 18,000 skillfully trained counselors, CWT offers best-in-class traveler services, booking assistance and optimized transaction processing. CWT recognizes that clients have different travel management needs. Therefore, driving online adoption and effectively managing complex offline our services can be adapted to ensure your specific requirements are fulfilled bookings. Booking through CWT also provides efficient access to the most successfully. No matter the request, CWT can help companies identify and competitive hotel rates—negotiated by you and/or by us. Additional traveler implement service configurations that increase savings and enhance service to services—mobile alerts, VIP assistance, customer satisfaction monitoring and best meet your travelers’ needs. For example, using a CWT Fulfillment Center can around-the-clock emergency support—allow travelers to be more productive and maximize automation and simplify delivery for any type of transaction. improve their overall experience. CWT also offers clients access to all relevant content—scheduling, fares, room rates and availability—and the most competitive pricing so they can accomplish their objectives in accordance with their travel policy. CWT further assists clients in 10
  • 11. Powerful tools for travelers CWT Portal is the central gateway to all CWT online travel services, providing travelers with 24/7 access to booking services, profile data, security news and alerts, destination Success story: intelligence, health information and traveler tools. Service configuration change saves $1 million in 3 months CWT Portrait is a Web-based profile management tool that allows travelers and travel arrangers to create and update A leading, global biotechnology company with $80 million in travel traveler profiles 24/7, 365 days a year to ensure accurate spend wanted to streamline operational delivery to reduce costs and bookings, precise and informative reporting, and enhance service quality. CWT worked with the client to implement an personalized interactions. outsourced CWT Full Service Center, resulting in savings of $1 million in the first three months, improved data consolidation and increased Online booking tools can significantly reduce travel spend customer satisfaction. and increase policy compliance. CWT offers seamless integration of leading, third-party online booking tools as well as proprietary tools in specific markets. 11
  • 12. CWT offers an array of products and services to help clients optimize their travel programs and increase savings. The foundation of program optimization is the ability to capture and consolidate and execution of action plans to improve specific areas. The CWT diagnostic data. CWT works with clients to ensure the data collected is timely, relevant and approach is objective and quantitative, offering fact-based, actionable data clients accurate. Data is consolidated in a worldwide global data warehouse, ensuring can use to make measurable improvements to their travel programs. clients have the global, regional or country-level perspective they need. This information is accessible through an industry-leading, global travel management The program optimization team includes more than 1,000 professionals around portal, available 24/7. The innovative interface allows clients to customize their the world who are responsible for analyzing travel programs and implementing reporting display and track progress toward key company goals easily and program optimization strategies. This diverse team of experts includes graphically and share this information with principal stakeholders. program managers and data consolidation experts. Additionally, the consultants of the CWT Solutions Group manage customized engagements in air, hotel and CWT helps clients assess the maturity of their current travel programs in each of the ground transportation supplier sourcing as well as technology, booking, fulfillment, eight key levers to effective travel management and follow-up with the development meetings and events, and change management. 12
  • 13. Demand management support CWT demand management tools give clients a wide spectrum of options to apply systemic controls that affect the quantity, frequency and specifications of travel, enabling them to manage costs without compromising business objectives. The CWT Program Management Center is an award- winning, centralized travel management interface that helps clients track compliance and trip purpose by putting Success story: all of the performance metrics and information needed— at a global, regional or local level—in one place. CWT Better-fit program improves hotel compliance Agency+Card Reporting, an enhanced reporting option, allows clients to compare travel booking data with credit A global pharmaceutical group with $23 million in hotel spend card charges to identify and address discrepancies quickly. wanted to improve compliance with its preferred hotels policy. Working closely with the CWT Solutions Group, they audited transactions to identify ways to improve the hotel program’s fit CWT Policy Builder helps clients create a travel policy from with traveler needs, identified potential new preferred suppliers, scratch and assess, benchmark and improve existing and improved service at the point-of-sale, resulting in a policies to support company initiatives such as demand 20 percent increase in compliance. management. CWT Policy Messenger, winner of a 2009 Innovation Award at the Business Travel Show in London, enables travel managers to automate out-of-policy messages to targeted travelers and optimize compliance. 13
  • 14. CWT’s safety offering keeps clients informed of travel risks and helps them locate and assist travelers quickly in a crisis. To help avoid situations that may adversely affect traveler safety, CWT provides For advanced security needs, CWT works with leading, third-party risk- clients and their travelers with relevant information to increase awareness of management and healthcare firms to offer enhanced services designed to risks before, during and after a business trip. monitor risk to personnel and facilities, protect travelers and respond to emergency incidents 24/7. When incidents occur, CWT’s thorough crisis communications process includes effective communication, as well as response and recovery procedures, to ensure clients are informed and travelers well protected. CWT immediately alerts clients of a travel incident by telephone, email and/or SMS. Travel managers can then access accurate, actionable passenger data provided by CWT to quickly identify and track affected travelers, delivering assistance where needed. 14
  • 15. Helping improve security CWT Guardian, our global suite of safety and security services, offers automated travel alerts, destination intelligence, traveler tracking and traveler support to help clients proactively avoid or effectively manage risk. CWT Policy Messenger allows travel managers and heads Success story: of security to automatically alert travelers going to high- risk destinations. Enhancing traveler tracking A financial services company with $38 million in travel spend Enhanced safety and security services are also available, needed a partner who could monitor global incidents and send including trip-specific intelligence reports, enhanced immediate notification in case of an emergency to help traveler tracking, direct communication with affected improve traveler safety. CWT provided a complete solution via travelers, health information and other services designed its safety and security offering CWT Guardian, which includes to mitigate risk. travel alerts, destination intelligence, traveler tracking and traveler support. In less than an hour after breaking news of a plane crash, CWT alerted the client so they could contact an affected traveler who had been sent to the hospital and ensure continued care and safety. 15
  • 16. CWT offers a range of services to help integrate meetings and events with the travel program to optimize savings, enhance process control, improve risk management and enrich attendee experiences. CWT integrates best practices in sourcing, logistics and specialized CWT Events can help you develop event concepts that meet your business consulting to deliver a comprehensive M&E program that optimizes spend, objectives, then plan, fulfill and execute events that accomplish those goals savings and return on meeting objectives. Taking control of meetings and events with market-specific event services tailored to your particular needs. They also can help companies save 10-30 percent in direct costs while improving meeting handle administrative and financial tasks so meeting owners can focus on the and event services and return on investment. event’s success and deliver return on their investment. CWT Meetings offers a range of services to professionalize meeting planning CWT’s comprehensive, post-meeting reporting package consolidates data from and execution, as a supplement to in-house processes, providing expertise as multiple sources to measure the financial impact and effectiveness of each meeting. needed in specific areas or delivering an end-to-end solution for your planners In addition, data consolidation enables clients to leverage combined M&E and and attendees. In addition, professionals from CWT Meetings & Events Solutions business travel spend for more effective negotiations. CWT also has best-in-class can help you gather and analyze the data and information you need to build technology enablers to facilitate efficient processes and provide the meeting tools a best-in-class M&E program and improve it year after year. and services planners need. Furthermore, traveler tracking and risk management are enhanced when M&E participants book through CWT. 16
  • 17. Unbeatable strength With CWT Meetings Strategy Plus, companies can strategically strengthen their M&E program by leveraging both customized consulting and professional meeting planning and execution. Our M&E professionals can assess and evaluate your current program, including the sourcing strategy and meetings policy. They can then design and implement a program that meets your unique M&E program objectives and provide ongoing analysis and actionable recommendations for continued improvement. Success story: Consolidated M&E approach drives savings A high-performance network solutions company with $15 million in annual M&E spend wanted to optimize their M&E investment and improve processes to avoid penalties while increasing benefits to attendees and the company. CWT negotiated hotel contracts to gain more value from suppliers, including better indemnification and cancellation clauses, while implementing tools and process improvements to create a more organized approach to meeting planning. The client saved an average of 26 percent on CWT-managed meetings and events while improving its registration process, supplier negotiations and planning. 17
  • 18. Corporate Social Responsibility As a leading provider of travel management products and services worldwide, CWT is addressing issues of Corporate Social Responsibility (CSR) by helping Success story: clients reduce the impact of their travel program on the environment. Government agency increases sustainable travel awareness CWT actively and effectively helps clients build sustainable travel programs by enabling travel management professionals and travelers to make well-informed decisions to reduce their carbon footprint. As a result of these efforts, we have won the coveted Icarus award A government agency that supervises environmental issues from the Institute of Travel and Meetings in the U.K. for two years in a row. With CWT, and has $2.1 million in travel spend wanted to improve clients can strategically calculate, measure and manage emissions to align their travel environmental reporting capabilities and traveler decision programs with their overall CSR goals. making within its own travel program. With help from CWT, the agency implemented an online booking tool that features the At the time of booking, travelers can choose the transportation option that best meets their CWT Carbon Calculator, significantly increasing travelers’ needs by calculating and comparing the carbon impact of their trip on the environment. awareness of the environmental impact of their travel choices. CWT’s post-trip emissions reporting lets travel managers measure the carbon footprint of As a result, rail is now the preferred travel option for trips of less their corporate travel programs to track trends and evaluate progress toward reduction. than three hours. CWT also provides advanced emissions management services through The CarbonNeutral Company, one of the world’s leading carbon offset and climate consulting companies. Key services include robust greenhouse gas assessments, carbon footprint analyses, access to approved carbon offset projects and carbon-neutral travel certification. 18
  • 19. Examples of CWT’s commitment to Our commitment to helping clients practice sustainable travel is part of CSR around the world greater company-wide CSR initiatives. Diversity: All CWT employees in Asia Pacific go through a workplace diversity awareness training program. In Germany, CWT was the first An important part of our mission is to foster the development and well-being of company in the travel industry to sign the Charter of Diversity of German our employees, ensure productive relationships with all of our stakeholders, Companies under the patronage of the federal chancellor. CWT North protect the environment, and be good citizens in the communities where we America’s Diversity Council works with human resources to recruit and operate. promote a diverse workforce, while our Military & Government Markets division has helped employ disabled veterans in partnership with the U.S. Principles of ethical and safe conduct, coupled with our core values and a sense of corporate citizenship, provide the framework that guides CWT both in its Department of Veteran Affairs. business activities and its CSR initiatives. Environment: Many CWT offices are dedicated to recycling, using alternative energy suppliers, and purchasing office furniture endorsed by Specifically, CWT has made diversity, the environment and community forest sustainability councils. involvement the focus of its CSR program. Community involvement: Various CWT offices in North America support more than 75 different charities and community organizations through fundraising, volunteering and in-kind donations. Employees of CWT China assisted the China Earthquake Relief Fund. CWT Australia raised funds through donations and wellness challenge events for the Starlight Children’s Foundation, dedicated to lifting the spirits of seriously ill and hospitalized children and their families. 19
  • 20. Core Values Guiding CWT Six core values underlie the collective spirit and code of conduct at CWT. Employees are guided by these principles as they build new relationships, sustain existing ones, make determined choices and carry out their professional responsibilities. CUSTOMER CARE COMMITMENT TO CULTURAL DIVERSITY Putting the needs of clients first and EXCELLENCE Fostering respect and a team spirit striving to continuously provide an Continuously seeking higher levels in the workplace, embracing and outstanding level of service of performance leveraging the multicultural essence of the company, and providing equal opportunities to talented individuals RELIABILITY ENTREPRENEURIAL INTEGRITY Being a dependable and trustworthy SPIRIT Building productive, longstanding business partner, committed to Approaching new challenges with relationships by being truthful and offering industry-leading products creativity, resourcefulness and agility, promoting open communication and services reacting quickly and effectively to provide innovative solutions 20
  • 21. CWT Travel Management Institute The CWT Travel Management Institute conducts in-depth research into effective travel management practices to help clients worldwide derive the greatest value from their travel program. Drawing on the global resources of CWT, the institute provides a regular flow of business intelligence and best practices offering actionable insights into travel management. To that end, the global edition of CWT Vision presents timely overviews and interpretations of industry trends. Recent research published by the CWT Travel Management Institute includes: Travel Management Priorities for 2009 Effective Travel Management: Eight Key Levers to Optimize a Travel Program Room for Savings: Optimizing Hotel Spend Playing by the Rules: Optimizing Travel Policy and Compliance Global Horizons: Consolidating a Travel Program Toward Excellence in Online Booking Global edition Annual report of travel managers’ Research publications priorities 21
  • 22. The CWT Executive Team Douglas Anderson Håkan Ericsson Jerry Hogan Marc Karako Mike Koetting Jack O’Neill President & President, Europe, VP & General Executive Vice President & Chief Operating Officer, President, North America Chief Executive Officer Middle East, Africa Counsel Chief Financial Officer North America and Latin America Berthold Trenkel Philippe Vinay Cathy Voss Martin Warner Andrew Winterton Executive Vice President, Executive Vice President, Executive Vice President, Chief Operating Officer, Executive Vice President, Traveler & Transaction Services Human Resources Global Program Solutions Asia Pacific Global Supplier Management Carlson Wagonlit Travel has two shareholders. Carlson, a global hotel, marketing, restaurant and travel company, holds 55 percent of CWT shares. One Equity Partners, a private equity affiliate of JPMorgan Chase & Co., holds the remaining 45 percent. 22
  • 23. Worldwide Presence Japan Romania Jordan Russia Kazakhstan Rwanda Kenya Saudi Arabia Kosovo Senegal Kuwait Serbia Kyrgystan Seychelles Latvia Sierra Leone Lebanon Singapore Libya Slovakia Lithuania Slovenia Luxembourg South Africa Macedonia South Korea Madagascar Spain Malawi Sri Lanka Malaysia Sudan Mali Sweden Malta Switzerland Martinique Syria Mauritania Taiwan Wholly Owned/Joint Ventures/Minority Holdings (43) Mauritius Tajikistan Partners (114) Mexico Tanzania Modolva Thailand Monaco Togo Mongolia Trinidad and Tobago Afghanistan Burundi France Montenegro Tunisia Albania Cambodia French Guiana Morocco Turkey Algeria Cameroon French Polynesia Mozambique Uganda Angola Canada Gabon Nepal Ukraine Argentina Chile Gambia Netherlands United Arab Emirates Armenia China Georgia New Caledonia United Kingdom Australia Colombia Germany New Zealand United States Austria Congo, Democratic Republic of the Ghana Nicaragua Uruguay Azerbaijan Congo, Republic of the Greece Niger Uzbekistan Bahrain Cook Islands Guadeloupe Nigeria Vanuatu Bangladesh Costa Rica Guatemala Norway Venezuela Barbados Côte d'Ivoire Guinea Oman Vietnam Belarus Croatia Haiti Pakistan Yemen Belgium Cyprus Honduras Panama Zambia Belize Czech Republic Hong Kong Papua New Guinea Zimbabwe Benin Denmark Hungary Paraguay Bhutan Dominican Republic Iceland Peru Bolivia Ecuador India Philippines Botswana Egypt Indonesia Poland Brazil El Salvador Ireland Portugal Brunei Estonia Israel Puerto Rico Bulgaria Ethiopia Italy Qatar Burkina Faso Finland Jamaica Reunion Island 23
  • 24. CWT Head Offices Worldwide Europe, Middle East, Africa and Latin America 31 rue du Colonel Pierre Avia 75904 Paris Cedex 15 France Tel. +33 (0)1 41 33 65 00 North America 701 Carlson Parkway Minneapolis, MN 55305 United States Tel. +1 (800) 213-7295 Asia Pacific 3 HarbourFront Place #08-03 HarbourFront Tower 2 Singapore 099254 Tel. +65 6511 9200 www.carlsonwagonlit.com Carlson Wagonlit Travel is committed to promoting environmental sustainability. This document was printed on 100% recycled paper. We used no-glue binding for cleaner production. Copyright © 2009 CWT