BCD Holdings N.V., a privately owned international travel company founded in 1975 by Dutch entrepreneur John Fentener van Vlissingen, expects record sales for the year 2008. For the first eight months of 2008 the company showed an increase of 6 percent in sales. This increase was supported by solid organic growth in Europe and significant organic growth in the Asia-Pacific and Middle East regions. The sales increase also reflects the acquisition of new customers, the successful launch of niche companies such as the internet travel company Vayama in the United States, and performance growth within BCD Travel’s operating units Advito (travel management consulting) and BCD Meetings & Incentives. BCD Travel, the largest operating company of BCD Holdings, was founded in 1987 as a regional player headquartered in Atlanta. It has developed into the world’s third largest travel management company. This year, for the first time, BCD Travel will generate more than 50 percent of its sales outside the U.S.A

Joop Drechsel, CEO, said: “We are pleased with our strong results to date, but we are also aware of the impact still to be felt from the ongoing global economic slowdown, particularly in the U.S.A. and several major European markets. BCD Holdings is taking the necessary steps to adapt its organization to this economic reality and the changing demands of travelers, by implementing a cost-reduction program. In addition to focusing on process improvements and synergies, we anticipate that most of the staff reductions associated with this program will be absorbed through natural attrition.”

Despite the challenges the travel industry currently faces, including a global economic headwind and shrinking margins, BCD Holdings is forecasting record sales of approximately US$16 billion for 2008 (compared to US$15 billion in 2007) and an EBITDA result for 2008 in line with the 2007 EBITDA of US$ 120 million.