The Growth and Struggles of Italian Travel Management Companies in 2024

Published on June 24, 2025

The travel management companies (TMCs) of Italy had a year of great expansion and transformation during 2024, with an increase in corporate travel demand, an increase in operational complexities, and ongoing volatility of the global geopolitical environment. With increased corporate travel expenditure, Italian TMCs had to address a precarious balance of opportunities and challenges and adapt to a transforming marketplace.

Resurgence of Corporate Travel Demand

The year 2024 saw a significant rebound in corporate travel, with a sharp rise in business expenditures, particularly in the MICE (Meetings, Incentives, Conferences, and Exhibitions), long-stay, and luxury travel segments. According to Loretta Bartolucci, Commercial Director at Cisalpina Tours, the surge was driven by a “structural recovery of corporate mobility,” accompanied by a renewed recognition of the importance of business travel for companies’ growth. This trend was echoed by other major Italian TMCs, including ACI Blueteam and Gattinoni, who reported strong performance in their corporate travel operations. This recovery reflects renewed corporate confidence in the travel sector, which had been hit hard by the pandemic and related disruptions.

Expanding Beyond Borders: Internationalization Efforts

Despite the challenges, Italian TMCs also sought to expand their global footprint in 2024. Cisalpina Tours, through its CTI brand—Cisalpina Tours International—embarked on an internationalization strategy that saw its operations extend to nine foreign markets. This move highlights a growing trend among Italian TMCs to not only serve local clients but also tap into international markets to ensure long-term sustainability and growth.

Profit Margins and the Search for Talent

Despite the positive demand outlook, Italian TMCs are still grappling with tight profit margins. Many companies face the challenge of covering operational costs, with average transaction fees no longer matching the expenses of delivering high-quality services. Paolo Bertola, Commercial Director at ACI Blueteam, highlighted this issue, noting the difficulty of maintaining high standards while navigating a fragile supply chain. Furthermore, the talent shortage continues to plague the industry. Recruitment and training of new professionals have become top priorities for many TMCs, but the challenge remains: how to attract skilled personnel into a sector that struggles with narrow margins and limited appeal, particularly among younger generations.

Technological Innovation: A Double-Edged Sword

One of the major shifts in 2024 has been the increasing reliance on technology within the TMC sector. The integration of AI-based tools and advanced Online Booking Tools (OBTs) has sparked debates within the industry. Some industry leaders, such as Elena Carlino, Corporate Travel Director at Gruppo Gattinoni, are optimistic about technology’s potential to streamline operations and improve efficiency. However, others have expressed concerns about the risk of disintermediation, where automation could reduce the need for human expertise in the travel management process.

The challenge lies in striking a balance between automation, sustainability, and the human factor, ensuring that technology enhances rather than diminishes the value of personalized services. As Carlino notes, maintaining high service standards and environmental responsibility remains a critical aspect of corporate travel management.

Airline Industry Developments: Lufthansa’s Stake in ITA Airways

In the airline industry, Italy saw new developments in 2024 that could influence the corporate travel sector. The acquisition of a stake in ITA Airways by Lufthansa opened new possibilities for Italy’s air transport market. The general sentiment surrounding the move is cautiously optimistic, with experts like Alfredo Pezzani of the FTO Transport Commission noting that operational efficiency will likely improve as a result. However, there are concerns that increased consolidation within the industry could limit options for businesses, reduce competition, and introduce greater commercial rigidity.

Despite these concerns, both Cisalpina Tours and ACI Blueteam acknowledge the potential long-term impacts of these developments on airline fares and route networks, signaling that these changes will require careful monitoring.

Airfare and Hotel Pricing: Stabilization After a Rollercoaster Ride

After a tumultuous price surge in 2023, both airfares and hotel rates showed signs of stabilization in 2024. According to Bertola, 2024 was marked by two distinct phases: a continued price surge in the first half of the year, followed by a tapering of growth in the latter half. Although rates continued to rise, the pace was slower compared to 2023, providing some relief to businesses in the travel management sector. This price stabilization could offer a more predictable cost structure for Italian TMCs managing corporate travel budgets.

High-Speed Rail’s Strong Growth Trend

Another notable shift in Italian corporate travel preferences has been the growing demand for high-speed rail services. As environmental consciousness continues to rise, high-speed trains have emerged as a preferred option for short and medium-haul travel, particularly for business trips. Gattinoni’s Carlino highlighted that high-speed rail operators experienced revenue growth in 2024, driven by a shift in corporate travel habits and a desire for more sustainable and comfortable travel alternatives.

The expansion of rail infrastructure and improved service offerings have further cemented rail travel as a viable and appealing alternative to air travel for many companies. This shift aligns with broader trends in sustainable tourism, where rail travel is seen as a more eco-friendly and efficient option.

Rethinking Business Models: The Strategic Value of Travel Management

As Italian TMCs reflect on the challenges and growth of 2024, many are rethinking their economic models. Bartolucci of Cisalpina Tours emphasized that traditional procurement models based solely on price are no longer adequate to reflect the true value of travel management services. Instead, TMCs must reposition themselves as strategic partners that offer comprehensive advisory services, helping businesses navigate the complexities of corporate travel in an increasingly uncertain world.

The overarching message from Italian TMCs in 2024 is clear: to remain competitive in an evolving market, companies must embrace new models, cultivate new skills, and adopt a forward-thinking approach that balances technology, sustainability, and high service standards. Innovation, internationalization, and a renewed strategic vision are now essential for success in the corporate travel space.

Conclusion: A New Era for Italian Travel Management Companies

Italy’s travel management companies stand at a crossroads, managing rising demand against structural challenges and geopolitical risks. The industry is transforming, with sustainability, technology, and internationalization taking center stage. Challenged, yes, but Italian TMCs are clear-eyed, knowing full well the future demands new models, new skills, and better awareness of the strategic contribution of travel management to the entire business environment.

References: Italian Ministry of Tourism, ACI Blueteam, Cisalpina Tours, Gruppo Gattinoni, Lufthansa Group, Assotravel