06 Nov FLEETCOR Acquires Creative Lodging Solutions, a Complementary Lodging Network Provider to Businesses
“Serving new market segments has been a growth focus for our CLC Lodging business, primarily through accommodating different stay patterns and hotel booking methods”
CLS, founded in 2002 and based in Lexington, KY, is a leading lodging provider to businesses with long-term stay travel needs. CLS has successfully served a growing list of clients through a travel management approach which combines discounted rate and policy controls with simplified billing, payment, and reporting.
“Serving new market segments has been a growth focus for our CLC Lodging business, primarily through accommodating different stay patterns and hotel booking methods,” said Ron Clarke, chairman and chief executive officer of FLEETCOR Technologies, Inc. “We like the strategic fit with CLS. They focus on slightly different clients with full service, long-term stay requirements, typically stays greater than five nights. FLEETCOR, via CLC Lodging, has typically served clients’ short-term lodging needs, primarily through a self-service booking model. Both client sets have overlapping lodging needs, therefore we expect the acquisition to strengthen our hotel network through increased room nights.”
FLEETCOR Technologies (NYSE:FLT) is a leading global provider of commercial payment solutions. The company helps businesses of all sizes better control, simplify and secure payment of their fuel, toll, lodging and general payables. With its proprietary payment networks, FLEETCOR provides affiliated merchants with incremental sales and loyalty. FLEETCOR serves businesses, partners and merchants in North America, Latin America, Europe, and Australasia. For more information, please visit www.FLEETCOR.com.