March 25, 2020
By William Ehart
The Association of Corporate Travel Executives has announced that it is “suspending its operations through May” because of pandemic-related travel disruptions on the industry.
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The Alexandria, Va.-based group declined to comment on the impact on its workforce. ACTE reported a dozen employees on its most recent tax disclosure. However, the staff directory on its website, which also once showed about 12 staff in Alexandria, has been removed and replaced with the announcement of the suspension.
ACTE postponed its April 26-28 New York Global Summit and its August 25-26 Singapore Global Summit and is trying to schedule new dates and venues, it said in the statement. Meetings comprise 89% of association’s total revenue of $5.6 million, according to the group’s 2018 Form 990. ACTE reported negative net asse-ts of $937,339.
The move “will allow us to position the organization to manage through these difficult times and move forward when the situation has stabilized,” ACTE said in its statement.
In a statement to CEO Update, ACTE executive director Leigh Bochicchio said the group is still functioning.
“While ACTE has suspended its events for the time being, we remain an active organization through our continued research and online community for industry professionals,” she said. “As a policy, we do not comment on employment matters within the organization.”
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