James Diaz has expressed pride and gratitude as he steps away from his start-up venture, Absolute Travel Management, and passes its clients to another travel management company.
Diaz, the former UK CEO of Travel Planet, launched Absolute in January 2025 after successfully closing an oversubscribed seed investment round at the end of 2024, raising over £500,000.
But with investors now more cautious about the corporate travel sector, Absolute was unable to raise sufficient funds for the next investment round, despite securing multiple accounts worth several million pounds and coming close to winning several significant accounts.
Targeting small and medium-sized enterprises, the TMC was supported by Global Travel Collection (GTC), a division of Internova Travel Group, giving it access to GTC’s trusted partners, industry accreditations and business platform.
Its client base has now been moved to VMR Travel, a GTC partner which “shares the same values around customer service and quality”.
“Continuity for clients has always been a priority,” said Diaz. “This move ensures they continue to receive the level of care and attention they deserve.”
Speaking to The Business Travel Magazine, Diaz explained: “This isn’t a decision I’ve taken lightly. But it is one I make with clarity, gratitude, and – most importantly – no regrets.
“There’s a quote from Michael Jordan that has always stayed with me – ‘I can accept failure. Everyone fails at something. But I can’t accept not trying’. That quote perfectly reflects how I see this chapter. I took my shot and I’m proud that I did.”
Diaz said the biggest challenge for the TMC was cashflow, as well as not owning its own technology platforms.
He said he feels confident that with a second round of funding, Absolute would have been successful.
“But the pace of onboarding and billing simply wasn’t keeping up with the level of investment required in infrastructure, technology and people,” he explained. “We were building properly, investing in quality systems and a strong team, but the growth curve didn’t accelerate quickly enough to sustain that level of commitment.
“Running a business means constantly balancing ambition with reality. In this case, the numbers didn’t align in the way they needed to. Recognising that early, and acting responsibly, is part of leadership.”
Diaz said he had invested in Absolute “not just financially, but emotionally and professionally”.
“Did it become the success we all hoped for? No. But was it a failure? Absolutely not, because I learned more in these 15 months than I could have learned in years of playing it safe,” he continued.
“I learned that beyond experience, grit, and tenacity, success also depends on timing and a little bit of luck. You can do many things right and still face challenges that are simply out of your control.”
He said he was immensely proud in what the nine-strong team had achieved. Many of them had previously worked with Diaz at Travel Planet.
“We built something with integrity. We delivered genuine service. We worked hard. We cared,” he said. “The people involved in Absolute Travel Management showed professionalism, resilience, and commitment throughout. Our customers trusted us, and that trust was never taken for granted. For that, I am deeply grateful.”
In the short term, the Absolute team will be joining VMR Travel, except for Diaz. “This chapter may be closing, but it hasn’t slowed me down – it’s sharpened me,” he said.
“Entrepreneurship isn’t about winning every time. It’s about having the courage to step into the arena, knowing there are no guarantees.
“I’m leaving with stronger instincts, better judgment, deeper resilience and clearer perspective. I know more now about what it really takes to scale sustainably. I understand risk better, I understand timing better and I understand myself better.
“Most importantly, I’ll never look back and wonder ‘What if I’d tried?’, because I did, and that matters.”
