I had some boxes custom made Rich - they hold 24 watches apiece and are for permanent storage more than for travelling with. Any good cabinet maker could do it and you end up with something really nice - the only trouble is, you're running the price of a watch for a couple of boxes.

There are a number of briefcases to hold watches out there, which could do the job, but it sounds like you're after something more portable again than that? Something like a chef's knife roll? There are a few on eBay if you search for "watch roll".