American Express Global Business Travel Completes Acquisition of Egencia from Expedia Group
November 02 2021 - 9:00AM
Business Wire
American Express Global Business Travel (GBT), the world’s
leading business partner for managed travel, has successfully
completed the acquisition of Egencia, the leading digital travel
management platform. As part of the transaction, Expedia Group has
become a shareholder in GBT. Expedia has also entered into a
long-term agreement to provide accommodations supply to GBT.
GBT will accelerate investment in the Egencia brand, its people
and technology. GBT and Egencia will together offer the leading
solutions across every segment of business travel. Teaming Egencia
with GBT’s Supply MarketPlace, one of the most comprehensive
sources for content and experiences in business travel, provides
customers with more value and choice and offers suppliers enhanced
access to business travelers.
Paul Abbott, GBT’s CEO, said: “Bringing GBT and Egencia together
will create a winning formula that will define the future of
travel. We will provide unrivalled value, choice and experiences to
customers. Unrivalled value because together we’ll have the best
content and deliver the best savings. Unrivalled choice because no
one comes close to the breadth and depth of solutions we will
offer. And unrivalled experiences because we have the best people
and technology in the industry.”
Mark Hollyhead, President of Egencia, said: “Today is a
significant moment in realizing the next important chapter for
Egencia. Becoming part of an organization totally focused on
business travel will accelerate Egencia’s growth and amplify what
we do best – offer technology-driven solutions that address the
ever-evolving needs of business travel and its many
stakeholders.”
Ariane Gorin, President, Expedia for Business, added: “We are
pleased to see Egencia grow with this new opportunity, especially
as business travel comes back. At Expedia Group, we power thousands
of partners around the world with our best-in-class technology and
vast inventory. Closing this deal, including our long-term
agreement to provide lodging supply to GBT, is an important step
forward in our ambition to power the entire travel ecosystem and
help all of our partners achieve their goals.”
With the close of the transaction, Mark Hollyhead, President of
Egencia, will continue to lead the Egencia business reporting
directly to GBT CEO Paul Abbott and will join GBT’s executive
leadership team.
About American Express Global Business Travel
American Express Global Business Travel (GBT) is the world’s
leading business partner for managed travel. We help companies and
their employees prosper by making sure travellers are present where
and when it matters. We keep global business moving with the
powerful backing of travel professionals in more than 140
countries. Companies of all sizes, and in all places, rely on GBT
to provide travel management services, organise meetings and
events, and deliver business travel consulting.
Visit amexglobalbusinesstravel.com for more information
about GBT, and follow @amexgbt on Twitter, LinkedIn
and Instagram.
About Expedia Group
Expedia Group, Inc. (NASDAQ: EXPE) companies power travel for
everyone, everywhere through our global platform. Driven by the
core belief that travel is a force for good, we help people
experience the world in new ways and build lasting connections. We
provide industry-leading technology solutions to fuel partner
growth and success, while facilitating memorable experiences for
travelers. Our organization is made up of four pillars: Expedia
Services, focused on the group’s platform and technical strategy;
Expedia Marketplace, centered on product and technology offerings
across the organization; Expedia Brands, housing all our consumer
brands; and Expedia for Business, business-to-business solutions
and relationships across the travel ecosystem. The Expedia Group
family of brands includes: Expedia®, Hotels.com®, Expedia® Partner
Solutions, Vrbo®, trivago®, Orbitz®, Travelocity®, Hotwire®,
Wotif®, ebookers®, CheapTickets®, Expedia Group™ Media Solutions,
Expedia Local Expert®, CarRentals.com™, and Expedia Cruises™.
For more information, visit www.expediagroup.com. Follow us on
Twitter @expediagroup, and check out our LinkedIn
www.linkedin.com/company/expedia/.
© 2021 Expedia, Inc., an Expedia Group company. All rights
reserved. Trademarks and logos are the property of their respective
owners. CST: 2029030-50
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211102005713/en/
For American Express Global Business Travel Martin
Ferguson Martin.ferguson@amexgbt.com
Expedia Group Dave McNamee dmcnamee@expediagroup.com
Expedia (NASDAQ:EXPE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Expedia (NASDAQ:EXPE)
Historical Stock Chart
From Apr 2023 to Apr 2024