American Express
Global Business Travel has completed the acquisition of Egencia from the
Expedia Group.
As part of the
deal, Expedia has become a shareholder in GBT and secured a ‘long-term
agreement’ to provide accommodation content to GBT.
The deal, first
announced in May, cements Amex GBT’s position as the world’s largest travel
management company, but it also brings the small- and midmarket customer into
focus for the brand.
According to a
statement from GBT, it will accelerate investment in the Egencia brand, people
and technology.
Mark Hollyhead,
Egencia president, will continue to lead the Egencia business and will report
directly to GBT CEO Paul Abbott and join GBT’s executive leadership team.
“Bringing GBT and
Egencia together will create a winning formula that will define the future of
travel,” said Abbott. “We will provide unrivaled value, choice and experiences
to customers. Unrivaled value because together we’ll have the best content and
deliver the best savings. Unrivaled choice because no one comes close to the
breadth and depth of solutions we will offer. And unrivaled experiences because
we have the best people and technology in the industry.”
Hollyhead added: “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.”