Paul Abbott, GBT’s CEO, said in a press release that the company’s technology and Neo platform will complement Egencia’s digital business travel platform, and is another tool that Amex GBT can use to ensure that business travelers have “unparalleled choice” and the “best solutions.”
“Egencia would be strengthened by GBT’s complementary technology, enterprise capabilities and cutting-edge content. This would create new opportunities for both multinational and small and medium-sized enterprise (SME) clients, suppliers and the talented teams within both organizations,” Abbott said.
The long-term commercial agreement between the two companies also makes Expedia Group a GBT shareholder. In addition, GBT will invest in the Egencia brand, technology and workforce.
For customers in all segments of business travel, the collaboration will offer tools and solutions powered by the latest technology, according to the release. The tie-up also gives Egencia access to GBT’s Supply MarketPlace, which offers business travelers an extensive library of content and experiences, with more choices and vendors.
Ariane Gorin, president of Expedia Business Services, said that GBT’s tools, along with Egencia’s technology and team, will “create the world’s best business travel offerings for customers and suppliers.”
“At the same time, a greatly expanded, long-term accommodations supply agreement with Expedia Partner Solutions (EPS) would enhance GBT’s Supply MarketPlace and meaningfully further Expedia Group’s goal of powering businesses across the entire eco-system,” said Gorin.
Amex’s first-quarter 2021 earnings were pulled down by the lack of business travel, but the consumer segment has shown signs of picking up as pandemic lockdowns ease and more people are getting vaccinated. Global travel is still below 2019 levels.
Forecasts are varied for the rebound of business travel post-pandemic, but most pundits agree that it will be different than it was before COVID-19 took hold in the U.S. in March of 2020.