Amex GBT Blends AI With Agents to Win Business Travel Share

27.08.2024 - 21:08 / skift.com / Sean Oneill

Amex GBT (American Express Global Business Travel) has become a giant since spinning out from American Express a decade ago. Last year, it helped employees at about 20,000 companies book $6.3 billion in travel transactions. It’s probably the largest travel management company by sales, though many competitors don’t disclose their financials publicly, making comparisons tricky.

In March, Amex GBT announced plans to buy CWT, a travel management company formerly known as Carlson Wagonlit Travel, for $570 million. Britain’s antitrust watchdog, the Competition and Markets Authority, is taking a closer look at the planned transaction, and its process has delayed the proposed merger date into next year.

Quarterly earnings reports provide snapshots. However, a longer-term perspective can be useful to see what’s driving the company’s competitive position.

So, Skift got an update from Evan Konwiser, chief marketing and strategy officer.

Between the lines: Konwiser implicitly addressed competition from tech-focused startups that have raised hundreds of millions in funding, such as Navan and TravelPerk. He emphasized Amex GBT’s strength in combining technology with operational expertise.

Two of the largest corporate travel agencies want to join forces to create a single giant.

What am I looking at? The performance of travel tech sector stocks within the ST200. The index includes companies publicly traded across global markets including online travel, booking, and travel tech companies.

The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more travel tech sector financial performance.

Read the full methodology behind the Skift Travel 200.