American Express Global Business Travel (GBT) has completed its acquisition of Expedia Group’s digital travel management platform Egencia.
As part of the deal, Expedia Group has become a shareholder in GBT and has entered into a long-term agreement to supply accommodation.
GBT said it would “accelerate investment in the Egencia brand, its people and technology” following the deal and would look to team Egencia with its own Supply MarketPlace.
Chief executive Paul Abbott 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 realising the next important chapter for Egencia.
“Becoming part of an organisation 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 of 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.”
Hollyhead will continue to lead the Egencia business and will join GBT’s executive leadership team, reporting directly to Abbott.