American Express Global Business Travel

From Wikipedia the free encyclopedia

Global Business Travel Group, Inc.
Company typePublic
NYSE: GBTG
Headquarters
New York City
,
United States
Area served
Worldwide
Key people
Paul Abbott (CEO)
ServicesCorporate travel management, event management
Number of employees
18,000
Websiteamexglobalbusinesstravel.com

American Express Global Business Travel (Amex GBT, legally, Global Business Travel Group, Inc.) is a multinational travel management company headquartered in New York City. Amex GBT has 18,000 employees in more than 140 countries.[1][2] American Express holds a minority interest in Amex GBT, but the travel company operates as a separate entity from the financial services group.

History

[edit]

In 2003, Amex GBT acquired Rosenbluth International from Hal Rosenbluth in a "mega deal" that combined two of the top global travel agencies at the time.[3]

In 2014 American Express divested their Global Business Travel division for an investment of $900 million to an investor group creating American Express Global Business Travel. The investment group was led by Certares LP and included Qatar Holdings, Macquarie Capital and funds managed by BlackRock and Teacher Retirement System of Texas.[4] American Express maintained 50-percent ownership of the newly created American Express Global Business Travel (GBT).[5]

In December 2021, American Express GBT announced plans to become a publicly traded company through a business combination with Apollo Strategic Growth Capital, a special-purpose acquisition company (SPAC) backed by Apollo Global Management.[6]

Following the completion of the business combination with Apollo Strategic Growth Capital on May 27, 2022, the company began trading on the New York Stock Exchange on May 31, 2022, with the symbol GBTG.[7][8]

Acquisitions

[edit]
  • October 2003: Rosenbluth International[3]
  • August 2016: KDS[9][i]
  • May 2016: SMT Travel Agency[10]
  • June 2017: Banks Sadler[11]
  • February 2018: Hogg Robinson Group[12]
  • August 2019: Kanoo Travel[13]
  • June 2019: DER Business Travel[14]
  • October 2020: 30SecondstoFly[15]
  • January 2021: Ovation[16]
  • May 2021: Egencia[17]
  • March 2024: CWT[18]

References

[edit]
  1. ^ "ESG 2020 Report" (PDF).
  2. ^ "About Us". Amex GBT – United States. Retrieved 2022-03-23.
  3. ^ a b "AmEx to acquire rival Rosenbluth". Chicago Tribune. Retrieved 2024-03-07.
  4. ^ Sharf, Samantha. "American Express To Spin Off Business Travel Division Into Joint Venture". Forbes. Retrieved 2022-03-23.
  5. ^ Sharf, Samantha. "American Express To Spin Off Business Travel Division Into Joint Venture". Forbes. Retrieved 2022-03-23.
  6. ^ Ramkumar, Amrith (2021-12-03). "WSJ News Exclusive | AmEx Global Business Travel Going Public Through $5.3 Billion Merger With Apollo SPAC". Wall Street Journal. ISSN 0099-9660. Retrieved 2022-03-23.
  7. ^ "AmEx Global Business Travel to go public via $5.3 bln Apollo SPAC deal". Reuters. 2021-12-03. Retrieved 2022-03-23.
  8. ^ "American Express Global Business Travel Becomes Publicly Traded Company". investors.amexglobalbusinesstravel.com. Retrieved 2022-06-22.
  9. ^ "Amex GBT Acquires KDS". www.businesstravelnews.com. Retrieved 2022-03-23.
  10. ^ "Amex GBT buys Finnish firm SMT: Travel Weekly". www.travelweekly.com. Retrieved 2022-03-23.
  11. ^ Ltd, Jacobs Media Group. "American Express Global Business Travel acquires Banks Sadler". Travel Weekly. Retrieved 2022-03-23.
  12. ^ Whyte, Patrick; February 9th, Skift; EST, 2018 at 5:38 AM (2018-02-09). "American Express Global Business Travel Agrees to Buy Hogg Robinson Group". Skift. Retrieved 2022-03-23.{{cite web}}: CS1 maint: numeric names: authors list (link)
  13. ^ Sheivachman, rew; August 13th, Skift; EDT, 2019 at 12:00 PM (2019-08-13). "Amex GBT Signs Deal With Kanoo Travel in Middle East Push". Skift. Retrieved 2022-03-23.{{cite web}}: CS1 maint: numeric names: authors list (link)
  14. ^ "Amex GBT Acquires German Small & Midsize Enterprise Travel Agency". www.businesstravelnews.com. Retrieved 2022-03-23.
  15. ^ Parsons, Matthew; October 12th, Skift; EDT, 2020 at 8:00 AM (2020-10-12). "Amex GBT Pushes Ahead Into Automated Bookings With a Chatbot Acquisition". Skift. Retrieved 2022-03-23.{{cite web}}: CS1 maint: numeric names: authors list (link)
  16. ^ "Amex GBT Acquires Ovation Travel Group". TravelPulse. Retrieved 2022-03-23.
  17. ^ "Amex GBT Completes Egencia Acquisition". www.businesstravelnews.com. Retrieved 2022-03-23.
  18. ^ "Amex GBT Buys Rival CWT in $570 million deal". www.businesstravelnews.com. Retrieved 2024-03-25.
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