American Express Global Business Travel Explained

Global Business Travel Group, Inc.
Type:Public
Location City:New York City
Location Country:United States
Area Served:Worldwide
Key People:Paul Abbott (CEO)
Services:Corporate travel management, event management
Num Employees:18,000

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

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

Notes and References

  1. Web site: ESG 2020 Report .
  2. Web site: About Us . 2022-03-23 . Amex GBT – United States . en-US.
  3. Web site: AmEx to acquire rival Rosenbluth . 2024-03-07 . Chicago Tribune . en-us.
  4. Web site: Sharf . Samantha . American Express To Spin Off Business Travel Division Into Joint Venture . 2022-03-23 . Forbes . en.
  5. Web site: Sharf . Samantha . American Express To Spin Off Business Travel Division Into Joint Venture . 2022-03-23 . Forbes . en.
  6. News: Ramkumar . Amrith . 2021-12-03 . WSJ News Exclusive AmEx Global Business Travel Going Public Through $5.3 Billion Merger With Apollo SPAC . en-US . Wall Street Journal . 2022-03-23 . 0099-9660.
  7. News: 2021-12-03 . AmEx Global Business Travel to go public via $5.3 bln Apollo SPAC deal . en . Reuters . 2022-03-23.
  8. Web site: American Express Global Business Travel Becomes Publicly Traded Company . 2022-06-22 . investors.amexglobalbusinesstravel.com . en-US.
  9. Web site: Amex GBT Acquires KDS . 2022-03-23 . www.businesstravelnews.com . en.
  10. Web site: Amex GBT buys Finnish firm SMT: Travel Weekly . 2022-03-23 . www.travelweekly.com . en.
  11. Web site: Ltd . Jacobs Media Group . American Express Global Business Travel acquires Banks Sadler . 2022-03-23 . Travel Weekly . en.
  12. Web site: 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 . 2022-03-23 . Skift . en-US.
  13. Web site: 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 . 2022-03-23 . Skift . en-US.
  14. Web site: Amex GBT Acquires German Small & Midsize Enterprise Travel Agency . 2022-03-23 . www.businesstravelnews.com . en.
  15. Web site: 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 . 2022-03-23 . Skift . en-US.
  16. Web site: Amex GBT Acquires Ovation Travel Group . 2022-03-23 . TravelPulse.
  17. Web site: Amex GBT Completes Egencia Acquisition . 2022-03-23 . www.businesstravelnews.com . en.
  18. Web site: Amex GBT Buys Rival CWT in $570 million deal . 2024-03-25 . www.businesstravelnews.com . en.

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