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U.S. Bancorp’s acquisition of expense management software builder and travel agency TravelBank culminates a series of investments to build integrated business software and services, accelerate midmarket demand for banking and payments, and fend off financial technology firms. Banks traditionally picked up small business clients through lending and banking, but a digital revolution has changed that,…
After hitting a 14-year high in 2019, passenger commissions paid by U.S. airlines to travel agencies bottomed out in 2020 along with passenger volumes, and stayed low through the first nine months of last year. The pandemic also changed the passenger mix, as mainly domestic leisure passengers made for a lower-value booking environment. Lower-value bookings…
Delta is always first among publicly traded airlines to report quarterly earnings. Its boss, Ed Bastian, typically talks more about the corporate travel market than peers at other airlines. Thursday offered no exception, as he told Wall Street analysts to expect a strong spring and summer. “While the new variant is not done, it appears…
TravelPerk’s valuation tops $1 billion partly because its per-trip costs are five times lower than those of traditional travel management companies, according to its chief commercial officer. “TripActions and TravelPerk are measured like Software-as-a-Service companies, such as Workday, Slack or Zendesk, and not like an Amex or a more traditional travel company,” said TravelPerk CCO…
[UPDATE, April 25, 2022: Plaintiff Yensy Contreras voluntarily dismissed with prejudice the case against Concur, according to court documents.] SAP Concur’s TripIt website is “not equally accessible to blind and visually impaired consumers,” according to a suit filed Thursday in federal court. The civil action alleges the site violates Title III of the Americans With…
When American Express Global Business Travel last month announced plans to go public during the first half of this year via a merger with a blank check company, it noted a set of “most relevant” publicly traded peer companies. These included the only public travel agency firm totally focused on business, Australia-based Corporate Travel Management,…
It’s a chicken-and-egg scenario as corporate travel management companies face hard decisions on staffing. When clients resume traveling, they need reliable, expert service more than ever. But with demand in doubt, how proactive can TMCs be in bringing back their people and recruiting more? It’s a question that begets more. How have agent roles been…
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