American Express Global Business Travel

Credit Rating Agencies Weigh In On Amex Global Business Travel Outlook

Credit Rating Agencies Weigh In On Amex Global Business Travel Outlook

American Express Global Business Travel’s credit metrics are expected to improve over the next year to 18 months thanks to continued business travel recovery, synergies from the CWT acquisition and a commitment to cutting debt. Fitch Ratings, Moody’s Ratings and S&P Global each issued updates this month. High client retention and diversification among customer industries…

Serko Hires Holyoke For Unmanaged Travel As TMC Consolidation Rattles U.S. OBT Prospects

Serko Hires Holyoke For Unmanaged Travel As TMC Consolidation Rattles U.S. OBT Prospects

Booking tool builder Serko plans to announce it hired David Holyoke as head of unmanaged travel. Most recently in commercial strategy at Airbnb, Holyoke left the home-sharing firm in April, according to his LinkedIn profile. He previously served as president of Travel Leaders Corporate, which he left in 2016. Publicly traded Serko sees unmanaged business…

Dispatch 12
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Dispatch 12

After announcing a few in March, SAP Concur added several enhancements to the roadmap for its upgraded online booking tool, including the ability to change ticketed air trips in Sabre, scheduled for release during the quarter ending in September. Planned for the current quarter is the capability for reservation holds on EDIFACT-based Sabre bookings. The…

Travel Management Companies Rethink Spotnana Following Direct Travel Buy
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Travel Management Companies Rethink Spotnana Following Direct Travel Buy

Direct Travel’s acquisition by investors led by Steve Singh is a bold move that comes with risks. Spotnana, in particular, already faced sticking points on the economics of collaboration with travel management companies. One of the largest TMCs familiar with those issues has called the Direct Travel buy a game changer. “They have moved, from…

Travel Management Companies Race To Meet AA’s NDC Targets, Sort Out Client Fees
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Travel Management Companies Race To Meet AA’s NDC Targets, Sort Out Client Fees

[UPDATE, April 23, 2024: American Airlines delayed new restrictions on how travelers can earn loyalty program points, to July 11 from May 1. The rules will affect some bookings through agencies AA does not qualify as “preferred.” According to a spokesperson, “This extension gives an opportunity for those agencies to complete the transition. We’ll continue…

American Express GBT CEO Abbott: CWT Acquisition Targets Non-Customer Costs
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American Express GBT CEO Abbott: CWT Acquisition Targets Non-Customer Costs

American Express Global Business Travel announced Monday it agreed to pay about $570 million to buy CWT using stock and cash on hand. The companies expect the deal to close in the second half of this year, subject to regulatory approvals in multiple jurisdictions and the satisfaction of other closing conditions. If it does, GBT’s…

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