JPMorgan Chase agreed to acquire Frosch, a large travel agency with a mix of corporate business, independent contractors and technology, according to a Wednesday report in The Beat. Frosch officials declined to comment on the report, which cited an internal memo, but redirected an inquiry to a spokesperson for JPMorgan Chase. The official had not…
Demand for corporate travel lodging is accelerating but it’s not just volume that’s closing in on familiar territory. Average rates and the brands getting bookings also look more like they did in 2019, according to Tripbam data presented this month. “We are seeing a rapid increase in rate,” said Tripbam CEO Steve Reynolds during his…
Business spend management firm Coupa Software planned Tuesday to unveil a new travel solution, integrated with its existing expense software and backed by Travel Leaders Corporate for fulfillment, support and preferred rates. Coupa is open to partnerships with other travel management companies to meet client needs. Based largely on technology from recent acquisitions, the new…
The gasps weren’t merely audible — they were loud. Business travel buyers on a recent conference call heard the rumor that Scott Solombrino was to receive several million dollars. But why? After GBTA on Thursday confirmed the $5 million payoff, a spokesperson for the board said the organization could offer no details beyond its prepared…
The Global Business Travel Association’s separation agreement with former CEO Scott Solombrino, who left in 2020 following a misconduct investigation, earned him more than $5 million. The nonprofit revealed the expenditures on Thursday in a 2020 tax statement that is open to public inspection under Internal Revenue Service regulations governing tax-exempt organizations. He also received…
The cost of sustainability is beginning to hit corporate travel more directly. Air France and KLM in January initiated a Sustainable Aviation Fuel surcharge on all tickets for flights departing France and the Netherlands. It ranges from 1 euro to 12 euros, based on distance flown and class of service. Isolated reports of hotel properties…
American Express Global Business Travel during the fourth quarter created a unit called Partner Solutions to bring its relationships with other travel agencies “under one banner.” It’s well known that to serve multinational accounts, GBT partners with agencies in countries where it does not own operations. The GBT Partner Solutions staff also is approaching regional…
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