American Express GBT Just Got a Bunch of New Investors — So What Now?
Skift Take
American Express GBT continues to dominate the travel management space, and this new money will only accelerate its growth.
Big, legacy travel management companies are growing, snapping up smaller travel agencies as they seek to expand across the globe. American Express Global Business Travel is the largest of all of these companies — at least when it comes to transaction volume — and it will likely keep its top spot for a while.
The company announced Tuesday it was signing a recapitalization agreement, bringing on a bunch of new investors with new money and new ideas. While American Express still holds a controlling stake in the company, a group of investors led by Certares is jumping on board, bringing the total valuation of the company up to about $5 billion.
