Expedia Recorded $326 Million in Losses on Its Stake in Amex Global Business Travel Group
Skift Take
Expedia Group frequently talks up the benefits of its sale of corporate travel agency Egencia to American Express Global Business Travel. Benefits include: A 10-year pact to supply Amex GBT with lodging inventory, and Expedia's equity stake in it, initially valued in 2021 at $815 million.
But in 2023, Expedia Group recorded a $26 million loss on the fair value of that stake in Amex GBT, and that came on top of a $300 million loss in 2022, according to a recent financial filing.
Expedia confirmed Monday that the fair value of its equity stake in Amex GBT was around $490 million at the end of 2023 — a 40% plunge.
That loss will not shake the financials of Expedia Group, which notched $797 million in net income in 2023 on $12.8 billion in revenue.
Expedia's deal to se
