What an Amex GBT-CWT Merger Means For Expedia and Booking.com

Corporate travel could get complicated: Expedia Group has a big stake in Amex Global Business Travel. Booking.com is partners with CWT. What happens to those relationships if the merger between Amex GBT and CWT goes through? Amex GBT CEO Paul Abbott specifically noted CWT's ties to Booking.com for Business as an upside to the deal as it tries to reach more small businesses customers.

"As you know, SME (Small and Medium Enterprise) is an important strategic focus area for us," Abbott said in a conference call Monday to explain the proposed merger. "And it also represents an important strategic focus for CWT, who have been focused on expanding further in this area including a relationship with Booking.com for Business...."

Expedia Group, one of Booking.com's largest rivals, had a 16% stake in Amex GBT at the end of 2023. Expedia