Company type | Public |
---|---|
NYSE: GBTG | |
Headquarters | New York City , United States |
Area served | Worldwide |
Key people | Paul Abbott (CEO) |
Services | Corporate travel management, event management |
Number of employees | 18,000 |
Website | amexglobalbusinesstravel.com |
American Express Global Business Travel (Amex GBT, legally, Global Business Travel Group, Inc.) is a multinational travel management company headquartered in New York City. Amex GBT has 18,000 employees in more than 140 countries. [1] [2] American Express holds a minority interest in Amex GBT, but the travel company operates as a separate entity from the financial services group.
In 2003, Amex GBT acquired Rosenbluth International from Hal Rosenbluth in a "mega deal" that combined two of the top global travel agencies at the time. [3]
In 2014 American Express divested their Global Business Travel division for an investment of $900 million to an investor group creating American Express Global Business Travel. The investment group was led by Certares LP and included Qatar Holdings, Macquarie Capital and funds managed by BlackRock and Teacher Retirement System of Texas. [4] American Express maintained 50-percent ownership of the newly created American Express Global Business Travel (GBT). [5]
In December 2021, American Express GBT announced plans to become a publicly traded company through a business combination with Apollo Strategic Growth Capital, a special-purpose acquisition company (SPAC) backed by Apollo Global Management. [6]
Following the completion of the business combination with Apollo Strategic Growth Capital on May 27, 2022, the company began trading on the New York Stock Exchange on May 31, 2022, with the symbol GBTG. [7] [8]
American Express Company (Amex) is an American bank holding company and multinational financial services corporation that specializes in payment cards. It is headquartered at 200 Vesey Street, also known as American Express Tower, in the Battery Park City neighborhood of Lower Manhattan. Amex is the fourth-largest card network globally based on purchase volume, behind China UnionPay, Visa, and Mastercard. 133.3 million Amex cards were in force worldwide as of December 31, 2022, with an average annual spend per card member of US$23,496. That year, Amex handled over $1.6 trillion in purchase volume on its network. Amex is one of the largest US banks, and is ranked 77th on the Fortune 500 and 28th on the list of the most valuable brands by Forbes. In 2023, it was ranked 63rd in the Forbes Global 2000. Amex also owns a direct bank.
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Accor S.A. is a French multinational hospitality company that owns, manages and franchises hotels, resorts and vacation properties. It is the largest hospitality company in Europe, and the sixth largest hospitality company worldwide.
CWT is a travel management company that manages business travel, meetings, incentives, conferencing, exhibitions, and handles event management.
Hogg Robinson Group was a business active in the insurance and latterly the corporate travel management sectors. It was acquired by American Express Global Business Travel in July 2018.
Alec E. Gores is an American billionaire businessman who began making his fortune through leveraged buyouts of technology firms at the firm The Gores Group. He has also been instrumental in popularizing SPACs, beginning in the mid-2010s.
Apollo Global Management, Inc. is an American asset management firm that primarily invests in alternative assets. As of 2022, the company had $548 billion of assets under management, including $392 billion invested in credit, including mezzanine capital, hedge funds, non-performing loans, and collateralized loan obligations, $99 billion invested in private equity, and $46.2 billion invested in real assets, which includes real estate and infrastructure. The company invests money on behalf of pension funds, financial endowments, and sovereign wealth funds, as well as other institutional and individual investors.
Corporate travel management is the function of managing a company’s strategic approach to travel, the negotiations with all vendors, day-to-day operation of the corporate travel program, traveler safety and security, credit-card management and travel and expenses ('T&E') data management.
The Gores Group, LLC is a private equity firm specializing in acquiring and partnering with mature and growing businesses. The company was founded in 1987 by its CEO and chairman, Alec E. Gores.
Cvent Holding Corp. is a Tysons Corner, Virginia-based company that provides software-as-a-service (SaaS) solutions for meetings, events, and hospitality management. Their web-based platform caters to in-person, virtual, and hybrid events, offering functionalities like online registration, venue selection, event management tools, and attendee engagement features. Cvent also provides software for hotels and venues to manage group bookings, including corporate travel, and source new group business. Previously a public company, Cvent was acquired by investment firm Blackstone Inc. for $4.6 billion in June 2023.
Philip C. Wolf was an American entrepreneur and executive known for his work in the travel, tourism and hospitality industry. The founder and former CEO of travel industry research firm PhoCusWright, Wolf served as board director and advisor to multiple travel and technology companies.
KDS is a SaaS technology provider for online business travel booking and expense management. It is also known as the Neo Technology Group (NTG) since its acquisition by American Express Global Business Travel (GBT). Yves Weisselberger founded the company in 1994 and served as its CEO until 2011. Dean Forbes took the position of CEO after Weisselberger. The company is based in Issy-les-Moulineaux, France with additional locations in Germany, United Kingdom, and the United States of America.
Booking Holdings Inc. is an American travel technology company incorporated under Delaware General Corporation Law and based in Norwalk, Connecticut, that owns and operates several travel fare aggregators and travel fare metasearch engines including namesake and flagship Booking.com, Priceline.com, Agoda.com, Kayak.com, Cheapflights, Rentalcars.com, Momondo, and OpenTable. It operates websites in about 40 languages and 200 countries.
Skift is a travel industry news site. Skift also provides market research and marketing services to the travel industry.
Sonder Holdings Inc. manages short-term rentals, such as apartment hotels, in North America, Europe, and Dubai. It was founded in Montreal, Canada in 2014 and since 2016 has been based in San Francisco, California.
Serko Limited, known as Serko, is a travel management and expense technology company headquartered in New Zealand.
Grove Collaborative is a benefit corporation headquartered in San Francisco. The company is an e-commerce retailer that sells natural household and personal care beauty products.
Vista Global Holding Limited is a private aviation group based in Dubai. It was founded in 2018 by Thomas Flohr.
System1 is an American Internet advertising company. Formerly known as OpenMail, it was founded in 2013.It describes itself as operating a "Responsive Acquisition Marketing Platform", and cites privacy as one of its principal foci, although it has been criticized for its influence on privacy-focussed properties, including search engine Startpage.com.It is headquartered in Marina del Rey, California.
Dean Forbes is a British business executive. He has served as chief executive officer at Forterro, a software solution company which focuses on providing ERP software across Europe, based in London, England since February 2021. Prior to his appointment, he was president responsible for people division at The Access Group, since May 2020. Between 2011 and 2016, Forbes was the CEO at the KDS, a travel and expense management software company, which was acquired by American Express in August 2016. Forbes served at Primavera Systems as vice president for 9 years, from April 2000 until January 2009.
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