American Express Global Business Travel has completed the acquisition of Egencia.
The deal, first announced in May, sees Egencia’s former parent, Expedia Group, become a shareholder in GBT, while Expedia has entered into a long-term agreement to provide accommodation supply to Amex GBT.
In an announcement on Tuesday, GBT said it will “accelerate investment in the Egencia brand, its people and technology”.
It confirmed that Egencia President, Mark Hollyhead, will continue to lead the Egencia business reporting directly to GBT CEO Paul Abbott and will join GBT’s executive leadership team.
Abbott said: “Bringing GBT and Egencia together will create a winning formula that will define the future of travel. We will provide unrivalled value, choice and experiences to customers. Unrivalled value because together we’ll have the best content and deliver the best savings. Unrivalled choice because no one comes close to the breadth and depth of solutions we will offer. And unrivalled experiences because we have the best people and technology in the industry.”
Hollyhead said: “Today is a significant moment in realising the next important chapter for Egencia. Becoming part of an organisation totally focused on business travel will accelerate Egencia’s growth and amplify what we do best – offer technology-driven solutions that address the ever-evolving needs of business travel and its many stakeholders.”
Ariane Gorin, President, Expedia for Business, added: “We are pleased to see Egencia grow with this new opportunity, especially as business travel comes back.
“Closing this deal, including our long-term agreement to provide lodging supply to GBT, is an important step forward in our ambition to power the entire travel ecosystem and help all of our partners achieve their goals.”