AMEX GBT acquires top Middle East TMC
By Sasha Wood, published 16/8/19
American Express Global Business Travel (GBT) has acquired a controlling stake in Kanoo Travel, one of the leading travel management companies in the Middle East.
The Big Four TMC will form a joint venture with Kanoo’s parent company to provide travel management services in the region.
Kanoo Travel has been a key member of GBT’s global travel partner network for many years, and operates in the United Arab Emirates, Saudi Arabia, Qatar, Bahrain and Oman.
GBT will hold 65% of the new joint venture, headquartered in Dubai, and assume management and operational control of the business and its 539 employees. Kanoo Group will hold the remaining 35% stake in the joint venture.
GBT’s International Managing Director, Elyes Mrad, said: “Kanoo Travel has been a trusted, long-term partner for GBT in the region for many years and is known and respected by many of our clients.
“The creation of the joint venture will enhance how we service those clients and their travellers by combining Kanoo’s region-specific expertise with the backing of GBT’s global scale and technology.”
AMEX GBT is one of the world’s largest business travel brands, employing more than 17,000 travel professionals in more than 140 countries.
In another acquisition, as the current trend for TMC mergers continues, travel management giant BCD Travel recently acquired Adelman Travel Group – one of the largest full-service travel management companies in North America.