American Express Global Business Travel benefited from “strong” growth from global and multinational clients while the increase in transactions by SMEs remained “muted” during the third quarter.
The company, which is ranked as the largest TMC in Europe, saw its total transaction value (TTV) rise by 9 per cent year-on-year to $7.8 billion in Q3, while revenue increased by 5 per cent to $597 million over the same period, driven by “solid growth in transactions, TTV and increased demand for our products and professional services”.
During an earnings call on Tuesday (5 November), Amex GBT’s CEO Paul Abbot said that TTV growth was outpacing the increase in transactions due to higher average ticket prices and hotel room…