This week’s Update features multiple stories and perspectives on AmexGBT’s newly announced acquisition of CWT and Booking.com’s decision to drop its own sustainability ratings. I hope you enjoy.
- AmexGBT Set to Acquire Rival Travel Management Company CWT. First the details . . . According to AmexGBT CEO, Paul Abbott, the $570 million acquisition will allow AmexGBT to grow its corporate customer base by 4000 customers and will increase AmexGBT’s transaction volumes and revenues by 45% and 33%, respectively. Other announced benefits include growth in certain key customer segments (energy, resources, marine and media, among others) and growth in AmexGBT’s small and medium sized enterprise (SME) business (a focus historically for both AmexGBT and CWT). Increased automation and the leveraging of the AI technologies behind CWT’s myCWT platform are also among the other proposed benefits. So what does this proposed merger between travel giants mean for others in the travel…