Expedia will sell Egencia corporate travel unit to American Express Global Business Travel
May 4, 2021 at 10:56 am
The news: Seattle travel giant Expedia announced Tuesday that it has agreed to sell its corporate business arm Egencia to American Express Global Business Travel. Both companies offer tools for business travel management. Financial terms of the deal were not disclosed.
Travel trends: It’s unclear how business travel will bounce back from the pandemic, with many executives citing cost savings from video meetings and a push to reduce carbon emissions.
Expedia’s B2B unit, which includes Egencia, saw revenue sink 64% to $942 million in 2020 as the pandemic roiled the travel industry. B2B made up 18% of Expedia’s total revenue last year.