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.
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.
“We are thrilled by the potential transaction and what GBT and Egencia could achieve together, as Expedia Group seeks to simplify our business and be a leader in all of our endeavours,” President of Expedia Business Services Ariane Gorin said in a statement.