A shake-up at the top of corporate travel is underway
🌐 Nov 28, 2025 - Amex GBT, the largest TMC, considers a sale, marking a shift in the corporate travel landscape. After a major acquisition, Amex GBT faces structural pressures with a 30% valuation drop since its 2022 SPAC debut. Potential buyers, including SAP Concur or Google, might drive digital transformation. AI and tech-first competitors like Navan are disrupting traditional models. Hotels face new challenges and opportunities as TMC consolidation influences negotiation dynamics. The industry is undergoing a structural transformation driven by technology.
Share
