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CWT is B2B4E

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Through our years of serving our clients in business travel, meetings & events, and hotel distribution, we know that delivering a truly memorable experience doesn't stop with our clients - it's all about their employees. We call this concept B2B4E: “business to business for employees”.

What we do for the employees of our clients is what we strive to do every day for our own people through our culture. In everything we do, we seek to be performance-driven, innovative, empowered and customer-focused. These four attributes form the foundations of CWT culture and they shape the daily experiences of our employees, as well as those of our clients and travelers.

Our culture is a give-and-take arrangement: the more you engage in it, the more you’ll get out of it. We actively look for the sort of people who bring a positive attitude to work with them. It’s reflected in the atmosphere in our offices and contact centers, and the dynamic between colleagues. Our people want to be here, and it shows.

Our people, our priority

Our philosophy of B2B4E – business to business for employees – is testament to the fact that, at CWT, people do come first. This approach isn’t limited to our travelers; it starts and ends with our own employees. That’s why it’s so important to us that we provide an environment in which our people can genuinely enjoy their work.  

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AmexGBT buys rival CWT for $570mn in bet on business travel

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Philip Georgiadis

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

American Express Global Business Travel has agreed a $570mn deal to buy rival CWT, in a bet on the continued recovery of business travel following the pandemic. 

AmexGBT, which offers booking and management services for corporate travel , said the deal would add 4,000 new clients to its current tally of 20,000. Its existing customers include Google, Aon and Bank of America.

The acquisition comes at a time of growing competition and consolidation as the industry looks to move beyond the disruption of the pandemic.

The Global Business Travel Association last year forecast that corporate travel spending would recover to its pre-pandemic total of $1.4tn in 2024 and grow to nearly $1.8tn by 2027.

Paul Abbott, AmexGBT’s chief executive, told the Financial Times that he was bullish on the prospects for the business travel market, claiming it had a “massive runway for growth”. 

But the recovery has been uneven, with many large airlines reporting a significant downturn in spending by corporate clients, even as hotels and events reliant on businesses have recovered more rapidly.

Abbott said the recovery had been led by small- and medium-sized companies, but that he expected more large corporates to catch up this year.

“I think what we’re going to see this year is a much more balanced picture. I think we’re going to see global multinational customers with healthy growth rates in a more stable growth environment,” he said.

Abbott added he expected consolidation to continue in a “very large, fragmented and growing industry”. 

New York-listed AmexGBT bought booking platform Egencia from Expedia in 2021 in a deal valuing the business at $5.5bn, while rival TripActions, now called Navan, acquired UK-based specialist Reed & Mackay for more than $250mn in the same year.

AmexGBT was spun off into a joint venture in 2014 by American Express, and the company went public via a merger with a blank cheque company backed by Apollo Global Management in 2022.

The cash-and-stock deal for CWT is expected to close in the second half of the year, AmexGBT said.

Abbott said the industry needed to consolidate as clients were demanding increasingly sophisticated digital tools when managing their travel.

“The level of investment that is required to meet customer expectations going forward is significant, and a big part of those customer expectations are the best people, but also the best technology, the best software and services delivered consistently on a global basis,” he said.

Patrick Andersen, CWT’s chief executive, said: that “joining forces with AmexGBT helps accelerate our vision of a tech-enabled future for business travel”.

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Business Traveler Services

Providing an easy, friendly and personalized traveler experience.

People are the heart of our business traveler services

Your people are going to love ours

Every company says it has the best people. You should meet ours. Our people are at the heart of our business traveler services, well-trained professionals in the travel industry. And of course, they’re friendly too!

CWT’s travel counselors go beyond simply making reservations to take a consultative approach to service that helps solve your business travelers’ problems. Each of our travel counselors is committed and empowered to get the job done and take care of your employees’ needs , whether they are taking a phone reservation or assisting with an online booking.

Our staff members behind the scenes are just as passionate and committed to supporting amazing traveler service as those on the front line. Moreover, our quality assurance processes and customer service culture help us continually meet your company’s evolving travel management needs and satisfy your employees.

Providing global consistency while addressing local nuances

CWT’s global traveler services team helps you manage your travel program across geographies, no matter how complex. When we established a truly global traveler services organization more than a decade ago, we blazed a trail that others could only follow. With a proven track record of success in all regions, you and your employees benefit from our experience implementing and providing business traveler services for companies of nearly all sizes and locations.

Our organizational structure and leadership support global consistency in operations, service delivery and processes so that your employees receive high-quality service and information, no matter how they interact with us—online, offline or on mobile. Our knowledge of local nuances and geography enhance our ability to look after your employees locally, supporting them through multilingual business traveler service, market leadership, and regional expertise and resources.

Business traveler services help save the day 24/7

With flexible service configuration options, you can maximize your travel program’s performance while giving your employees access to CWT travel counselors. Our wholly owned 24-hour service network can provide your travelers and travel arrangers with the service they need on weekends, on holidays or after hours—even when it isn’t an emergency. Our 24/7 business traveler services team supports local language and content needs to help you keep your employees happy.

Traveler services technology delivers personalization, facilitates accuracy

CWT’s technology facilitates reliable, precise traveler service while delivering personalization, data accuracy, streamlined processes and more. Deployed in all regions, our traveler service technology tools provide seamless integration—from caller recognition and traveler profiles through travel policy , booking and ticketing—to enhance the traveler experience.

A single, configurable global database helps ensure immediate and simultaneous deployment of any travel policy changes. The database also powers CWT’s proprietary counselor desktop enabling our travel counselors to capture all required information and follow your travel policy. Travel policy integration at point of sale helps your employees stay compliant, and helping your company save money. Our traveler services technology also gives our counselors valuable, integrated content applicable to your program and drives workflow accuracy.

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Business Travel Agency

Put the power of one of the world’s leading corporate travel agencies to work for you.

Making the most of corporate travel agency services

CWT understands that the relationship between organisations and their travelling employees is changing. Your employees need business travel agents who can help them stay productive, get the best prices, and make travel easier for them. Your organisation needs a corporate travel agency that helps you manage your travel program effectively, including:

• Getting started
• Engaging travellers
• Staying overnight
• Managing risk
• Delivering travel ROI
• Driving action
• Managing meetings

CWT, one of the world’s leading business travel agencies, provides world-class corporate travel management fuelled by decades of experience, our amazing corporate travel agents and backed by award-winning technology. Our organisation focuses on the business of business travel—so you and your employees can focus on your company’s business.

We make business travel easier for your employees

• Easy bookings on one, integrated platform that offers corporate travel agency services via mobile, online or phone.
• Single platform for business-relevant flights, trains, car rentals and hotels no matter which booking channel they choose.
• Consistent service in ~150 countries around the world by corporate travel agents
• Price Tracking technology, helps travellers take advantage of price drops even after they’ve booked their airline ticket or hotel room.
• Proven best hotel rates —with a Best Rate Guarantee on our specially negotiated deals
• Highest rated mobile travel app of any travel management company or third-party—on both iOS and Android platforms.  

We help you manage corporate travel better

• Online, 24/7 access to an award-winning travel management command center .
• Shareable reports and graphics to help you win over key stakeholders and showcase your value.
• Automated messaging to help you improve communications to travelling employees, helping you improve policy compliance and give your employees helpful information.
• Traveller tracking available 24/7 through interactive maps and enhanced risk management services.
• An array of tools, services and processes that support travel policy compliance.
• New insights and savings opportunities recommended based on your company’s specific travel data.

Reach out to CWT today to discuss a travel program

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Travellers: Please manage your travel here . The below form is for inquiries about our corporate travel management offering.

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Thank you for your interest in CWT, we will contact you soon.

Amex GBT Agrees to Purchase CWT for $570 Million

A merican Express Global Business Travel is betting big on business travel's recovery post-pandemic, announcing plans to acquire rival CWT for $570 million .

The cash-and-stock acquisition, which must be approved by shareholders and regulatory authorities, is expected to close sometime in the second half of 2024.

The deal would add 4,000 new clients for Amex GBT, which anticipates CWT to generate approximately $850 million in revenue this year. The two companies ranked inside the top five on Travel Weekly's most recent Power List .

"Bringing CWT onto the proven Amex GBT software and services model will create more choice for customers, more opportunities for people and more value for shareholders," Amex GBT CEO Paul Abbott said in a statement.

"Joining forces with Amex GBT helps accelerate our vision of a tech-enabled future for business travel, where people and technology combine to deliver an exceptional customer experience," added CWT CEO Patrick Andersen. "We are highly confident in the value creation of the combined company."

According to a recent forecast from the Global Business Travel Association (GBTA), corporate travel spending is expected to recover to its pre-pandemic total of $1.4 trillion in 2024 and grow in the years to come.

Amex Global Business Travel Sees Big Gains From Tech Customers

Dennis Schaal , Skift

May 7th, 2024 at 4:52 PM EDT

Big companies are on the move again, but the business travel growth engine — small- to medium-sized businesses — took a step back because of high interest rates and inflation.

Dennis Schaal

Much of the discussion about business travel revolves around large corporations that have strict managed-travel policies. They require employees to book trips through sanctioned tools and at hotels and airlines that give corporations volume discounts.

In the first quarter, those corporations delivered significant gains for American Express Global Business Travel, the world’s largest travel-management company.

AmexGBT saw strength in transactions from global multinational corporations — tech companies in particular, with 30% growth. Other sectors turned in double-digit growth too, including pharmaceuticals, mining, energy and utilities.

But there was a downside: Small- to medium-sized businesses offer the largest opportunity in winning new business and they showed a decline in transaction growth of 3 percentage points in the fourth and first quarters.

These smaller businesses spend $30 million or less on travel annually and mostly let their employees book wherever they want.

They may not need a travel management company like Amex GBT. What’s more, they’ve been hit hard in recent months by higher inflation and interest costs, leading to tighter travel budgets.

Amex GBT CEO Paul Abbott told analysts during the earnings call Tuesday that of the $900 billion in total transaction value in play in business travel annually, “$300 billion sits with, if you like, professional managed-travel programs, and $600 billion in unmanaged.”

The entire business travel market is worth $1.4 trillion, he said, and “SME is the biggest opportunity within that.”

Amex GBT Is Poised to Acquire CWT in the Second Half of 2024

The earnings call took place with some unfinished business on the agenda — the $570 million acquisition of CWT , which officials said is poised to close in the second half of 2024.

Abbott said the companies’ integration teams are “established.”

He said the acquisition would increase company revenue by one-third and it would have the potential to be a “significant” contributor to earnings in the long run. There would be $155 million in “annual run rate cost synergies,” Abbott said. Meaning layoffs and trimming other redundant operations.

American Express Global Business Travel stated that a recent survey of its top 100 customers found they expect their travel spend to rise 8% in 2024.

Net Loss Narrowed, Positive Free Cash Flow

In the first quarter, the company narrowed its net loss to $19 million from a loss of $27 million in the year-ago period.

Revenue rose 6% in the first quarter to $610 million.

One of the brighter metrics was that free cash flow hit $24 million in the first quarter, up from minus $109 million a year earlier.

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Tags: AmexGBT , business travel , corporate travel , cwt , earnings , hotels , mergers , mergers and acquisitions , Travel Trends

Photo credit: A business traveler about to catch a flight. Pxfuel