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Amex GBT's $570M Acquisition of CWT Reshapes Business Travel Industry

American Express Global Business Travel (Amex GBT) has entered into a definitive agreement to acquire CWT, a global business travel and meetings solutions provider, in a transaction valued at approximately $570 million. The acquisition is expected to close in the second half of 2024 and will be funded by a combination of stock and cash. After the acquisition, CWT customers will have access to Amex GBT’s proprietary software and services, and the combined company is expected to generate significant synergies. Amex GBT will hold an investor conference call on March 25, 2024, to discuss the acquisition.

1 year ago•Source: Business Wire

business-travel

1.58 min•1 year ago

"Major US Airlines Raise Baggage Fees and Change Loyalty Point Rules"

United Airlines is raising the price to check bags for economy passengers on domestic flights, with the cost of a first checked bag increasing by $5 to $40 at the airport or $35 if prepaid online, and a second checked bag costing $50 at the airport or $45 in advance. This follows American Airlines' recent fee hike, as airlines seek to boost profits amid rising costs, with JetBlue and Alaska Airlines also raising bag fees this year. Certain travelers, such as credit card holders and frequent flyers with elite status, are still eligible to check a bag for free.

via CNBC

Airbnb's Optimistic Revenue Outlook Despite $349 Million Italian Tax Dispute

business-travel

2.51 min•1 year ago

Airbnb's Optimistic Revenue Outlook Despite $349 Million Italian Tax Dispute

via Yahoo Finance

Featured Business Travel Stories

Amex GBT's $570M Acquisition of CWT Reshapes Business Travel Industry

"Major US Airlines Raise Baggage Fees and Change Loyalty Point Rules"

Airbnb's Optimistic Revenue Outlook Despite $349 Million Italian Tax Dispute

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