2023 sales: $28.2 billion
Previous ranking: 3
Employees: 19,000 employees; undisclosed part-time employees
666 Third Ave., Fourth Floor
New York, New York 10172
Phone: (212) 329-7200
Website Executives
CEO: Paul Abbott
PRESIDENT: Andrew Crawley
CFO: Karen Williams
COMPANY FACTS
* Publicly held company.
* A software and services company for travel, expense and meetings and events.
2023 DEVELOPMENTS
* Brought NDC content to corporate customers through its agents and proprietary tools.
* Launched a global accessibility solution for business travelers, with IBM as the first customer.
* Was awarded a patent for its AI-powered customer-satisfaction engine, its fifth patent in total.
* Clients Bank of America and Google joined its corporate sustainable aviation fuel (SAF) program. More than 1 million gallons of SAF have been injected into the system by Shell Aviation on behalf of Amex GBT clients and airlines since the program's launch in June 2022.
* Achieved an EcoVadis Platinum medal for the second year in a row for its environment, social and governance standards, placing it in the top 1% of independently assessed companies in the world.
* Launched carbon pricing for business travel, enabling clients to grow a green fund for sustainability initiatives.
* Announced a partnership with Airlink to help first responders travel more quickly to disaster zones.
LOOKING AHEAD
* Announced in March that it is acquiring CWT for $570 million in cash and stock. Each company's board of directors has approved the deal, and the transaction is pending approval of shareholders and regulatory authorities.
* Expanding the availability of NDC content to corporate travel programs. With 10 airlines now onboard, company is working with another 20 airlines on their air distribution programs.
* Launching an AI initiative and dedicated team for adopting next-generation AI, focusing on service, finance, engineering and the broader workplace.
* Launching a new integration with Amex card in Neo1, the Amex GBT spend management platform, to help small and medium-size businesses control indirect spend, manage expenses and book travel.
* The company believes that distributed teams and hybrid work models continue to create new business travel and meetings and event demand. It predicts that internal meetings will continue to show the strongest growth.
* New legislation, regulations and companies facing 2030 sustainability commitment deadlines will drive demand for sustainability solutions.
* Expects business travel tailwinds to continue in a more stable growth environment in 2024. Business travel demand from its premium customer base is expected to grow above GDP, as it has done consistently for several decades prior to the pandemic. The biggest growth opportunity remains in the SME customer segment, which represents approximately $950 billion of travel spend -- of which an estimated 70% is unmanaged.