When it comes to business trip bookings, American Express Global Business Travel reports that hotel bookings have recovered more quickly than flights while increased meeting bookings have boosted Amex GBT’s hotel revenue, Skift recently reported.
Amex GBT has been focusing on hotels since buying corporate travel platform Egencia from Expedia Group. Thanks to that deal, Amex GBT, the largest corporate travel agency globally, can now tap into Expedia’s expansive hotel content.
Amex GBT has made it a “strategic priority” to increase content and attachment rates (when a hotel booking is attached to an airline or rail reservation), bringing in all the content from Expedia, CEO Paul Abbott said during a recent earnings call. Amex GBT then displays hotel content in its Neo and Egencia corporate booking tools.
During Q4 2022, recovery of hotel transactions was at 80%, 14 percentage points higher than air.
Higher meeting bookings – particularly for groups of fewer than 50 people – also boosted hotel revenue, with smaller meetings now comprising its fastest-growing business area. Amex GBT’s meetings and events division has more than recovered when compared to 2019 figures.
Read the full Skift article here.