American Express Global Business Travel (GBT) plans to launch a “next-gen” version of Egencia early in 2026, building on its integration plans with SAP Concur Expense, the company said in a third quarter earnings statement. Egencia is GBT’s corporate travel management platform.
The new Egencia iteration will include “new agentic AI search” and a “redefined customer experience” in addition to the Concur Expense integration, which is part of the strategic alliance announced with SAP Concur last month, CEO Paul Abbott said in an earnings call. Meanwhile, he said, the first customers began using the integrated travel and expense offering with Amex GBT and Concur, Complete last week.
Amex GBT’s acquisition of CWT, completed in early September, resulted in a jump in revenue and total transaction value in the third quarter. Revenue was up 13% year over year to $674 million. Excluding the growth from the CWT acquisition, revenue was up 3% year over year, which the company said was “in line with expectations.”
Transactions were up 19% year over year for the third quarter and up 4%, not including CWT. That 4% was evenly divided between new customers and increased business from existing clients, according to Abbott.
Amex GBT’s total transaction value increased 23% year over year to $9.5 billion. Excluding CWT, the increase was 9% year over year, “driven primarily by higher average ticket prices and hotel room rates in addition to transaction growth and a favorable [foreign exchange] impact,” Abbott said.
Karen Williams, CFO, said the company is on track to meet its goal of $155 million in “synergies” — including workforce reductions along with consolidating real estate and vendor savings — from the CWT acquisition over the next three years. The company expects to achieve $55 million of that by the end of 2026, including $5 million by the end of this year.
Abbott said the company is “cautiously optimistic” in terms of organic growth in 2026, with most clients in its most recent survey saying they expected to hold travel budgets steady or slightly increase them for the year. He also said the company has seen a “noticeable increase” in meetings and events. In the last quarter, Abbot said, “we’ve seen a double-digit increase in the number of forward bookings for meetings and events into 2026.”
Amex GBT reported a net loss of $62 million for the third quarter, an improvement from a net loss of $128 million in the third quarter of 2024.
