Sabre and American Express Global Business Travel sign multi-year agreement
GBT will make a multi-million dollar annual investment in the technology development project
Sabre Corporation [NASDAQ: SABR] and American Express Global Business Travel (GBT) today announce their long-term strategic partnership, which will focus on developing technologies that will facilitate the future of corporate travel distribution.
Under the terms of this recently expanded technology partnership, which will take effect in January 2022, GBT will increase its commitment to Saber by making a multi-million dollar annual investment in joint technology development over the next ten years. The partnership between these two industry leaders places both companies in an ideal position to offer the best products and services from the entire corporate travel ecosystem and drive significant growth for the two companies and the travel ecosystem as a whole.
"While our industry was undoubtedly affected by the pandemic, we strongly believe in a strong recovery as time progresses, particularly in corporate travel," said Sean Menke, President and CEO of Sabre. "However, the expectations of corporate and corporate travelers have also changed substantially, so it is likely that the demand for new and differentiated products, designed for the specific needs of travelers, will be further accentuated. Our Strategic partnership with GBT is based on the common beliefs we share regarding technology needs that will allow members throughout the travel ecosystem to meet these new demands.
The two companies will work together to accelerate product innovation and develop a distribution ecosystem that responds to the future needs of both customers and suppliers. This will include collaborating in the development of corporate travel booking capabilities that add more value to customers and suppliers, accelerating marketing and sales solutions, and offering efficient, top-level customer service.
"As industry leaders, GBT and Saber will define the future by developing software and distribution capabilities that guarantee our customers and vendor partners the value, options and experiences they expect," said Paul Abbott, CEO of American Express Global Business Travel. "Combining Saber's content aggregation and sales capabilities with GBT's corporate client software and world-class customer service will enable us to provide corporate travelers with the travel experiences they have come to expect."