New 3-Year American Express Global Business Travel (AEGBT) Agreement Signed
We are pleased to share that Marriott International signed a new three-year agreement, effective in June, with American Express Global Business Travel (AEGBT). The new terms further our progress related to Marriott’s Global Distribution Strategy, including our priorities to reduce intermediary costs and engage our partners to support our efforts to increase Marriott Rewards enrollment. Additionally, this new agreement is expected to create new opportunities for AEGBT to drive additional business to Marriott’s portfolio of hotels.
Background
As Marriott’s third-largest intermediary partner, AEGBT generates more than $1 billion in bookings annually and is our largest partner among travel management companies (TMC) and travel agencies. AEGBT was recently spun off from the American Express credit card business to private equity owners; this new leadership and a capital infusion are allowing AEGBT to evolve its business model amid competition from OTAs and other technology companies.
What’s Next?
We are now working with AEGBT on a number of proofs of concept intended to identify, test, develop, and activate new opportunities that could increase business and find new areas of efficiency for both AEGBT and for Marriott-branded hotels. Additional details will be provided over the coming months as solutions are developed and launched. Additional details about AEGBT are available on MGS.
