Expedia completes the sale of Egencia to Amex Global
In November 2021, Expedia announced that it had completed the sale of its corporate travel business, Egencia, to American Express Global Business Travel (GBT). As part of the transaction, Expedia not only became a shareholder, taking 14.0% ownership in GBT, but also entered into a long-term contract to provide accommodation supplies to them as well. This sale and transaction will be integral to the company moving forward as it enables Expedia to simplify its company mission and continue to focus on its core business-to-business and business-to-consumer segments.
Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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