American Express
Global Business Travel (GBT) has acquired Ovation Travel Group, a U.S.-based
global company with more than $1.7 billion in annual sales.
Terms of the
deal have not been disclosed.
The purchase
includes all Ovation Travel Group brands, which will remain in place. Ovation
Travel Group and its employees will become a division of GBT’s Global Customer
Partnerships organization.
“Since 1984,
Ovation Travel Group has built a well-deserved reputation for providing leading
travel management services to professional enterprises,” says Paul Abbott, CEO
of GBT.
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“This
acquisition comes at a very difficult time for the industry, and the amazing
people at GBT and Ovation Travel Group continue to operate in an uncertain
environment. We have worked hard to protect our business and our people
throughout this period.
"But as we address short-term challenges, we must
continue to invest for the future and deliver on our long-term strategy. I
believe this deal will enhance the collective value and service we offer
clients, suppliers and partners, and will create real opportunities for
growth.”
Ovation Travel Group says it provides services to more
than 700 clients with more than 300,000 travelers.
“Extraordinary people and a
culture of excellence have served as a solid foundation for providing our
valued clients and travelers with a truly high-touch, personalized experience.
These intrinsic qualities have enabled us to earn their business as their
trusted travel partner for more than three decades,” says Paul Metselaar,
Ovation Travel Group’s chairman and CEO.
“GBT’s 100 years
of service excellence, its values-driven culture and its commitment to leading
the industry complement us on a global scale, giving me huge confidence in the
future.”
There has been a
flurry of activity in the business travel space in recent days. Last week TravelPerk
acquired NexTravel and today TripActions
announced a $155 million Series E funding round.
* Check out this interview with Ovation Travel Group's Paul Metselaar, recorded for the How I Got Here podcast in March 2020.