Amex GBT faces tough integration after CWT merger

Scale, customer retention, and AI adoption will shape the next phase

American Express Global Business Travel (Amex GBT) has completed its long-awaited acquisition of rival CWT, but now must tackle the harder task of integration. CEO Paul Abbott expects a 30% revenue boost as synergies take hold, while also navigating customer retention, leadership decisions, and broader industry consolidation. AI and the SME segment are set to play major roles in future growth.

Key takeaways

• Integration challenges: Amex GBT must merge systems, teams, and cultures while keeping CWT customers from defecting.
• Revenue expectations: CEO Paul Abbott projects a 30% revenue boost from the merger starting in late 2025.
• Uncertain brand future: The fate of the CWT brand has not yet been decided as part of the integration process.
• Leadership and layoffs: Some internal leadership decisions have been made, but external announcements remain pending.
• Industry consolidation: Abbott expects more mergers in the fragmented $1.5 trillion corporate travel market.
• SME growth focus: Over half of Amex GBT’s revenues now come from SMEs, with unmanaged business travel a key target.
• AI pilots underway: The company is testing agentic AI and generative AI models to improve customer, traveler, and back-office experiences.
• Challenging macro environment: Slower GDP growth and trade tensions weigh on demand, though conditions are described as stable.

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