The Conversation: August 2025

Here’s BTN's monthly roundup of business travel and distribution and technology topics as shared on social media channels. In recent weeks, industry insiders discussed the future of Sabre, identity as the missing piece in New Distribution Capability retailing, travel management in AI and the impact of American Express Global Business Travel’s upcoming acquisition of CWT. 

Sabre Scenarios 

Oystin managing director Felix Dannegger on LinkedIn posted a series of Sabre scenarios after the travel technology company saw its stock price drop nearly 40 percent in one day last week. "Airlines around the globe are increasingly uneasy," he wrote. "Some because their core IT system, the #PSS is run by Sabre (either SabreSonic or Radixx). Many others are wary of a potential future where Amadeus remains as the sole healthy #GDS, moving the current oligopoly to a quasi monopoly. … What are the potential futures for Sabre's fortunes?"

Dannegger looked at a union with Travelport, an airline rescue, a reverse acquisition, TMC tech stacks, and what he called “the Trump card,” and invited readers to weigh in with their predictions. 

"Debt relief is Sabre's biggest card to play," replied Rassure director of sales and marketing in Europe and South America Patrícia Mendonça Mendes.

"Selling SynXis and the hospitality arm could slash debt and give it room to breathe. With valuable assets, loyal clients, and improving margins, a bounce back … isn't out of reach. But heavy competition from Amadeus, thinner OTA margins, and high leverage keep the pressure on. A smart merger or acquisition might just be the bold move needed to turn the tide." 

Rehlat supply lead Imran Khan Mohammed noted that a "40 percent drop in a single day for a key GDS player is not just about the stock price, it could change the way the industry works. Airlines, OTAs and TMCs will be watching closely because any shake-up in Sabre's position might affect distribution, fares and system reliability. The next few moves will be very interesting to see."

Identity as the Missing Piece in NDC Retailing 

Sabre head of Central and Eastern Europe Alexey Yanshin posited on LinkedIn that identity is the missing piece in NDC retailing. "With #NDC adoption well underway, we're still stuck at level zero in true personalization." He argued that one big problem is that "despite all the investment in dynamic pricing engines, bundling strategies, and rich content—most #NDC offers are still built for anonymous users. … This strips #airlines of their most critical asset in modern retailing: the ability to differentiate. … Only a few tech-forward TMCs have the capability to build the identity-aware orchestration layers between traveler and airline in the new Offer & Order environment. It's contextual orchestration—and whoever owns the identity, owns the margin." 

Chain4Travel advisor Dirk-Vincent Gemke added that what Yanshin said is true, "from the perspective of travel retailers who, more and more, want to personalise your price (to the level you are willing to pay) rather than your products and services. But customers (will) have a choice when (not) to share with travel retailers, so that they will only be able to personalise what customers want them to personalise. Retailers offering their products and services in the EU need to be able to work with the EU Digital Identity Wallet in 2026, if a customer chooses so. That will 'teach' them to be ready for true personalisation." 

Yanshin responded to Gemke that he hopes the EU digital wallet "will become more than just [a] documents storage and sharing tool. But without deep integration into OTA, GDS, NDC, and corporate booking flows, it will mostly serve as a convenience layer for ID verification and check-in (in travel) rather than a true personalization engine. Adoption speed, interoperability beyond the EU, and industry API readiness will determine if it can move from a 'digital document holder' to a core enabler of tailored travel experiences." 

Agentivity CEO Riaan van Schoor added that "true customer recognition for many TMCs are yet to be capitalised on but the winds of change in corporate travel [are] blowing them steadily there. I agree, of all the players in the chain, it's the agent who sits on the golden pot of data." 

What About Travel Management in AI? 

Agentivity CEO Riaan van Schoor on LinkedIn also brought up the point that TMCs announcing new agentic AI user interfaces should be careful how they talk about it, noting that most cite addressing the pain points of booking and payments. "What about the travel management part? For me, the opportunity sits within talking about the bit you'll do AFTER you've made it easy and seamless for the user to book and pay." 

"What about the cost in time for staff members researching travel … what about the time spent creating and managing travel policies … ha[s] your team found the lowest most suitable prices or just chosen their preferred option … how much time and money is wasted handling changes and cancellations that cannot be serviced by AI or online and money burnt just buying new tickets … Loving AI for efficiencies but a blended approach of AI tech with human care is what TMCs should be focused on. Oh yeah, humans cost money so few will invest in them," replied Robert Kiernan, a Travel Counsellors travel manager.   

Consultant and former CWT executive Martjin van der Voort added that "if the customer experience is great, it really shouldn't matter whether it's delivered by AI or a human."

"Better, if AI can match that level of service, then it makes perfect sense to automate and free people up to focus on higher-value, more strategic work," he continued. 

"The bigger issue is when AI gets layered onto outdated systems. … You're not solving the real problem, you're just masking it. … AI isn't the answer to everything but when used the right way, it can be a huge unblock for both better service and smarter TMC business." 

Amex GBT’s CWT Acquisition: A Coming TMC Tech War? 

Steptoe attorney Travis West, among the team representing American Express Global Business Travel in the U.S. Department of Justice's challenge to its acquisition of CWT, celebrated the DOJ's dismissal of its challenge, paving the way for the merger to close by the end of the current quarter.

"Our team worked hard to achieve this outcome," West said.

Competitors, meanwhile, are sharpening their knives in anticipation of increased request-for-proposal activity as clients navigate a new travel management company landscape.

"With the merger approved, the behemoth grows larger—and so do the hurdles to genuine transformation," TravelPerk senior manager of supplier partnerships Ronny McCabe said.

"A promising sign for the true innovators leading the way," McCabe also noted. 

Talma Travel Solutions CEO Iya Magen said that "size alone doesn't equal transformation." 

"The idea that this changes the power dynamic feels overstated," she said.

"Both GBT and CWT already had leverage with suppliers; the combined entity doesn’t unlock much new on that front. And in terms of operational synergies, they’re both too big, too complex, and too similar." 

SAP Concur head of lodging strategy and supplier management Louis-Hippolyte Bouchayer questioned whether the merger marked the start of "a TMC tech war" as "the market just lost a top-five player and gained a Goliath." 

"While [competitors] sprint, GBT just grew wings," he said. 

Serko VP of strategic industry development and longtime corporate travel tech veteran Johnny Thorsen said his company was ready for "a multi-year innovation battle where the customer and the traveler are the winners."  

"Bring it on, and good luck to both GBT, CWT, Spotnana, Navan and TravelPerk," Thorsen said. 

"The global market is more than big enough to keep everyone busy for many years to come."