American Express Global Business Travel will make a "multimillion-dollar, long-term annual investment" to develop technology alongside Sabre Corp. over the next decade per an expanded partnership between the two companies, Sabre announced Friday.
The expanded partnership will take effect in January. Specifically, Amex GBT and Sabre plan to work together to enhance corporate travel booking capabilities, speed up merchandising and retailing solutions and "enable efficient and superior customer service," according to Sabre.
"While the pandemic undoubtedly challenged the travel industry, we firmly believe in a robust recovery over time, particularly in corporate travel," Sabre president and CEO Sean Menke said in a statement. "However, the expectations of corporate travelers and corporations have fundamentally changed; the demand for new, differentiated products that are designed for specific travelers' needs is likely to be more pronounced. Our strategic partnership with GBT is rooted in the common beliefs we share regarding the technology needs which will enable participants throughout the travel ecosystem to meet these new demands."
Specifics of the amount of the investment were not disclosed. Sabre also is among the new investors announced today in GBT's merger with special purpose acquisition company Apollo Strategic Growth Capital, which will take GBT public.