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 travellers and corporations have
fundamentally changed; the demand for new, differentiated products that are
designed for specific travellers' 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 in GBT's merger with
special purpose acquisition company Apollo Strategic Growth Capital, which will
take GBT public.