Who Bought Whom in 2023

As far as merger and acquisition activity in the business travel industry goes, 2023 won't be remembered as particularly frenzied. But while the sheer number of tie-ups may not compare with hectic years past, last year's M&A roster still contained some big deals. 

Cvent, Deem and Tripbam were all on the move, Hawaiian Airlines looks likely to do so, too. (Unlisted below is Choice International's in-progress pursuit of Wyndham Hotels & Resorts.)

The year's business travel M&A landscape also underscored a few other trends.

TMCs further globalize. A few travel management companies in 2023 grew by acquisition, including some that furthered their geographic reach, particularly Navan's acquisition of Bengaluru-based travel and expense management company Tripeur, which the company said will boost its ability to provide online travel management services in India, and Gray Dawes Group's acquisition of Florida-based Express Travel, which allowed the U.K.-based TMC to enter the United States.

Tech firms broaden offerings. A few large travel tech companies notably broadened their offerings, including travel and expense platform Emburse's acquisition of corporate travel reshopping platform Tripbam and global distribution system provider Travelport acquiring corporate travel management platform Deem.

The following are all mergers and acquisitions covered by BTN and sibling outlet The Beat in 2023.

Travel Management Companies
Navan acquired Tripeur
Clarity Business Travel acquired Agiito
Gray Dawes acquired Express Travel and MP Travel
Tower Travel Management "joined" Frosch
InteleTravel acquired Hickory Global Partners

Aviation
Alaska Airlines agreed to acquire Hawaiian Airlines

Lodging/Event Venues
Blueground acquired Nestpick and Travelers Haven
Convene acquired Etc.venues

Travel Technology
Emburse acquired Tripbam
Travelport acquired Deem
ATPCO acquired 3Victors
Snowfall acquired AmigoGo
Wings Global Travel acquired Alchimea
CDS Groupe acquired Corporate Rates Club
Mondee acquired Orinter
OAG acquired Infare

Payment and Expense
SEB Kort Bank AB acquired AirPlus
American Express acquired Nipendo

Meetings Technology
Blackstone acquired Cvent
Swiss Post acquired a majority stake in SpotMe

BTN sibling publication BTN Europe covered several additional deals in 2023. Read about them here.

Who Bought Whom in 2022