Skift Take

Expedia Group's equity stake in American Express Global Business Travel has taken a shellacking to date, but other aspects of the deal have long-term benefits.

Dennis Schaal

Expedia Group frequently talks up the benefits of its sale of corporate travel agency Egencia to American Express Global Business Travel. Benefits include: A 10-year pact to supply Amex GBT with lodging inventory, and Expedia's equity stake in it, initially valued in 2021 at $815 million.

But in 2023, Expedia Group recorded a $26 million loss on the fair value of that stake in Amex GBT, and that came on top of a $300 million loss in 2022, according to a recent financial filing.

Expedia confirmed Monday that the fair value of its equity stake in Amex GBT was around $490 million at the end of 2023 — a 40% plunge.

That loss will not shake the financials of Expedia Group, which notched $797 million in net income in 2023 on $12.8 billion in revenue.

Expedia's deal to se