American Express Global Business Travel (GBT) has acquired Ovation Travel Group and its brands, including Lawyers Travel and Chartwell Travel, GBT announced on Thursday.
The financial terms of the deal were not disclosed, however.
New York-based Ovation and its employees will become a division of GBT's Global Customer Partnerships organization, with the agency's management team remaining in place along with its brands.
The deal is notable in that Ovation boasts more than three decades of history providing business travel services and luxury travel experiences and so the acquisition is undoubtedly a boost for GBT.
"Since 1984, Ovation Travel Group has built a well-deserved reputation for providing leading travel management services to professional enterprises," GBT's CEO Paul Abbott said in a statement following Thursdays' announcement. "This acquisition comes at a very difficult time for the industry, and the amazing people at GBT and Ovation Travel Group continue to operate in an uncertain environment."
"We have worked hard to protect our business and our people throughout this period. But as we address short-term challenges, we must continue to invest for the future and deliver on our long-term strategy," he added. "I believe this deal will enhance the collective value and service we offer clients, suppliers and partners, and will create real opportunities for growth."
"Extraordinary people and a culture of excellence have served as a solid foundation for providing our valued clients and travelers with a truly high-touch, personalized experience. These intrinsic qualities have enabled us to earn their business as their trusted travel partner for more than three decades," Ovation Travel Group's Chairman and CEO Paul Metselaar said in a statement. "GBT's 100 years of service excellence, its values-driven culture, and its commitment to leading the industry complement us on a global scale, giving me huge confidence in the future. I am delighted we are joining the GBT family."
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