American Global Business Travel (Amex GBT) is projecting 6-9% revenue growth in 2024, driven by expected stable growth in business travel and continued share gains, according to a fourth quarter of 2023 report. The company also expects that margin expansion, focus on productivity and leveraging automation and AI will deliver 18-32% adjusted EBIDTA growth this year to $450-$500 million.

That forecast would build on a strong financial performance in the fourth quarter of 2023,with $549 million in revenue and $80 million in adjusted EBITDA, growing 83% year-over-year. The full year performance saw 24% revenue growth and 269% adjusted EBIDTA growth to $380 million.

The company also reported a total new wins value of $3.5 billion, including $2.2 billion from small-to-medium-sized enterprises (SMEs) and a 96% customer retention rate for the full year.

Paul Abbott, CEO, said the company expects to generate18-32% adjusted EBIDTA growth in 2024 “as we settle into a more stable level of industry growth. We expect 2024 will be another year of share gains, strong growth in profits and cash flow and continued margin expansion.”