Global Business Travel (GBTG) Accumulated Expenses (2021 - 2026)
Global Business Travel's Accumulated Expenses came in at $758 million for Q2 2026, up 48.0% from $512 million a year earlier but down 2.9% from the prior quarter.
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Analysis
Global Business Travel (GBTG) Accumulated Expenses (2021 - 2026) Analysis & Trends
At the end of FY2025, Global Business Travel's Accumulated Expenses was $757 million, up 64.2% from FY2024.
- Accumulated Expenses carries a four-year compound annual growth rate of 9.9% (FY2021 to FY2025).
- Going back by year, Accumulated Expenses was $461 million in FY2024 (-1.1%), $466 million in FY2023 (+3.1%), $452 million in FY2022 (-12.9%) and $519 million in FY2021.
- The five-year range for quarterly Accumulated Expenses is $409 million (Q3 2022) to $781 million (Q1 2026).
- Year-over-year, Accumulated Expenses has increased for five consecutive quarters, with growth averaging 27.0% over the last eight quarters.
- The fastest year-over-year change in Accumulated Expenses over five years came in Q4 2025 (growth of 64.2%), and the weakest in Q4 2022 (a decline of 12.9%).
- Business Quant data shows GBTG's Accumulated Expenses at $781 million (Q1 2026), $757 million (Q4 2025) and $691 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Marriott International | 93.60 Bn | 91.65 Bn | 1.55 Bn |
| 2 | Royal Caribbean Cruises | 74.32 Bn | 71.90 Bn | 2.29 Bn |
| 3 | Hilton Worldwide Holdings | 72.10 Bn | 68.58 Bn | 3.08 Bn |
| 4 | Viking Holdings | 36.31 Bn | 21.43 Bn | 996.62 Mn |
| 5 | Carnival | 34.66 Bn | 27.87 Bn | - |
| 6 | Intercontinental Hotels | 26.64 Bn | 22.19 Bn | - |
| 7 | Trip.com | 24.74 Bn | -20.81 Bn | 1.84 Bn |
| 8 | Hyatt Hotels | 14.98 Bn | 12.46 Bn | 388.00 Mn |
| 9 | H World | 12.83 Bn | 3.76 Bn | - |
| 10 | Global Business Travel | 4.96 Bn | 3.19 Bn | 514.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 758.00 Mn |
| Mar 31, 2026 | 781.00 Mn |
| Dec 31, 2025 | 757.00 Mn |
| Sep 30, 2025 | 691.00 Mn |
| Jun 30, 2025 | 512.00 Mn |
| Mar 31, 2025 | 517.00 Mn |
| Dec 31, 2024 | 461.00 Mn |
| Sep 30, 2024 | 504.00 Mn |
| Jun 30, 2024 | 479.00 Mn |
| Mar 31, 2024 | 526.00 Mn |
| Dec 31, 2023 | 466.00 Mn |
| Sep 30, 2023 | 453.00 Mn |
| Jun 30, 2023 | 447.00 Mn |
| Mar 31, 2023 | 426.00 Mn |
| Dec 31, 2022 | 452.00 Mn |
| Sep 30, 2022 | 409.00 Mn |
| Jun 30, 2022 | 441.00 Mn |
| Dec 31, 2021 | 519.00 Mn |
API Access
Global Business Travel Accumulated Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=GBTG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "accumulated-expenses", "ticker": "GBTG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=GBTG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();