Permira-Backed Engine Buys Options Travel to Build Corporate Booking Tool
Travel startup Engine has acquired corporate travel management company Options Travel to build an advanced, AI-driven booking tool for business travelers.
Stock photo for illustration only, not from the actual event
- Engine is acquiring TMC Options Travel to expand from unmanaged travelers into larger managed corporate accounts.
- The acquisition aims to fuel an AI-native booking tool prioritizing negotiated rates and eliminating corporate leakage.
- Backed by Permira and 300 engineers, Engine targets the modernization of outdated corporate travel infrastructure.
Denver-based startup Engine, which spent a decade serving business travelers who book trips independently without a travel management company (TMC), has acquired Options Travel, a U.S. agency that recorded roughly $408 million in gross sales volume last year.
Financial terms of the transaction were not disclosed. Engine previously maintained about 1,000 employees and secured $140 million in Series C funding in 2024 led by private equity firm Permira.
While Engine's historical growth derived from unmanaged accounts, this acquisition marks a definitive push upmarket. The integration of Options Travel's agency expertise allows Engine to construct an online booking tool that highlights clients' negotiated hotel rates and unifies GDS supply.
Stock photo for illustration only, not from the actual event
Engine's strategic move to acquire a legacy TMC highlights a broader industry trend where tech-first startups attempt to disrupt established corporate booking tools like Concur. By leveraging AI alongside direct supply and GDS integrations, the company aims to eliminate friction in corporate travel programs.
Source: Skift
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