We continue to see strong growth in travel and entertainment spending, which increased by double digits in the quarter and remain strong across customer categories and geographies.

Jul 21, 2023 / CEO / receipt, needs a key / Steve Squarey, CEO | earnings call 2023-07-21 | transcript 000dfc56-27f8-4eae-ac80-78ef1c38704a | chars 6069-6249 | segment 6

Built business was up 30% from a year earlier on an FX-adjusted basis, led by a vigorous rebound in travel and entertainment spending, and continued strong growth in goods and services.

Jul 22, 2022 / CEO / receipt, needs a key / Steve Squarey, CEO | earnings call 2022-07-22 | transcript c73db09a-b753-4a08-991c-bde691c735e0 | chars 2321-2506 | segment 2

Finally, in the near term, we're benefiting from recovery tailwinds in our businesses outside the U.S., in the large and global corporate space, and in travel and entertainment. The travel rebound in particular has been faster and stronger than anyone expected. Total T&E spending exceeded pre-pandemic levels in April for the first time. It was at 108% of 2019 levels for the quarter. led by strong growth in global consumer and SME spending, and a significant uptick in large and global corporate travel. We don't see demand in the T&E categories declining significantly anytime soon.

Jul 22, 2022 / CEO / receipt, needs a key / Steve Squarey, CEO | earnings call 2022-07-22 | transcript c73db09a-b753-4a08-991c-bde691c735e0 | chars 5353-5939 | segment 5

Delta card acquisitions reached an all-time monthly high in March, an indication of the growing demand for travel-related products and services.

Apr 22, 2022 / CEO / receipt, needs a key / Steve Squarey, CEO | earnings call 2022-04-22 | transcript bb1402c8-3fab-4bbe-8261-9bb0ef1a5663 | chars 3778-3922 | segment 3

Overall T&E spending also continued to improve, reaching 82% of pre-pandemic levels, driven by stronger consumer travel spending.

Jan 25, 2022 / CEO / receipt, needs a key / Steve Squarey, CEO | earnings call 2022-01-25 | transcript a45c2e2e-28e9-49b2-bd3e-507836e276a1 | chars 5111-5240 | segment 5

Travel and entertainment spending also accelerated in the quarter, particularly in the U.S., where a growing percentage of the population is now fully vaccinated. In fact, we saw a surge in spending by U.S. Consumer Corps members across all T&E categories, with overall U.S. consumer T&E spending reaching 98% of pre-pandemic levels in June and continuing to grow into July.

Jul 23, 2021 / CEO / receipt, needs a key / Steve Squarey, CEO | earnings call 2021-07-23 | transcript 9445dd3a-0dac-4abf-9165-943675e96d55 | chars 4312-4686 | segment 4

T&E spending outside the U.S. continues to recover more slowly due to lower overall vaccination rates and government-imposed restrictions in some geographies.

Jul 23, 2021 / CEO / receipt, needs a key / Steve Squarey, CEO | earnings call 2021-07-23 | transcript 9445dd3a-0dac-4abf-9165-943675e96d55 | chars 4687-4845 | segment 4

In our commercial business, overall small and mid-sized enterprise volumes exceeded pre-pandemic levels in Q2, driven by continued strong growth globally in B2B spending on goods and services. which was up 18% on an FX-adjusted basis versus 2019, while the T&E recovery also accelerated with the fastest total growth coming from smaller-sized businesses in the U.S.

Jul 23, 2021 / CEO / receipt, needs a key / Steve Squarey, CEO | earnings call 2021-07-23 | transcript 9445dd3a-0dac-4abf-9165-943675e96d55 | chars 5137-5502 | segment 5

Volumes on both Delta and Hilton co-brand cards increased by double digits versus pre-pandemic levels in the quarter, driven by the same trends of continued strong growth in goods and services spending and an acceleration in the recovery of T&E spending.

Jul 23, 2021 / CEO / receipt, needs a key / Steve Squarey, CEO | earnings call 2021-07-23 | transcript 9445dd3a-0dac-4abf-9165-943675e96d55 | chars 5586-5840 | segment 5