Main Menu
Posts tagged Expedia.

With earnings season upon us, it was difficult to limit this week’s Update to just 12 stories. For those of you seeking a deeper dive into the latest on online booking platforms, Expedia Group and Booking Holdings I encourage you to take a look at the Expedia Group and Booking Holdings call transcripts. Enjoy. 

Expedia Updates
(“Expedia Unveils New Strategy,” May 6, 2022 via Hotel Business)
(“Expedia Group Revenue Jumps 81 Percent as Travel Recovery Continues,” May 2, 2022 via Phocus Wire)
(“Expedia Group Revamps Marketplace, Tech Platform as Part of New Strategy,” May 4, 2022 via Phocus Wire)

Last week not only saw the release of Expedia’s first quarter earnings report, but also the hosting of Expedia’s annual partner conference – this year titled Explore. Here are my key takeaways from this past quarter’s earnings release and reported Explore highlights:

    • While Expedia’s quarterly financial performance still lagged behind 2019, recent months (starting with February) have exceeded same month comparisons to 2019.

    • Traveler demand is returning stronger than ever, despite the emergence of COVID variants, the war in Ukraine, inflation, etc. In CEO Peter Kern’s words, the recovery “seems too strong to be held down.” Demand is also starting to return across multiple segments, including CBD business and business travel.

    • VRBO continues to enjoy unprecedented success, performing now at levels above 2019. Supply constraints remain a concern, particularly in key markets.

    • Expedia’s B2B business (most notably, Optimized Distribution) continues to gain traction (particularly with the recent enrollment of IHG) and is now a major focal point for Expedia’s future growth. Expect increased interest in enrolling supplier partners of all sizes in Expedia’s B2B program.

    • When discussing Expedia’s latest quarterly marketing investments, Peter referred repeatedly to efforts now focused on developing longer term relationships with its travelers and the “lifetime value” of such travelers. According to Peter, “the industry has been very transactionally focused and we haven’t been great historically at measuring lifetime value...” Sound familiar? Sounds like Peter may have stolen a page or two from hoteliers’ song books on the real value of direct channel bookings (and their associated investments) versus the “transactional” bookings often sourced through third party online channels.

    • At last week’s Explore event, Expedia launched its new technology platform, Expedia Group Open World. This new platform will allow partners of all shapes and sizes to contribute products, services and content to the overall traveler experience.  Expedia also revealed its new reimagined marketplace, which, among other things, will now rank individual hotels (which ranking then affects display and sort order) by a new guest experience score – which takes into consideration guest reviews, customer service interactions, etc. And in a nod to Hopper and its incredible success these past few years, Expedia is also launching a price predictive tool that will allow users to track historical and anticipated future rate changes for both air (today) and hotel rooms (later this year).

The United Kingdom's Office of Fair Trading (OFT) issued a Statement of Objections this Tuesday alleging that industry giants Booking.com, Expedia, Inc. and InterContinental Hotels Group violated the UK’s Competition Act of 1998. The Statement of Objections will not be made public, but from OFT’s comments, its rate parity and best rate guarantees that are causing the trouble.

Washington hotel owners, operators and suppliers enjoyed two days of learning, socializing and recognizing their colleagues' successes at the recent Washington Lodging Association's 2011 Annual Conference at the incredible Tulalip Resort and Spa. This year's Conference featured a variety of presentations on workforce challenges, recent changes to the ADA, revenue management, fraud prevention and social media. 

Last week the Seattle Hotel Association presented the 6th installment of its annual symposium and economic forecast. Like years past, this year's program featured a terrific line up of local and regional experts, including Matthew Gardner (Gardner Economics), Vail Brown (STR), Lee McCabe (Expedia), Chris Kraus (PKF) and Tom Norwalk and Jerri Lane (Seattle King County Convention and Visitor's Bureau). Local general managers and directors of sales and marketing have come to rely on the Association's annual symposium as an important part of their annual budgeting process.

Search This Blog

Subscribe

RSS RSS Feed

About the Editor

Greg Duff founded and chairs Foster Garvey’s national Hospitality, Travel & Tourism group. His practice largely focuses on operations-oriented matters faced by hospitality industry members, including sales and marketing, distribution and e-commerce, procurement and technology. Greg also serves as counsel and legal advisor to many of the hospitality industry’s associations and trade groups, including AH&LA, HFTP and HSMAI.

Recent Posts

Topics

Select Category:

Archives

Select Month:

Contributors

Back to Page

We use cookies to improve your experience on our website. By continuing to use our website, you agree to the use of cookies. To learn more about how we use cookies, please see our Cookie Policy.