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Vrbo proves Expedia bright spot despite revenue declines
Reading Time: 2 minutesUS: Seattle-based online travel agency Expedia has reported declines in revenue of 57 per cent [to $5.2 billion] and in gross bookings [to $36.7 billion] in its fourth quarter earnings report. It was the fourth consecutive quarter that Expedia had posted a loss, following three successive profitable quarters prior to the coronavirus outbreak. Peter Kern, […]
Expedia claims “better than expected” Q3, driven by Vrbo
Reading Time: 2 minutesUS: Travel firm Expedia Group has announced its 2020 Q3 results, which it has claimed are better than expected, but still down over 50 per cent from 2019. Its short-term rentals arm Vrbo, however, has outperformed much of the market, as it saw growth in both total bookings and total revenue from 2019. CEO Peter […]
Expedia’s second quarter bookings drop 90 per cent on 2019 figures
Reading Time: 3 minutesUS: Expedia Group has announced an 82 per cent drop in revenue for the second quarter of 2020, as total gross bookings for the three-month period up to 30 June also saw a 90 per cent decline on the equivalent period in 2019, to $2.71 billion. The plummeting figures for the Seattle-based online travel agency […]
Expedia Group to simplify portfolio by retiring HomeAway U.S. brand
Reading Time: 2 minutesUS: Expedia Group has announced that it will retire its HomeAway brand in the United States next month, instead refocusing on simplifying its vacation rental portfolio and diverting U.S. users away from the HomeAway website and mobile app towards its Vrbo brand. The group has also confirmed that any travellers who have made existing bookings […]
Expedia notes uptick in Vrbo rental bookings in May
Reading Time: 3 minutesUS: Despite announcing first quarter losses and a reduction in revenue, Expedia Group has offered cautious optimism for a market recovery in both the vacation rental and hotel segments post-pandemic. In his first earnings call as CEO since being appointed to the role last month, Peter Kern said the group’s vacation rental brand Vrbo had seen […]
Expedia Group names Kern as CEO and raises $3.2bn in capital
Reading Time: 2 minutesUS: Expedia Group has named Peter Kern and Eric Hart as its new chief executive and financial officers, taking over from Mark Okerstrom and Alan Pickerill, who both resigned abruptly in December over reported disagreements with the company’s board on strategy. At the same time, the group confirmed through its chairman Barry Diller that it […]
Expedia Group announces shock CEO and CFO resignations
Reading Time: 2 minutesUS: Expedia Group has announced that its CEO Mark Okerstrom and CFO Alan Pickerill have resigned from their posts with immediate effect. As a result, board chairman Barry Diller and vice chairman and Expedia director, Peter Kern, have been tasked with overseeing the company’s executive leadership team for the foreseeable future. They will manage day-to-day […]