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Expedia Group (EXPE) Boosts Clientele With New Partnerships
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Expedia Group (EXPE - Free Report) is gaining from strong customer momentum across the globe on the back of expanding partnerships and robust solutions, which remain the key growth catalysts for the company. Its shares have gained 47.5% in the past year compared with the Retail-Wholesale sector’s 35.6% growth.
In this regard, the company announced several partnerships to expand its global footprint across the Asia-Pacific, North America, Europe and the Middle East regions on the back of its robust solutions.
The Asia Pacific and North American travel partners collaborated with Expedia Group to capitalize on rising travel demand by leveraging its robust technology and advertising solutions.
Europe and the Middle East travel partners, on the other hand, strive to bolster travelers’ experiences on the back of EXPE’s wide range of travel options, competitive pricing and unique experiences for travelers.
These partnerships have expanded the company’s client base globally. Moreover, it is expected to gain strong traction among foreign travelers on the back of these latest collaborations.
In the Asia-Pacific region, Expedia Group collaborated with Tourism and Events Queensland, Tourism Tropical North Queensland, Tourism Northern Territory and Brisbane Economic Development Agency to enhance travelers' experiences, improve sustainable tourism and showcase Australia's unique culture.
Further, Expedia Group partnered with Ikyu, a Japanese luxury hotel booking service, offering its customers with over 20,000 additional properties worldwide and enabling them to earn points for future bookings using Expedia’s Rapid API solutions.
In North America, the company collaborated with Alaska Airlines and United Airlines, expanding the customer base for its White Label Template technology. Per the terms, both partners will utilize Expedia Group's White Label Template technology capabilities to upgrade their online travel platforms by integrating flights, car rentals and properties into customizable packages.
In the European region, Expedia Group added IAG Loyalty to its clientele with its latest partnership. Per the terms, IAG Loyalty will leverage its competitive rates and availability in 25,000 destinations and 700,000 properties worldwide to expand the British Airways Executive Club and other loyalty programs.
In the Middle East, EXPE partnered with Visit Qatar to boost the latter’s global tourism demand by launching creative campaigns, creating a data dashboard and leveraging travel agent support through the Expedia TAAP agency.
Expedia Group’s growing endeavors to expand its customer base through collaborations will aid the company to capitalize on growth opportunities present in the global travel and tourism, as well as online travel booking market space. Per a Statista report, the global travel and tourism market is expected to hit $927.3 billion in 2024 and reach $1.06 trillion by 2028, indicating a CAGR of 3.5% during the forecast period of 2024-2028.
Per an MMR report, the online travel booking market is likely to reach $1.18 trillion by 2030, witnessing a CAGR of 9.7% between 2024 and 2030.
Solidifying prospects in this promising market is expected to drive EXPE’s overall top-line performance in the near term.
The Zacks Consensus Estimate for 2024 revenues is pegged at $14.06 billion, indicating growth of 9.5% year over year.
Intensifying Competition
The latest move is likely to aid this Zacks Rank #3 (Hold) company to strengthen its competitive position against peers like TripAdvisor (TRIP - Free Report) , Airbnb (ABNB - Free Report) and Booking Holdings (BKNG - Free Report) , which are also making continuous efforts to capitalize on growth opportunities present in the travel and tourism market space.
Notably, Tripadvisor’s introduction of an AI-powered travel itinerary generator for Trips, enabling personalized itineraries based on human insights from over a billion reviews and opinions from over eight million businesses on the platform, remains noteworthy.
Meanwhile, Airbnb partnered with UNESCO to promote responsible and sustainable tourism in Mexico, aiming to empower local communities, integrate the creative sector into the tourism value chain, and protect the country's cultural and natural assets by integrating experiences that enhance cultural appreciation and knowledge.
Booking Holdings’ subsidiary, Agoda, partnered with DBS to introduce a reward points redemption system for Hong Kong customers, enhancing their access to value travel deals.
Per the terms, Agoda’s Hong Kong customers holding DBS and COMPASS Dollar credit cards can experience a seamless redemption while making hotel payments at the site, allowing insufficient point holders to reduce their booking costs. Booking Holdings strives to gain solid traction across DBS customers in Hong Kong on the back of this partnership.
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Expedia Group (EXPE) Boosts Clientele With New Partnerships
Expedia Group (EXPE - Free Report) is gaining from strong customer momentum across the globe on the back of expanding partnerships and robust solutions, which remain the key growth catalysts for the company. Its shares have gained 47.5% in the past year compared with the Retail-Wholesale sector’s 35.6% growth.
In this regard, the company announced several partnerships to expand its global footprint across the Asia-Pacific, North America, Europe and the Middle East regions on the back of its robust solutions.
The Asia Pacific and North American travel partners collaborated with Expedia Group to capitalize on rising travel demand by leveraging its robust technology and advertising solutions.
Europe and the Middle East travel partners, on the other hand, strive to bolster travelers’ experiences on the back of EXPE’s wide range of travel options, competitive pricing and unique experiences for travelers.
These partnerships have expanded the company’s client base globally. Moreover, it is expected to gain strong traction among foreign travelers on the back of these latest collaborations.
Expedia Group, Inc. Price and Consensus
Expedia Group, Inc. price-consensus-chart | Expedia Group, Inc. Quote
More into the Headlines
In the Asia-Pacific region, Expedia Group collaborated with Tourism and Events Queensland, Tourism Tropical North Queensland, Tourism Northern Territory and Brisbane Economic Development Agency to enhance travelers' experiences, improve sustainable tourism and showcase Australia's unique culture.
Further, Expedia Group partnered with Ikyu, a Japanese luxury hotel booking service, offering its customers with over 20,000 additional properties worldwide and enabling them to earn points for future bookings using Expedia’s Rapid API solutions.
In North America, the company collaborated with Alaska Airlines and United Airlines, expanding the customer base for its White Label Template technology. Per the terms, both partners will utilize Expedia Group's White Label Template technology capabilities to upgrade their online travel platforms by integrating flights, car rentals and properties into customizable packages.
In the European region, Expedia Group added IAG Loyalty to its clientele with its latest partnership. Per the terms, IAG Loyalty will leverage its competitive rates and availability in 25,000 destinations and 700,000 properties worldwide to expand the British Airways Executive Club and other loyalty programs.
In the Middle East, EXPE partnered with Visit Qatar to boost the latter’s global tourism demand by launching creative campaigns, creating a data dashboard and leveraging travel agent support through the Expedia TAAP agency.
Expedia Group’s growing endeavors to expand its customer base through collaborations will aid the company to capitalize on growth opportunities present in the global travel and tourism, as well as online travel booking market space. Per a Statista report, the global travel and tourism market is expected to hit $927.3 billion in 2024 and reach $1.06 trillion by 2028, indicating a CAGR of 3.5% during the forecast period of 2024-2028.
Per an MMR report, the online travel booking market is likely to reach $1.18 trillion by 2030, witnessing a CAGR of 9.7% between 2024 and 2030.
Solidifying prospects in this promising market is expected to drive EXPE’s overall top-line performance in the near term.
The Zacks Consensus Estimate for 2024 revenues is pegged at $14.06 billion, indicating growth of 9.5% year over year.
Intensifying Competition
The latest move is likely to aid this Zacks Rank #3 (Hold) company to strengthen its competitive position against peers like TripAdvisor (TRIP - Free Report) , Airbnb (ABNB - Free Report) and Booking Holdings (BKNG - Free Report) , which are also making continuous efforts to capitalize on growth opportunities present in the travel and tourism market space.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Notably, Tripadvisor’s introduction of an AI-powered travel itinerary generator for Trips, enabling personalized itineraries based on human insights from over a billion reviews and opinions from over eight million businesses on the platform, remains noteworthy.
Meanwhile, Airbnb partnered with UNESCO to promote responsible and sustainable tourism in Mexico, aiming to empower local communities, integrate the creative sector into the tourism value chain, and protect the country's cultural and natural assets by integrating experiences that enhance cultural appreciation and knowledge.
Booking Holdings’ subsidiary, Agoda, partnered with DBS to introduce a reward points redemption system for Hong Kong customers, enhancing their access to value travel deals.
Per the terms, Agoda’s Hong Kong customers holding DBS and COMPASS Dollar credit cards can experience a seamless redemption while making hotel payments at the site, allowing insufficient point holders to reduce their booking costs. Booking Holdings strives to gain solid traction across DBS customers in Hong Kong on the back of this partnership.