Online Travel Update: MCR Hotels Trial Runs Attribute Pricing; Travel Funders Network Offers Revenue Guarantee; And Hopper Raises Another $175 Million - Media, Telecoms, IT, Entertainment
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Online Travel Update: Tripadvisor Plus Announces Initial Hotel Partners For Its Subscription Service, And Booking Holdings Reveals More Details Around Their Planned Fintech Business - Media, Telecoms, IT, Entertainment
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My key takeaways from this past week’s Expedia call are below:
Highlights from the recently announced sale of Expedia’s corporate travel platform, Egencia, to Amex GBT include (i) Expedia eventually owning approximately 14 percent of the combined businesses post-closing – which Expedia assumes will be worth $700 million and (ii) the deal comprising a long-term supply agreement between Expedia Partner Services (EPS) and Amex GBT, which according to Expedia CEO, Peter Kern, underscores EPS’ continuing efforts to position itself as a B2B business platform and allow Expedia to focus on its core B2C and B2B businesses.
Over the past quarter, Expedia has shifted its perspective on marketing – moving from an initial bias against large marketing commitments early in the quarter to now making major investments in an attempt to get out ahead of the anticipated wave of travel demand. Expedia, Orbitz and Vrbo are the initial beneficiaries of this new marketing commitment.