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Despegar.com, Corp. (DESP) is the leading online travel agency in Latin America, established in 1999. Over the years, Despegar has become one of the top five traditional travel agencies on the continent, specializing in holiday travel. The company offers a comprehensive one-stop-shop for both leisure and corporate travel needs.
Through its user-friendly platform at www.despegar.com, customers can access over 500 airlines, 70 car rental agencies, and thousands of travel packages worldwide. Additionally, Despegar.com boasts a vast inventory of 150,000 hotels, the largest online available in the market. Users are supported by specialized phone service available in three languages: Spanish, English, and Portuguese.
Despegar.com's product offerings include airline tickets, travel packages, hotel accommodations, car rentals, bus tickets, cruise tickets, travel insurance, and destination services. The company operates through two primary segments: Air, which involves the sale of airline tickets, and Packages, Hotels, and Other Travel Products, which encompasses all other travel-related products and services.
In terms of geographical segments, Despegar.com has a strong presence in Argentina, Brazil, Uruguay, Mexico, and several other countries in Latin America. The company leverages a robust technology platform to manage product distribution and connect users with a wide network of travel suppliers. This ensures a seamless experience for customers looking to find, compare, plan, and purchase travel products easily.
Despegar.com is also committed to innovation and dynamic work culture. For those interested in joining their team, the latest job opportunities can be found at http://despegar.bumeran.com.
Stay updated with the latest news and developments of Despegar.com to make informed decisions about your investments.
Despegar.com reported strong financial results for 1Q24. Gross Bookings rose by 12% YoY to $1.3 billion and revenues increased 9% YoY to $173.7 million. On an FX-neutral basis, revenues grew 36% YoY. Adjusted EBITDA saw a remarkable 126% YoY increase to $39 million, with a record margin of 22.4%. Adjusted Net Income increased 68% YoY to $22.4 million.
Key markets like Brazil and Mexico showed robust demand. Notable improvements included a 47% YoY increase in B2B Gross Bookings and an 83% YoY rise in Loyalty Program members. The company also launched an AI travel assistant, SOFIA.
Despite a total cash position decline to $213 million, due to working capital strategies, dividend payments, and seasonal trends, Despegar remains confident, raising its 2024 revenue guidance to at least $820 million and Adjusted EBITDA to at least $155 million.
Despegar.com, Corp. (NYSE: DESP), Latin America’s top travel technology company, will announce its First Quarter 2024 financial results on May 16, 2024. The company operates in 19 countries, offering alternative payment methods, and is traded on the NYSE. Despegar has a strong market presence and aims to enhance travel experiences for Latin Americans.
Despegar.com, Corp. (NYSE: DESP), Latin America’s top travel technology company, has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2023. The report is accessible on the SEC and Despegar's websites, featuring complete audited financial statements. Investors can request a printed copy for free via email.
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