Expedia Group, Inc. - EXPE STOCK NEWS

Vacasa has appointed Rob Greyber as the new Chief Executive Officer, effective September 6. Greyber, with over 20 years in the travel and technology sectors, most recently served as President of Egencia, a former Expedia Group entity. He succeeds Matt Roberts, who guided the company through challenging times, including a significant increase in Gross Booking Value and taking Vacasa public in December 2021. The board anticipates Greyber will leverage his expertise to drive profitable growth and further innovate in the vacation rental industry.

Expedia Group (NASDAQ: EXPE) reported strong Q2 2022 results, achieving record lodging bookings and the highest second-quarter revenue of $3.2 billion, reflecting a 51% year-over-year increase. Adjusted EBITDA rose 14% to $648 million, while gross bookings surged 26% to $26.1 billion. Notably, the company reported a net loss of $185 million but improved adjusted net income to $310 million. Despite macroeconomic uncertainties, travel demand remains robust, reinforcing the group's focus on enhancing technology and building direct customer relationships.

Expedia Group (NASDAQ: EXPE) will disclose its Q2 2022 results on August 4, 2022, after market close. The earnings release will be followed by a webcast at 1:30 PM PT / 4:30 PM ET. Interested stakeholders can access the earnings report and webcast in the Investor Relations section of their website. A replay of the call will be available for at least three months. This announcement underscores Expedia's commitment to transparency and engagement with investors.

Expedia Group announced its partnership with Bilt Rewards to launch the Bilt Travel Portal, enabling Bilt members to book travel using their rewards points. This initiative, effective immediately, allows users to redeem Bilt points for various travel expenses, enhancing the value of their loyalty program. The portal provides access to over 700,000 properties and 500 airlines worldwide. The collaboration is part of Expedia's strategy to leverage its technology and expand its market reach, thereby driving growth and user engagement within the travel sector.

Expedia's recent survey reveals the significant impact of the COVID-19 pandemic on honeymoon plans, with 97% of couples experiencing disruptions. As wedding numbers rebound, an estimated 4.7 million weddings are expected in 2022-2023, leading to evolving honeymoon trends. Key findings include that 65% of couples prefer honeymoon funds, 53% plan to spend more than budgeted, and 83% are considering multiple honeymoon trips. The survey also indicates a desire for romantic and adventurous experiences as couples look forward to these celebrations.

Expedia Group introduced its new technology platform, Expedia Group Open World, at the EXPLORE 22 event in Las Vegas. This platform aims to empower partners of all sizes with a comprehensive e-commerce suite for enhanced travel services. Additionally, a revamped marketplace focuses on improving traveler experiences and introduces a guest experience score that influences visibility in searches. New features like Trip Boards and Price Tracking are designed to boost traveler confidence. The One Key loyalty program is set to integrate four existing programs, allowing seamless point earnings across brands.

Expedia Group (NASDAQ: EXPE) will livestream its annual partner event, EXPLORE 22, on May 4, 2022, at 4pm ET. The event will showcase new innovations aimed at enhancing travel experiences for both travelers and partners. The live webcast can be accessed at livestream.exploreexpediagroup.com. For further details about the event, visit exploreexpediagroup.com.

Expedia Group (NASDAQ: EXPE) reported a strong recovery in Q1 2022, with gross bookings at $24.4 billion, up 58% from Q1 2021. Despite a net loss of $122 million, adjusted EBITDA was $173 million, nearly flat compared to pre-pandemic levels. The company highlights demand for leisure and business travel, bolstered by a new $2.5 billion credit facility for liquidity. Revenue reached $2.25 billion, an 81% year-over-year increase. However, European recovery was impacted by the war in Ukraine, and the net loss per share improved to $(0.78) from $(4.17) a year prior.