Expedia Group, Inc. - EXPE STOCK NEWS

Expedia Group has announced the selection of 12 finalists for its inaugural Accelerator initiative aimed at enhancing travel accessibility for underserved communities. This initiative is part of Expedia's commitment to sustainability and responsible business practices. The selected startups focus on empowering disabled travelers, promoting travel equity, and supporting women and LGBTQIA+ travelers. Notably, the Accelerator will introduce a new program next year to develop additional capabilities. The company's efforts reflect a broader mission to democratize travel and create a more inclusive environment.

Expedia data shows a significant 40% increase in flight searches for March and April compared to last year, reflecting travelers' eagerness to plan spring break vacations. While average ticket prices are notably higher than in 2022, hotel rates remain stable. Early March and late April are expected to offer the best deals for flights. Popular international destinations like Punta Cana and Tokyo are seeing double-digit search increases. Travelers can find flights and hotel packages under $350 to cities such as Fort Lauderdale and Toronto. With fewer COVID-19 restrictions, interest in international travel is surging.

DALLAS, Jan. 30, 2023 /PRNewswire/ -- Hotels.com launched a new web series titled Perfect 10, featuring celebrities like Busy Philipps, Evan Mock, and Kwame Onwuachi sharing personal hotel stories. The series aims to showcase the unique experiences and hotel preferences of these personalities. The first three episodes, available at hotels.com/perfect10, reveal insights on hotel etiquette and tips for booking. Hector Muelas from Expedia Group emphasizes that these stories reflect the guests' personalities. The series promises to roll out more episodes throughout 2023.

Expedia Group (NASDAQ: EXPE) will announce its fourth quarter 2022 results on February 9, 2023, for the period ending December 31, 2022. The earnings release will be accessible in the Investor Relations section of their website after market close, with a webcast beginning at 1:30 PM PT / 4:30 PM ET. A replay will be available for at least three months. Expedia Group empowers travel through a global platform, offering industry-leading technology and a diverse range of brands, including Expedia, Hotels.com, and Vrbo, among others.

Expedia's recent survey reveals that 34% of over 4,000 U.S. travelers feel burnt out after the holidays, with 96% planning to spend part of their next trip doing nothing. January is a peak month for booking beach vacations, with rising demand for destinations like Cancun and Oahu. Travelers are encouraged to bundle services for savings of over 10%. Nearly half of respondents aim to kick off the new year with a trip, seeking relaxation as their top vacation priority. Expedia also offers a chance to win $4,500 in points for a 'nothing-cation.'

According to Hotels.com, travelers can find hotel prices below $150 per night during the upcoming 'cold shoulder season' from December 15 to 20 and January 3 to 8. This winter, average nightly rates are expected to drop significantly, with reductions of $50 to $100 from summer rates that averaged over $200. Popular destinations include Las Vegas, Lima, and Los Angeles, where numerous hotels are offering competitive pricing. Peak hotel rates will occur during New Year's Eve weekend, with Caribbean locations exceeding $800 per night.

On November 17, 2022, Expedia Group announced key travel trends for 2023, indicating a departure from the 'new normal.' Insights show cultural destinations like Edinburgh and Tokyo gaining traction, while outdoor retreats rise in popularity. Streaming content now inspires 40% of travelers, with 68% considering trips based on on-screen locations. With 32% of U.S. travelers prioritizing value, interest in three-star hotels surged by 20%. Wellness travel is evolving, as over half seek unique experiences. The report highlights optimism in the travel industry, anticipating recovery to pre-2020 levels.

Henrique Dubugras, Co-founder and Co-CEO of Brex, has been elected to Expedia Group's Board of Directors on November 8, 2022. With extensive experience in building technology companies, Dubugras aims to enhance Expedia's mission of powering global travel. He co-founded Brazil's largest payment processor, Pagar.me, and Brex, which provides financial software and corporate cards to various clients. Dubugras expressed enthusiasm for joining Expedia, highlighting shared values regarding globalization and innovation alongside CEO Peter Kern's support for his appointment.

Expedia Group (NASDAQ: EXPE) reported strong financial results for Q3 2022, achieving record revenue of $3.6 billion, up 22% year-over-year, and $1.08 billion in adjusted EBITDA, a 26% increase. Key metrics included a 28% rise in gross bookings to $24 billion and a 33% increase in net income to $482 million. Free cash flow exceeded $3 billion for the first nine months, double 2019 levels. The company repurchased $200 million in shares and reduced debt by $500 million in the past 18 months, enhancing financial stability amidst robust travel demand.