Expedia Group, Inc. - EXPE STOCK NEWS

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.

Hotels.com, along with celebrity couple Nick and Vanessa Lachey, has launched Hotels.com Cuffing Season Stays to help singles find partners this fall. This initiative offers a collection of VIP Access properties in popular U.S. cities, tailored for various couple types, from luxury to party lovers. Each hotel provides unique amenities and special perks for Hotels.com Rewards members. Additionally, couples dating less than six months can enter a sweepstakes to win $2,500 in Hotels.com gift cards, with potential bonuses for staying together until Valentine's Day 2023.

Expedia Group (NASDAQ: EXPE) will publish its Q3 2022 earnings results on November 3, 2022, for the period ending September 30, 2022. The earnings release will be accessible post-market close, with a webcast starting at 1:30 PM PT / 4:30 PM ET. Investors can find this information on the Investor Relations page. A replay of the earnings call will be available for at least three months. Expedia Group is dedicated to enhancing travel experiences through its extensive range of brands and technology solutions.

Expedia's 2023 Air Travel Hacks Report provides essential tips for travelers to save time and money on flights. Key insights include booking airfare on Sundays for up to 15% savings, and planning flights at least a month in advance for domestic and six months for international travel to save 10%. Departing before 3 p.m. significantly reduces delays, while traveling on Wednesdays is recommended for cost savings. The new Price Tracking and Predictions feature allows members to easily monitor flight prices and make informed booking decisions.

Expedia Group has launched the Open World™ Accelerator, aimed at supporting startups and small and medium-sized businesses (SMBs) in the travel industry. This initiative focuses on enhancing accessibility for underserved travelers and aligns with the company's social impact and sustainability strategy. The program will provide selected participants with a six-month curriculum that includes mentorship, technology development, and access to Expedia’s platform. Applications are open until October 21, with the program starting in January 2023.

Expedia teams up with soccer star Guillermo "Memo" Ochoa to launch the "Travel like Memo" campaign, celebrating his roots in Mexico City. The initiative includes a curated itinerary featuring Ochoa's favorite local spots, such as restaurants and scenic views. Two fans will win an exclusive travel experience, including a meet-and-greet with Ochoa, starting September 20. The campaign aims to authentically engage travelers and promote Mexico City's unique attractions.

Expedia Group has appointed Julie Whalen as the new Executive Vice President and Chief Financial Officer, effective September 26, 2022. She succeeds Eric Hart, who will assist in the transition until October 1, 2022. Whalen, with over 20 years in finance, previously served as EVP and CFO at Williams-Sonoma, Inc. Her understanding of Expedia's operations, gained from her role on the Board since June 2019, positions her to drive the company’s growth strategies. Hart will continue contributing as Chair of the Supervisory Board for Trivago N.V..