Expedia Group, Inc. (NASDAQ: EXPE)

Expedia Group, Inc., or Expedia, is a prominent player in the online travel industry, operating under the ticker symbol EXPE. The company is dedicated to facilitating global travel for everyone, everywhere, by harnessing its supply portfolio, platform, and technology capabilities to cater to business partners and empower travelers in their journey of researching, planning, booking, and experiencing travel.

Expedia's primary business activities involve offering a comprehensive range of travel and advertising services through its renowned consumer brands. These include Brand Expedia, Hotels.com, Vrbo, Orbitz, Travelocity, ebookers, Wotif Group, and trivago. Expedia's B2C segment focuses on providing travel products and services to customers, while its B2B segment supports a diverse array of travel and non-travel companies, including airlines, offline travel agents, online retailers, corporate travel management, and financial institutions.

Revenue for Expedia is generated through its merchant model, agency model, and advertising model. Under the merchant model, Expedia facilitates bookings of hotel rooms, alternative accommodations, airline seats, car rentals, and destination services, acting as the merchant of record for these transactions. Through the agency model, Expedia acts as the intermediary, passing reservations made by travelers to the relevant travel providers. Additionally, Expedia generates revenue through advertising, offering travel and non-travel advertisers access to potential traffic and transactions via its various media and advertising offerings.

Expedia maintains a competitive edge in the industry through its multiple channels for generating demand, high-quality and diverse travel product supply, user-friendly websites and mobile apps, competitive pricing and promotional offers, excellent customer service, adaptable and extensive loyalty programs, and offline brand efforts.

Travel suppliers, such as airlines, hotels, alternative accommodation providers, car rental companies, cruise operators, and other travel service providers, comprise Expedia's customer base. The company's loyalty program, One Key, enables travelers to earn and redeem rewards across its major brands, including Expedia, Hotels.com, and Vrbo.

Expedia's B2C segment significantly contributes to the company's revenue, accounting for approximately 69% of its total revenue in 2023. The segment offers travel products and services through its recognized consumer brands, including Brand Expedia, Hotels.com, Vrbo, and Orbitz. Expedia's B2B segment accounted for around 24% of its total revenue in 2023, providing travel and non-travel products and services to business partners. Lastly, Expedia's advertising, media, and other segment accounted for around 7% of its total revenue in 2023, offering advertising and media solutions to customers, including travel and non-travel advertisers.