Expedia is experiencing "tremendous momentum" in its B2B business, according to Expedia Group Vice Chairman and CEO Peter Kern. During the company's quarterly earnings call on Thursday (Aug. 3) it was reported that the B2B segment of the business saw 32% revenue growth year over year in the second quarter.
GLOWell-known travel website Expedia is experiencing “tremendous momentum” in its B2B business, according to Expedia Group Vice Chairman and CEO Peter Kern. During the company’s quarterly earnings call on Thursday (Aug. 3) it was reported that the B2B segment of the business saw 32% revenue growth year over year in the second quarter.
“The engine for our B2B business is fueled by the same technology, supply and service that serve our own brands,” Kern said. “And as we have advanced in all areas over the last several years, this has only added to the velocity of our B2B business.”
Although Expedia reported a slowdown in bookings growth, with total gross bookings up 5% in the second quarter compared to the significant surge of 20% in the first quarter, they have achieved notable successes in their B2B segment.
Expedia’s partnership with Mastercard will power the network’s global system of issuers so that Expedia “customers can spend their loyalty points on great travel experiences,” Kern said. Mastercard announced this collaboration on May 9th as part of their Travel with Rewards program.
Additionally, Expedia has collaborated with Walmart to provide travel benefits for Walmart+ members through their white-label template solution. Walmart announced this partnership on July 25th, stating that Walmart+ members would be able to book trips through the Walmart Plus Travel website, unlocking discounts on hotels, car rentals and vacation rentals.
Expedia’s commitment to technology extends to their existing partners through Travel OS, Kern said. Travel OS is a travel operating system that enhances other travel companies’ businesses. Expedia has also commercialized its fraud prevention capability, offering it through their B2B segment.
“We believe we still have the most successful and differentiated B2B business in the travel world, with a large addressable segment still available to penetrate further,” Kern said.
Source: PYMNTS
