Expedia has a dominant network effect that's expected to be enjoyed by only a few.
Mobile application use is rapidly increasing, and Expedia is positioned to participate.
Outsize online travel booking growth witnessed in the past few years in China and emerging markets should continue over the next decade, given low penetration levels and increased online use. Although we see Expedia's exposure weakening here, the firm should still see benefits of this growing market. Read more
TripAdvisor's instant bookings are expected to gain traction with U.S.-branded hotels and therefore have a 1- to 2-percentage point impact on Expedia’s booking growth in a few years.
Expedia's eLong is losing share in China, which is the largest area of growth for the online travel booking market over the next decade.
Competition from existing and new entrants could meaningfully affect Expedia's growth outlook. Read more
We view Expedia's stewardship of shareholder capital as standard. We are encouraged that CEO and board director Dara Khosrowshahi has been at the helm since Expedia was spun off from InterActiveCorp in 2005, and he has been instrumental in executing Read more
Expedia is the world's second-largest online travel agency, offering booking services for hotel rooms, airline tickets, rental cars, cruises, and other vacation packages. Read more