Expedia

What Expedia does

Expedia Group, Inc. (NASDAQ: EXPE) is a global online travel marketplace operator headquartered in Seattle, Washington, founded in 1996 and spun off from IAC in 2005. It runs a portfolio of consumer travel brands — Expedia.com, Hotels.com, Vrbo, Orbitz, Travelocity, Hotwire, Wotif, ebookers, CheapTickets, Expedia Cruises, and CarRentals.com — alongside a significant holding in trivago for meta-search. The company serves leisure travelers (B2C), corporate clients via Expedia for Business, and B2B travel partners (financial institutions, OTAs, airlines, travel agencies) through its Expedia Partner Solutions platform and Rapid API ecosystem spanning 190 countries, 400+ airlines, and 200K+ activities. The OneKey unified loyalty program with a co-branded Wells Fargo/Mastercard credit card ties the consumer brands together.

The technology platform has been consolidated from legacy brand-specific systems into a single supply and distribution stack (completed during the 2020 pandemic), with AI-driven personalization, natural language search, agentic AI workflows, and an Intelligent Experience Platform for B2B partners. Expedia operates a premier travel advertising network leveraging first-party traveler data and is embedding its inventory across Uber, Meta, TikTok Go, Google AI Mode via the Universal Commerce Protocol, BMO Blue Rewards, OpenAI ChatGPT, and CLEAR airport experiences. Pending acquisitions of CarTrawler (~$350M, ground transport/Insurtech) and TiQets (experiences) extend the offering into adjacent verticals.

The business model is marketplace-commission-led (booking commissions on hotels, flights, vacation rentals, cars, activities, and packages) supplemented by B2B API/platform fees, advertising, loyalty economics, and merchant/ancillary services. Q1 2026 revenue was $3.43B (+15% YoY) on gross bookings of 113.9M room nights, with adjusted EBITDA of $542M (+83% YoY) and operating margin expanding to 7.3% from -2.3%. The balance sheet carries $5.4B in cash, Net Debt/EBITDA of 0.3x, a $2.5B revolving credit facility, and a newly authorized $5B buyback program, supporting both organic AI investment and inorganic expansion.

Name

Expedia

Legal name

Expedia, Inc.

Website

https://expediagroup.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Expedia Group is a global online travel marketplace operating consumer brands (Expedia, Hotels.com, Vrbo) and a B2B platform (Rapid APIs, Expedia Partner Solutions) that serve leisure travelers, corporate clients, and travel partners across 70+ countries with flights, lodging, vacation rentals, cars, and activities.

Ownership category

akta.pro rank

Product category

Online Travel Agency

NAICS

Travel Agencies (561510), Tour Operators (561520), All Other Travel Arrangement and Reservation Services (561599)

SIC

Transportation Services (4700), Services-Amusement & Recreation Services (7900), Services-Auto Rental & Leasing (No Drivers) (7510)

akta.pro primary industry

Online Booking & Reservation Platforms (B2B/B2C) (THALAMAA)

Keywords

• Online travel marketplace
• Hotel booking platform
• Vacation rental marketplace
• Flight reservation services
• Travel advertising network

Headquarters

HQ city

Seattle

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Digital Commerce or Content

Cost components

Marketing or Sales, Technology or R&D, Personnel, Operations, Others

Revenue model

1. Booking Commissions: Expedia earns commissions on hotel, flight, vacation rental, car rental, activity, and package bookings across its consumer brands (Expedia.com, Hotels.com, Vrbo, Orbitz, Travelocity, etc.); reported $3.43 billion in Q1 2026 revenue (+15% YoY) on gross bookings of 113.9 million room nights (+13% YoY).
2. B2B Platform & API Services: Revenue from Rapid API integrations with financial institutions, airlines, OTAs, and travel companies (e.g., BMO Blue Rewards, Uber, Accor, 70+ airlines via CarTrawler); B2B segment grew 22% YoY in Q1 2026 with $5.4 billion cash and Net Debt/EBITDA of 0.3x supporting platform investment.
3. Travel Advertising: Premier travel advertising network (Expedia Group Advertising) leveraging first-party traveler data and AI-driven insights; Harris Poll research showed travelers spend $500+ per trip on non-travel purchases, opening high-value targeting opportunities for non-travel brands.
4. OneKey Loyalty / Co-brand Card Economics: Economic participation in the OneKey loyalty program and the co-branded credit card with Wells Fargo and Mastercard, including interchange, rewards economics, and ancillary member services.
5. Merchant & Ancillary Services: Merchant model on certain transactions (where Expedia is the merchant of record) plus ancillary fees (e.g., travel protection, insurance, advertising on media channels, and currency exchange services).

Pricing tiers

Go-to-market motion1 record

Distribution channels10 records

Marketing channels9 records

Core offering

Expedia Group operates a multi-brand global online travel marketplace aggregating flights, hotels, vacation rentals, car rentals, cruises, activities, and vacation packages from third-party suppliers across consumer brands (Expedia.com, Hotels.com, Vrbo, Orbitz, Travelocity, Hotwire) serving leisure and corporate travelers in 70+ countries. The company also runs a separate B2B travel technology platform (Expedia Partner Solutions / Rapid APIs) that exposes its travel supply to financial institutions, airlines, OTAs, and travel companies via APIs, white-label solutions, and the Travel Agency Affiliate Program (TAAP), with a co-branded OneKey loyalty program and credit card spanning the consumer portfolio.

Product overview

Expedia Group operates as a multi-brand global travel marketplace platform organized around three core consumer brands (Expedia.com, Hotels.com, Vrbo) and a portfolio of acquired consumer sub-brands (Orbitz, Travelocity, Hotwire, Wotif, ebookers, CheapTickets, Expedia Cruises, CarRentals.com), supported by a significant investment in trivago for meta-search. Underpinning this consumer portfolio is a unified technology platform with a B2B business (Expedia for Business / Expedia Partner Solutions) that exposes Expedia supply through the Rapid API ecosystem, the Expedia Travel Agency Affiliate Program (TAAP), and the newly launched Expedia Intelligent Experience Platform for agentic AI integration. A unified consumer loyalty program (One Key, with a Wells Fargo / Mastercard co-branded credit card) ties the brands together, while Expedia Group Advertising operates a commerce media network on top of the platform. Recent acquisitions (Tiqets for attractions/experiences, CarTrawler for ground mobility) and partnerships (Uber, CLEAR, Meta, TikTok GO, Google UCP/AI Mode, OpenAI ChatGPT) extend the offering across the full trip journey, with AI-driven personalization and the Roamie chatbot powering consumer-facing intelligence.

Differentiator

Problem solved

Functional benefit

Brands

• Expedia: Consumer brand offering flights, vacation rentals, hotels, cars, and cruises
• Hotels.com
• Vrbo
• Hotwire
• Orbitz

Products and services

• Expedia.com Expedia Group's flagship all-in-one consumer travel shop offering flights, vacation rentals, hotels, cars, cruises, packages, and intelligent travel tools for end-to-end trip planning.
• Hotels.com Hotel-focused consumer booking brand offering stays across all price points with a rewards program on every booking, flexible management, and loyalty perks (Hotels.com Rewards).
• Vrbo Vacation rental brand for whole-home stays (beach houses, cabins, villas) targeted at families and groups, backed by the VrboCare guarantee, 24/7 support, and verified reviews.
• Expedia for Business / Expedia Partner Solutions Global B2B business providing travel supply, advertising, and partner technology solutions to financial institutions, travel companies, and other businesses, led by President of B2B & CCO Alfonso Paredes.
• Rapid API Suite B2B API ecosystem for travel partners, including Rapid Car API (190 countries), Rapid Flight API (400+ airlines), and Rapid Activities API for global experience bookings, supporting full-trip booking integration.
• Expedia Intelligent Experience Platform AI-focused B2B platform launched May 20, 2026 to help travel partners integrate Expedia's AI intelligence into their interfaces and agent workflows.
• One Key Loyalty Program Unified cross-brand consumer loyalty program spanning Expedia, Hotels.com, and Vrbo, with a co-branded credit card partnership with Wells Fargo and Mastercard and tiered benefits including airport lounge access for Gold and Platinum members.
• Expedia Group Advertising (TravelAds) Premier travel advertising network reaching high-value travelers across Expedia Group surfaces, leveraging first-party data and AI-driven insights for commerce media targeting and sponsored placements.
• Expedia Travel Agency Affiliate Program (TAAP) Global travel advisor affiliate program under President of B2B & CCO Alfonso Paredes enabling travel agencies to resell Expedia inventory.
• Expedia Cruises Cruise booking sub-brand within the Expedia Group portfolio.
• CarRentals.com Car rental booking sub-brand within the Expedia Group portfolio.
• Hotwire Discount/opaque-inventory travel booking brand brought into the Expedia portfolio during the IAC era.
• Orbitz Online travel agency brand acquired by Expedia Group offering flights, hotels, cars, packages, and vacation rentals.
• Travelocity Online travel agency brand acquired by Expedia Group.
• Wotif Australian online travel agency brand acquired by Expedia Group through the Wotif purchase.
• ebookers European online travel agency brand within the Expedia Group portfolio.
• CheapTickets Discount travel booking brand within the Expedia Group portfolio.

Quantifiable outcome

• 77% of travelers likely to book multiple trip elements on the same Expedia platform (Harris Poll, Feb 2026); 83% among Gen Z.
• +6 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

AI capability2 records

Feature5 records

Partnerships

22 partnerships are on record, tiered core, flagship and minor.

• Amazon Prime Day / Choose ChicagocoreGTM or Marketing Partner · 23 June 2026Choose Chicago's first-ever partnership with Amazon making Chicago the exclusive bookable travel destination during Prime Day (June 23-26, 2026), offering 20% discounted hotel rates; bookings powered by Expedia with availability extending into Q1 2027.
• BMO (Bank of Montreal)flagshipChannel Partner/ Reseller/ Distributor · 2 June 2026BMO's new Blue Rewards loyalty program (replacing AIR MILES) features a travel redemption platform powered by Expedia, enabling 400+ brand partner members to book flights, hotels, and car rentals using accumulated Blue Points; new credit cards offer accelerated point earning on gas, groceries, wholesale, and EV charging purchases.
• CarTrawlerflagshipStrategic or Co-development Partner · 20 May 2026Expedia Group agreed to acquire Ireland-based B2B travel platform CarTrawler for ~$350M, extending B2B services into car rentals, ground transport, and Insurtech. CarTrawler's platform connects 550+ car rental suppliers, 500+ mobility suppliers, and approximately 300 travel brands worldwide (including 70+ airlines). Deal expected to close late 2026.
• Meta PlatformsflagshipGTM or Marketing Partner · 20 May 2026AI-powered conversation ads enabling travelers to access Expedia chat directly from Instagram and Facebook, with in-feed trip planning announced at Explore 26. Captures travelers upstream of booking decision and supports Expedia's full-trip platform strategy.
• CLEAR (YOU)coreStrategic or Co-development Partner · 19 May 2026Partnership to integrate CLEAR+ and CLEAR Concierge airport identity verification into Expedia's travel platform for One Key members. Available first in the U.S. at 60+ U.S. airports with tier-based pricing for One Key members; aims to bridge booking and airport experience.
• GoogleflagshipTechnology or Integration · 19 May 2026Founding partner of Google's Universal Commerce Protocol for AI-powered hotel bookings via Search AI Mode and Gemini. Also Direct Offers pilot partner (launched January 2026) and partner in Google's agentic commerce cart for hotel bookings announced at Google I/O alongside Booking.com, Marriott, IHG, Choice, and Wyndham.
• TikTok (ByteDance)flagshipTechnology or Integration · 12 May 2026Launch partner for TikTok Go in the U.S., Indonesia, and Japan, enabling 200M+ American users to discover and book hotels, attractions, and tours directly within the TikTok app. Also beta-test partner for hotel metasearch cards redirecting to Expedia alongside Booking.com and Trip.com.
• AccorcoreStrategic or Co-development Partner · 1 May 2026Multi-market loyalty partnership covering seven markets including France, Germany, and the UAE, allowing Accor members to earn loyalty points on Uber rides and deliveries while leveraging Accor's hotel inventory for Uber's hotel booking feature; also expanded to Uber's 'Hotel Tab' feature.
• Uber TechnologiesflagshipStrategic or Co-development Partner · 29 April 2026Reciprocal partnership announced at Uber Go-Get 2026: Uber users book ~700,000 Expedia hotels and Vrbo rentals in-app with up to 20% off and 10% Uber One credit; Expedia will integrate Uber ride bookings into its app starting June 2026. CEO Dara Khosrowshahi (former Expedia CEO) sits on Expedia's board.
• IShowSpeed (Darren Watkins Jr.)flagshipGTM or Marketing Partner · 29 April 2026Multi-phase global partnership naming Expedia as Official Travel Partner for Gen Z, with 150M+ followers across platforms. Launched via 12-hour livestream across four Caribbean destinations (Dominica, Guadeloupe, St. Kitts & Nevis, St. Maarten) and custom Exspeedia.com hub.
• TiQets (Tiqets International B.V.)flagshipStrategic or Co-development Partner · 10 December 2025Expedia Group agreed to acquire TiQets International B.V., an Amsterdam-based platform for museum and attraction tickets, on December 10, 2025, with the transaction expected to close in Q1 2026 subject to regulatory and Works Council advice. The deal was advised by Barclays and part of a broader industry move into the multi-billion dollar experiences sector.
• Conservation Fund, Nature Conservancy, Trust for Public Land, AllTrails (Expedia Trails Fund)minorOthersExpedia Trails Fund committed $4.3 million to restore trails and protected landscapes at 11 U.S. locations in partnership with these four conservation organizations; sustainability program announced at Explore 2026 conference.
• Capital One (former travel tech client)minorOthersCapital One downgraded its relationship with Expedia; Capital One separately acquired key Hopper travel technology assets and approximately 150 Hopper employees in a deal that weakens Hopper as an independent B2B player and impacts Expedia's Capital One Travel account.
• Royal Bank of Canada (RBC) — former B2B accountminorOthersHopper Technology Solutions replaced Expedia Group to provide travel services for RBC, Canada's largest bank. Expedia previously managed this B2B account, and the change came weeks after Capital One Travel also downgraded its relationship with Expedia.
• OpenAI (ChatGPT platform)coreTechnology or IntegrationExpedia Group is among early pilot brands (alongside Best Buy) testing ChatGPT's advertising platform and Direct Offers integration, with minimum commitments that dropped from $200K-$250K to $50K and CPMs from $60 to $25; ChatGPT weekly users reached 800M.
• OpenAI / ChatGPT App IntegrationscoreTechnology or IntegrationOpenAI introduced app integrations within ChatGPT (US/Canada) allowing users to interact with services including Booking.com, Canva, Uber, Spotify, DoorDash, and others; enables direct actions such as booking hotels, with more partners planned in 2026.
• OpenAI / ChatGPT (AI Agents)coreTechnology or IntegrationReference to Uber CEO Dara Khosrowshahi (who sits on Expedia's board) citing Expedia among rivals being potentially matched by OpenAI's AI-driven travel offerings; contextual indicator of competitive and parallel partnership dynamics.
• Booking.com, Viator, GetYourGuide, Tiqets, Trip.com (TikTok Go launch partners)coreTechnology or IntegrationCo-launch partners with TikTok for TikTok Go in-app travel booking across hotels, attractions, and tours; OTA partners handle payment processing while TikTok retains the customer relationship through the booking moment.
• Marriott International, IHG Hotels & Resorts, Choice Hotels International, Wyndham Hotels & Resorts (Google UCP)flagshipTechnology or IntegrationFounding partners with Google, Booking.com, and Expedia on Universal Commerce Protocol hotel reservation vertical; announced May 19, 2026 for AI agent transactions in Google Search AI Mode and Gemini.
• Sherman (Tour Operators) — through Tiqets relationshipminorStrategic or Co-development PartnerIndirect ecosystem relationship through Expedia's acquisition of TiQets, expanding Expedia into museum and attraction ticketing vertical; expected to close Q1 2026 subject to Works Council advice.
• Marriott International, Airbnb, Booking.com (AI deployment cohort)coreOthersIdentified alongside Marriott, Airbnb, and Booking.com as visible examples of AI work in operations, personalization, and customer service across the travel industry; part of broader industry shift from years of AI discussion to active production deployments.
• Accor (Hotel Tab via Uber)coreStrategic or Co-development PartnerAccor's hotel inventory powers Uber's 'Hotel Tab' feature launched April 30, 2026 alongside Expedia's booking infrastructure, positioning Uber as a new entry point for hotel discovery.

Scale indicators17 records

Recent moves12 records

Expansion highlights7 records

Direct peers

• Trip.com Group: Ctrip-owned global OTA with leadership in Asia-Pacific and growing Western presence. Competes head-to-head with Expedia in flights, hotels, and packages, and is a co-launch partner on TikTok Go and Google's Universal Commerce Protocol.
• KAYAK: Meta-search travel engine owned by Booking Holdings. Direct competitor in price comparison and lead generation for hotels, flights, and cars, competing for the same upper-funnel traveler Expedia targets via its consumer brands and trivago.
• Airbnb: Global alternative accommodations marketplace and the largest direct competitor to Expedia's Vrbo. Overlapping demand from leisure travelers, with growing adjacency into experiences and services that competes with Expedia's full-trip strategy.
• Booking Holdings: Parent of Booking.com, Priceline, Agoda, KAYAK, and OpenTable. The closest direct competitor to Expedia, operating a global OTA across lodging, flights, ground transport, and experiences, with similar B2B platform offerings and a larger share of the global OTA market.
• MakeMyTrip: India's leading online travel company spanning flights, hotels, holidays, and ground transport. One of the top 5 OTA players globally (~54% combined share), serving as a key direct competitor in the fast-growing Indian travel market where Expedia also operates.

Emerging players

• Hopper: AI-driven travel app and B2B platform (Hopper Technology Solutions). Recently won Capital One Travel and RBC travel away from Expedia, positioning it as a rising B2B competitor with sharper AI/fintech capabilities in the financial-institution segment.
• trivago: Hotel meta-search engine majority-owned by Expedia Group. Comparable as a price-comparison and discovery surface in the hotel vertical, with overlapping audience and shared inventory relationships with major OTAs.

Regional players

• Traveloka: Southeast Asia's leading OTA operating across flights, hotels, packages, and attractions. Comparable business model and B2B ambitions in a different geography, positioning it as a regional peer with potential cross-border expansion threat.
• Despegar: Leading Latin American OTA operating across flights, hotels, packages, and car rentals. Comparable full-trip marketplace model focused on a different geography, with overlapping supplier economics and B2B partner strategy.

Broad incumbents

• Google Travel: Google's travel surfaces (Search, Maps, AI Mode, Universal Commerce Protocol) act as both a critical distribution channel and a competitor. As AI-powered booking becomes native to Google Search and Gemini, it represents the most strategically threatening adjacent player to Expedia's marketplace model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/expediagroup
• Facebookfacebook.com/expedia.co.in
• LinkedInlinkedin.com/company/expedia
• Instagraminstagram.com/expediagroup

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries14 records

Funding overview

Funding rounds5 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A28 records

Investments27 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Expedia