Welcome to our dedicated page for Despegar Com news (Ticker: DESP), a resource for investors and traders seeking the latest updates and insights on Despegar Com stock.
Despegar.com, Corp. (DESP) is widely described in its own communications as Latin America’s leading travel technology company and a major online travel agency in the region. The DESP news feed on Stock Titan brings together company announcements that explain how Despegar’s business, partnerships, and ownership structure are evolving over time.
Recent news has focused on Despegar’s acquisition by Prosus N.V., a global technology group. Despegar and Prosus announced a definitive merger agreement for Prosus to acquire Despegar for $19.50 per share in cash, valuing the company at approximately $1.7 billion, followed by confirmation that the acquisition was completed after shareholder and regulatory approvals. These items are central for investors tracking the transition of Despegar from a publicly traded company on the New York Stock Exchange to a business within the Prosus ecosystem.
Beyond M&A activity, DESP news includes quarterly and full-year financial results, where the company reports metrics such as gross bookings, revenue, adjusted EBITDA, segment performance across air, packages, hotels, other travel products, and financial services, as well as trends in loyalty program membership and app transactions. These releases provide insight into Despegar’s operational performance and business mix.
News items also cover strategic partnerships and technology initiatives. Examples include Despegar’s lodging outsourcing agreement with Expedia, a strategic partnership with HBX Group to expand lodging inventory, the licensing of its AI travel assistant Sofia as a SaaS product to Karisma Hotels & Resorts, and the integration of Nubank’s NuPay as a payment option on its platform. Together, these updates help readers understand how Despegar is positioning itself within the Latin American travel and fintech landscape.
For users researching DESP, this news page serves as a centralized archive of official press releases and business updates, useful for reviewing the company’s historical trajectory, strategic decisions, and the context around its acquisition by Prosus.
Despegar.com reported strong financial results for Q4 2024 and full year 2024, with Q4 revenue increasing 8.7% YoY to $221.4 million and adjusted EBITDA rising 18% to $51.5 million. The Latin American travel tech company achieved notable growth despite FX headwinds, with FY24 revenue growing 10% to $774.1 million.
Key highlights include:
- Loyalty Program members grew 41% YoY to 32.5 million
- App transactions reached a record 53.6% of total transactions
- Travel Package sales increased to 36.1% of Gross Bookings
- Total cash position reached $247 million as of December 31, 2024
Significantly, shareholders approved Prosus's acquisition of Despegar for $19.50 per share in an all-cash transaction, with 94.7% voting in favor. The company expanded its travel inventory through partnerships with HBX Group and renewed its agreement with Expedia. The transaction with Prosus is expected to close in Q2 2025.
Despegar (NYSE: DESP), Latin America's leading travel technology company, has announced a strategic partnership with HBX Group, a prominent B2B travel technology marketplace. The collaboration aims to integrate HBX Group's European and North American non-air inventory into Despegar's platform, expanding options for both B2C and B2B customers.
The agreement includes an advance payment from HBX Group to Despegar and requires Despegar to meet specific booking targets over approximately eight and a half years. Failure to meet these targets may result in penalties, including paying HBX Group a percentage of the shortfall amount.
Key benefits include expanded hotel inventory with competitive rates and enhanced travel packages for leisure and business travelers. The partnership is expected to provide Despegar's customers with greater flexibility and choice while giving HBX Group's accommodation suppliers access to Despegar's distribution channels.
Prosus has announced a definitive agreement to acquire Despegar (NYSE: DESP), Latin America's leading Online Travel Agency, for US$1.7 billion at $19.50 per share, representing a 33% premium. The transaction, expected to close in Q2 2025, will expand Prosus's Latin American ecosystem to serve over 100 million customers.
Despegar operates in 19 Latin American markets through B2C and B2B platforms, handling over 9.5 million transactions annually. The company generated $5.3 billion in gross bookings, $706 million in revenue, and $116 million in EBITDA for 2023. Prosus plans to create synergies between Despegar and its regional businesses, including iFood and Sympla, leveraging its consumer ecosystem to drive growth and enhance platform value.
Despegar.com (NYSE: DESP), Latin America's leading travel technology company, has announced a definitive merger agreement to be acquired by Prosus in an all-cash transaction valued at approximately $1.7 billion. Under the agreement, shareholders will receive $19.50 per share, representing a 34% premium over the 90-day volume weighted average trading price.
The transaction, expected to close in Q2 2025, has been approved by Despegar's Board of Directors and will result in the company becoming privately held and delisted from the NYSE. As part of the Prosus Group, Despegar aims to accelerate its growth strategy, leveraging Prosus's resources, operational expertise, and AI capabilities to enhance its market presence in Latin America.
WeVets, a leading independent veterinary hospital group in Brazil, has received a strategic investment from L Catterton, a global consumer-focused investment firm. Founded in 2020, WeVets operates 15 hospitals and two labs in São Paulo and Rio Grande do Sul, providing 24-hour comprehensive veterinary care through a tech-driven model. The investment will support WeVets' expansion across Brazil through acquisitions and organic growth. The company aims to become the leading vet hospital platform in Brazil's highly fragmented pet market, which is the third largest globally. L Catterton brings significant experience in the pet care sector, with investments in multiple successful pet-focused businesses worldwide.
Despegar.com (NYSE: DESP) reported strong Q3 2024 financial results with record profitability. Adjusted EBITDA increased 94% YoY to $48.0 million, with margins reaching a historic high of 24.8%. Revenues grew 9% YoY to $193.9 million, while FX-neutral revenues rose 53% YoY. The company achieved a record Take Rate of 14.6% and saw B2B Gross Bookings increase 23% YoY. App transactions reached 50.5% of total transactions, and loyalty program members grew 51% YoY to 30 million. Despegar raised its FY2024 Adjusted EBITDA guidance to at least $170 million while maintaining revenue guidance of at least $760 million.
Despegar.com (NYSE: DESP), Latin America's leading travel technology company, has scheduled its Third Quarter 2024 financial results announcement for Thursday, November 14, 2024, after market close. The company will host a conference call at 4:30 p.m. Eastern Time on the same day. Participants can join via phone using the provided U.S. domestic and International dial-in numbers, or through the webcast link. Pre-registration is available for immediate access to the call.
Despegar (NYSE: DESP) announces its first Software as a Service (SaaS) partnership with Karisma Hotels & Resorts, licensing its AI Travel Assistant, Sofia. This collaboration will enhance Karisma's existing chatbot functionalities, offering personalized assistance to guests. The partnership represents Despegar's strategic expansion into SaaS offerings, positioning the company to tap into new revenue streams while strengthening its B2B partnerships. By integrating Sofia, Karisma aims to improve customer travel planning and booking experiences, setting new standards for digital engagement in hospitality.
Despegar.com, Corp. (NYSE: DESP), Latin America's leading travel technology company, and Nubank (NYSE: NU), the largest digital banking platform outside Asia, have announced the integration of NuPay as a new payment option on Despegar's travel platform. This strategic collaboration offers multiple benefits:
- Despegar gains access to Nubank's 95.5 million Brazilian customers
- Nubank's customers get access to Despegar's travel services with increased spending limits and enhanced purchasing power
- The partnership aims to create a more streamlined payment process, potentially boosting Despegar's conversion rates
- Both companies can capitalize on their strengths, delivering enhanced value to customers and opening new opportunities
This integration combines Nubank's extensive customer base with Despegar's travel services, aiming to improve the overall user experience.