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 (NYSE: DESP) reported strong Q2 2024 financial results, with Adjusted EBITDA up 22% YoY to $36.7 million and revenues increasing 12% YoY to $185.0 million. The company's focus on profitable growth is evident in its strong Take Rate of 13.8%. Gross Bookings increased 4% YoY to $1.3 billion, impacted by FX headwinds, but grew 37% YoY on an FX-neutral basis. Adjusted Net Income surged 397% YoY to $30.2 million.
Despegar raised its FY2024 Adjusted EBITDA guidance to at least $160 million, representing at least 39% YoY growth. However, due to FX volatility and the divestment of its DMC business, the company updated its annual revenue guidance from at least $820 million to at least $760 million.
Despegar.com (NYSE: DESP), Latin America's leading travel technology company, has announced a strategic alliance with World2Meet, the travel division of Iberostar Group. As part of this alliance, World2Meet has acquired Despegar's Destination Management Company (DMC) BDExperience, effective August 1, 2024. World2Meet will now operate as a preferred partner for Despegar in providing destination services in Mexico and the Dominican Republic.
This divestiture aligns with Despegar's focus on key long-term growth strategies, improving operational efficiency, and maximizing return on capital. It allows the company to concentrate resources on its core business and strengthen its organic growth profile. BDExperience, with over 30 years of experience in the travel industry, specializes in airport transfers, tours, and personalized tourist assistance. The transaction will result in the transfer of nearly 600 BDExperience employees from Despegar to World2Meet.
Despegar.com (NYSE: DESP), Latin America's leading travel technology company, has announced it will report its Second Quarter 2024 financial results on Thursday, August 15, 2024, after the market close. The company will host a conference call on the same day at 4:30 p.m. Eastern Time to discuss the results.
Investors and analysts can participate in the conference call by dialing +1 800 715 9871 (U.S. domestic) or +1 646 307 1963 (International). Pre-registration is available for immediate access to the call. A webcast of the conference call will also be available, with a replay option provided.
Despegar (NYSE: DESP), Latin America's leading travel technology company, has been added to the Russell 2000 and Russell 3000 indexes, effective July 1, 2024. CEO Damian Scokin highlighted that inclusion in these indexes validates Despegar's growth and capital allocation strategies. The Russell 3000 Index includes the 3,000 largest U.S. traded stocks, serving as an important benchmark for investment managers and institutional investors. Approximately $9.1 trillion in assets are benchmarked against Russell's U.S. indexes, making this inclusion a significant milestone for Despegar.
Despegar, Latin America's leading travel technology company, published its 2023 ESG report, showcasing significant progress in environmental, social, and governance areas. By migrating to Amazon's AWS cloud, Despegar aims to reduce its computing carbon footprint by 80% starting in 2025. The company is enhancing its sustainable travel options and increasing investments in community programs that support local economies and promote community-beneficial tourism. For employee welfare, new policies include flexible work arrangements and expanded health programs. Governance improvements focus on transparency and accountability, with new compliance measures and stakeholder engagement initiatives. The full report is available at their investor site.
Despegar, Latin America's leading travel tech company, has announced a partnership with Shakira for its new campaign: Dream, Choose, Travel. This collaboration aims to inspire and encourage Latin Americans to embrace travel.
Marcelo Grether, Despegar's Chief Commercial Officer, highlighted Shakira's Latin American roots and global influence as key reasons for selecting her as the campaign's ambassador. The campaign will launch soon, aiming to connect people through travel and memorable experiences.
Despegar.com reported strong financial results for 1Q24. Gross Bookings rose by 12% YoY to $1.3 billion and revenues increased 9% YoY to $173.7 million. On an FX-neutral basis, revenues grew 36% YoY. Adjusted EBITDA saw a remarkable 126% YoY increase to $39 million, with a record margin of 22.4%. Adjusted Net Income increased 68% YoY to $22.4 million.
Key markets like Brazil and Mexico showed robust demand. Notable improvements included a 47% YoY increase in B2B Gross Bookings and an 83% YoY rise in Loyalty Program members. The company also launched an AI travel assistant, SOFIA.
Despite a total cash position decline to $213 million, due to working capital strategies, dividend payments, and seasonal trends, Despegar remains confident, raising its 2024 revenue guidance to at least $820 million and Adjusted EBITDA to at least $155 million.
Despegar.com, Corp. (NYSE: DESP), Latin America’s top travel technology company, will announce its First Quarter 2024 financial results on May 16, 2024. The company operates in 19 countries, offering alternative payment methods, and is traded on the NYSE. Despegar has a strong market presence and aims to enhance travel experiences for Latin Americans.
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