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 4Q20 results, showing a 354% increase in revenues to $53.2 million QoQ, though down 63% YoY. Transactions grew 111% QoQ, totaling 1.3 million, but declined 56% YoY. Gross bookings reached $401.3 million, up 143% QoQ yet down 69% YoY. Adjusted EBITDA loss decreased to $21.4 million from $33.7 million QoQ. The company maintained a solid cash position of $350.5 million. CEO Damian Scokin noted improvements despite ongoing challenges, emphasizing the potential for a bumpy recovery in travel demand due to COVID-19 impacts.
Despegar.com, Corp. (NYSE: DESP), the top online travel company in Latin America, is set to release its Fourth Quarter 2020 financial results on March 11, 2021, before the market opens. A conference call will follow at 8:00 a.m. ET on the same day. The company is currently in a quiet period from February 22 to March 11, 2021. Despegar serves over 18 million customers and operates in 20 countries across the region, offering a wide range of travel services including flights, accommodations, and activities.
Despegar.com (NYSE: DESP) announced its Q3 2020 results, reporting gross bookings of $165.3 million, a significant 86% decline YoY, though a 229% increase sequentially. Revenue was $11.7 million, down 91% YoY but up from negative revenue in Q2. Adjusted EBITDA loss improved to $33.7 million from $65.8 million in Q2. The company has a solid cash position of $386 million after a $200 million capital raise. Despegar completed the acquisition of Best Day Travel Group, which is expected to enhance its domestic travel focus, especially in Mexico amidst ongoing travel restrictions in other regions.
Despegar.com, Corp. (NYSE: DESP), Latin America's leading online travel company, will announce its Q3 2020 results on November 12, 2020, before the market opens. A conference call will follow at 8:00 a.m. Eastern Time. The company is currently in a quiet period from October 28 to November 12, 2020. Despegar serves over 18 million customers, offering a wide array of travel services, including flights, accommodations, and car rentals, through its platforms.
Despegar.com (NYSE:DESP) has successfully acquired Best Day Travel Group, a leading Mexican travel agency, as of October 1, 2020. The acquisition, valued at approximately US$56.5 million, positions Despegar to enhance its offerings in the Hotels, Packages, and Other Travel Products segment, particularly benefiting from Best Day's strong market presence. Best Day generated approximately US$140 million in revenue in 2019, with 95% from its core segments. The deal includes a potential additional payment based on share performance, facilitating a cash-preserving strategy amidst ongoing global travel challenges.