Expedia Group - EXPE STOCK NEWS

Expedia Group highlights its commitment to sustainability in travel, emphasizing the need for responsible practices due to growing traveler demand for eco-friendly options. In 2022, terms related to sustainability in traveler feedback doubled. The company signed the Glasgow Declaration and launched the Open World strategy, focusing on environmental sustainability, inclusive access, and economic mobility. Key commitments include aligning with a net zero future and innovating sustainable travel solutions. A forthcoming Climate Action Plan will outline strategies to decarbonize operations and integrate climate risk. Collaborating with destination marketing organizations, Expedia aims to empower local leaders in climate action. Over 90% of consumers seek sustainable travel options, but 70% feel overwhelmed. Expedia is testing features to clarify sustainability practices for travelers, reinforcing its vision for a responsible travel industry.

Expedia Group (NASDAQ: EXPE) will announce its first quarter 2023 financial results on May 4, 2023, for the period ending March 31, 2023. The earnings release will be published after market close, followed by a webcast at 1:30 PM PT / 4:30 PM ET. Interested investors can access both the release and the webcast through the Investor Relations section of Expedia's website at ir.expediagroup.com. A replay of the call will be available for three months thereafter. Expedia Group operates a comprehensive travel platform, offering various services through brands like Expedia, Hotels.com, Vrbo, and more, aimed at enhancing travel experiences and supporting partner growth.

Expedia's Summer Travel Forecast reveals a significant boost in travel interest among U.S. travelers, with overall flight searches up 25% from last year for June through August. Popular domestic destinations include New York and Los Angeles, while international searches surged for Japan and New Zealand. Average airfare is projected to decrease by $125 from early July to August, providing savings opportunities. Travelers are encouraged to book 21 to 60 days in advance for the best domestic rates and to utilize features like Price Drop Protection for refunds on fare drops post-booking. Key insights suggest late August as a cost-effective travel time, with Thursday, August 24 being the least busy travel day. The report highlights the increasing demand for longer-haul trips and suggests strategic planning for summer vacations.

Expedia has launched a new conversational trip planning feature in its app, powered by ChatGPT. This beta release allows users to engage in open-ended conversations to receive personalized travel recommendations. The feature aims to streamline the planning process by automatically saving discussed options, making it easier for users to organize their trips. Peter Kern, Vice Chairman and CEO, emphasized the integration of AI to enhance user experience. The feature is currently available on the Expedia iOS app and is designed to provide exclusive discounts and rewards, with ongoing adjustments based on user feedback.

Expedia Group highlights the importance of wellness and community in the workplace, specifically through the lens of running. According to a National Runner Survey, only 1.6% of marathon runners in the U.S. identify as African-American. Leaders Kira West and Jaison Williams share their personal journeys in running and how Expedia has fostered their wellness through travel perks and fitness benefits. Both emphasize that running parallels professional growth, with lessons of consistency and preparation being essential to success. The company supports employee wellness by offering travel discounts and health benefits, aiding employees in participating in events like marathons.

Expedia Group is committed to inclusivity, particularly for Black travelers, launching the Black and Well Traveled community to promote year-long engagement. Recently, the company hosted journalists and influencers at the National Brotherhood of Skiers 50th anniversary summit, focusing on making skiing more accessible for the Black community. The summit featured experiences on the slopes and a welcome dinner at a luxury Vrbo property. Key figures from Expedia, including Alexandra Legend Siegel, participated in discussions on diversity initiatives. This effort aligns with Expedia's broader mission to remove barriers in travel.

A new trend termed Thirst Trips has emerged, with a 35% increase in searches for poolside vacations and short getaways, as reported by Hotels.com. This trend reflects a growing desire for quick holiday escapes during the upcoming 98-day period without a federal holiday in the U.S. Average daily hotel rates are currently 10% lower than summer's peak, with the most affordable rates observed at the beginning of March. The data indicates a significant rise in interest in weekend getaways post-January, with searches climbing by 10% month-over-month. The report highlights that most bookings occur within a week of travel, showcasing a shift towards shorter, more spontaneous trips.

Hotels.com, the NBA's official travel sponsor, is launching a humorous ad campaign featuring comedians Sam Richardson and Ike Barinholtz as hotel staff during the NBA All-Star weekend (February 17–19, 2023). This marks Hotels.com’s first TV spots since their multi-year partnership with the NBA began in 2020. The ads showcase the unique accommodations made for NBA players, highlighting their routines while traveling for games. A recent survey revealed that basketball fans are willing to travel considerable distances to see their favorite teams, with many preferring 4- or 5-star hotels. The campaign will air on various platforms, including ESPN and NBA TV.