Expedia Group names Kern as CEO and raises $3.2bn in capital
US: Expedia Group has named Peter Kern and Eric Hart as its new chief executive and financial officers, taking over from Mark Okerstrom and Alan Pickerill, who both resigned abruptly in December over reported disagreements with the company’s board on strategy. At the same time, the group confirmed through its chairman Barry Diller that it […]
Expedia plans 3000 job cuts to “bloated” organisation
US: Global online travel agency Expedia is planning to lay off up to 3000 employees in job cuts, following December’s boardroom restructuring which saw its CEO and CFO depart. With long-serving chairman and major shareholder Barry Diller calling the organisation “bloated and sclerotic”, the company has told staff in an internal email that it will […]
Expedia Group announces shock CEO and CFO resignations
US: Expedia Group has announced that its CEO Mark Okerstrom and CFO Alan Pickerill have resigned from their posts with immediate effect. As a result, board chairman Barry Diller and vice chairman and Expedia director, Peter Kern, have been tasked with overseeing the company’s executive leadership team for the foreseeable future. They will manage day-to-day […]
Jeff Hurst replaces John Kim as head of Vrbo unit
US: Jeff Hurst has replaced John Kim as senior vice president and general manager of Expedia Group’s vacation rental unit Vrbo. Other changes in the restructuring of Expedia Group’s senior leadership team include Cyril Ranque taking over the role of president of the company’s Travel Partners Group, and Sarah Gavin becoming vice president of Expedia […]
Expedia Group reports revenue growth decline in Vrbo division
US: Expedia Group has reported a decline in revenue growth within its vacation rental business, Vrbo, in the third quarter of 2019, leading the way to a lower profit margin for the year. Expedia’s Washington-based short-term rental unit, Bellevue, reported revenue growth of 14 per cent to $467 million in the three months leading up […]
Expedia Group acquires CanadaStays marketplace
Canada: Expedia Group has completed its acquisition of Canada-based vacation rental marketplace CanadaStays, having already held a strategic partnership together since 2015. Though the full terms of the deal have not been announced, Expedia Group revealed it had purchased the shares of the company in full that it did not already own. Subsequently, CanadaStays, which […]
Expedia confirms vacation rental revenue growth
Worldwide: Expedia Group has revealed its vacation rental business reported a boost to its revenue growth following the rebranding of its Bellevue unit, according to Bloomberg. Bellevue, based in Washington, reported a 17 per cent growth in revenue to $3.15 billion in the three-month period leading up to 30 June. The confirmation marked growing confidence […]
Expedia’s HomeAway segment re-branded to Vrbo
Worldwide: Expedia Group has revealed its HomeAway segment, which includes Vrbo, HomeAway and regional rental brands, is being re-branded to Vrbo in its first quarter earnings report. The update comes at a time of slowing growth in reservations in Expedia Group’s alternative accommodation business, seen by the deceleration in gross bookings from 15 per cent […]
Expedia Group acquires Pillow and ApartmentJet to help list apartments online
Worldwide: Expedia Group has acquired two companies that make it easier to list apartments on short-term rental sites like Airbnb or its subsidiary HomeAway. Expedia said on Thursday that it had acquired San Francisco-based Pillow and Chicago-based ApartmentJet. The former offers a software solution that allows building owners and managers to authorise renters to list […]