Following Expedia Group’s release of its Q2 2020 results, travel industry experts noted that since homesharing is the way forward for many – with tourists opting for a service where they can clean to their own standards – it is no surprise that Vrbo helped Expedia Group’s bookings turn positive in May and offered a green shoot for recovery.
However, a cautious approach is still critical. Expedia Group is the dominant online travel agency (OTA) in the US and holds a large market share. As the US currently remains the destination with the highest number of COVID-19 cases and deaths worldwide, 67% of US travelers are staying home as much as possible and 53% remain ‘extremely concerned’ about the outbreak, according to latest survey.
Expedia Group is without doubt in a stronger position than many other players having boosted finances, dealt well with refunds and invested US$275 million in supplier partnerships for recovery – a grey area at Booking Holdings, which is yet to be confirmed.
Undeniably, there are chances of recovery but it is integral for businesses to continually invest in contingency planning as COVID-19 remains widely unpredictable.
Source: eTurbo News
Expedia Group’s uptick for Vrbo offers hope for recovery