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Dara Khosrowshahi: ‘For 2017 we feel we have a collection of assets that’s complete’
Expedia to polish ‘marbles’ as it targets $100bn sales
BOSSOFONLINE GIANT FORECASTS ‘ORGANICGROWTH’ NEXT YEAR AFTER SPATEOF RIVAL OTA ACQUISITIONS. LEE HAYHURST REPORTS FROM LAS VEGAS
Expedia says its portfolio of travel assets is complete for 2017, as it pursues a period of consolidation following a succession of acquisitions.
Chief executive Dara
Khosrowshahi said the firm would be more “inward-looking” and target “organic growth” next year. He was speaking at Expedia’s
17th annual partner conference in Las Vegas last week where more than 4,000 hoteliers, airlines, cruise operators and other suppliers marked its 20th birthday. During the conference Expedia’s
recent flurry of acquisitions – including rival OTAs Travelocity,
72
travelweekly.co.uk 15 December 2016
Orbitz/eBookers and holiday rental site HomeAway – was referred to as “collecting marbles”. Khosrowshahi said: “We have
collected a lot of marbles over the last three to four years. “This year [2017] for us is going
to be more of an organic growth year, more an inward-looking year. “These integrations have been successful, but have put a lot of pressure on the business. For 2017 we feel we have a collection of assets that’s complete. “We are really going to focus
on developing these in 2017. In 2018 I may look up and become more greedy for marbles.”
During the conference,
Khosrowshahi predicted Expedia would become the world’s first $100 billion agency within two years. Currently it turns over $71 billion and is growing at 30% year on year. He said Asia would be where
much of that growth would come, although Europe offered shorter- term growth opportunities given the strength of the dollar. “Europe is our second-largest
market and while Asia has long- term potential, we think Europe has immediate potential,” he said. “We have millions of American
travellers and Europe has become more and more affordable.” Khosrowshahi said the weak
euro and pound make it cheaper for US firms to “put the foot on
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