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Expedia Group Inc EXPE

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Stewardship

PREMIUM

Expedia's Near-Term Outlook Is Vacant, but Long-Term We See This as a Name to Occupy

Dan Wasiolek Senior Equity Analyst

Analyst Note

| Dan Wasiolek |

Although coronavirus headwinds drove Expedia's second-quarter net bookings down 90% versus our estimate for a 78% drop, we still believe the company continues to position itself for sustainable network advantages (source of its narrow moat) as travel demand is set to fully recover by 2023.

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Company Profile

Business Description

Expedia is the world's largest online travel agency by bookings, offering services for lodging (70% of total 2019 sales), air tickets (7%), rental cars, cruises, in-destination, and other (14%), and advertising revenue (9%). Expedia operates a number of branded travel booking sites, including Expedia.com, Hotels.com, Travelocity, Orbitz, Wotif, AirAsia, Egencia, and Vrbo. It has also expanded into travel media with the acquisition of Trivago. Transaction fees for online bookings account for the bulk of sales and profits.

Contact
1111 Expedia Group Way W
Seattle, WA, 98119
T +1 206 481-7200
Sector Consumer Cyclical
Industry Travel Services
Most Recent Earnings Jun 30, 2020
Fiscal Year End Dec 31, 2019
Stock Type Cyclical
Employees 25,400

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