Expedia Group Inc.
- Industry
- Internet Platforms
- Exchange
- US
- Country
- USA
- IPO date
- Nov 10, 1999
- Employees
- 16,000
- Website
- www.expediagroup.com
Composite valuation range · conservative $140–$160 / fair $160–$225 / optimistic $225–$350. At $278.37, Within the optimistic intrinsic-value range · much expectation priced in.
At publication $182.73 (May 29, 2026)
Data from EODHD, shown in the reporting currency; for reference only, not investment advice.
Expedia Group, Inc. operates as an online travel company in the United States and internationally. The company operates through B2C, B2B, and trivago segments. The B2C segment includes Brand Expedia, a full-service online travel brand offers various travel products and services; Hotels.com for lodging accommodations; Vrbo, an online marketplace for the alternative accommodations; and Orbitz, Travelocity, ebookers, and Wotif Group. The B2B segment provides various travel and non-travel companies including airlines, offline travel agents, online retailers, corporate travel management, and financial institutions who leverage its travel technology and tap into its diverse supply to augment their offerings and market Expedia Group rates and availabilities to its travelers. The trivago segment sends referrals to online travel companies and travel service providers from hotel metasearch websites. In addition, it provides brand advertising through online and offline channels, loyalty programs, mobile apps, and search engine marketing, as well as metasearch, social media, direct and personalized traveler communications on its websites, and through direct e-mail communication with its travelers. The company was formerly known as Expedia, Inc. and changed its name to Expedia Group, Inc. in March 2018. Expedia Group, Inc. was founded in 1996 and is headquartered in Seattle, Washington.
History
Expedia Group, Inc. was founded in 1996 and is headquartered in Seattle, Washington, and conducted its IPO on November 10, 1999. The company was formerly known as Expedia, Inc. and changed its name to Expedia Group, Inc. in March 2018. It has grown into a global online travel platform organized into three segments: B2C, B2B, and trivago. The B2C portfolio spans multiple brands including Brand Expedia, Hotels.com, Vrbo, Orbitz, Travelocity, ebookers, and Wotif Group, while the B2B segment supplies inventory and travel technology to airlines, offline travel agents, online retailers, corporate travel management, and financial institutions. By 2025 the company generated $14.733 billion in revenue and employed roughly 16,000 people, with lodging the core product line at $11.752 billion of revenue versus $407 million in air. By business model, 2025 revenue split into $10.256 billion merchant, $3.183 billion agency, and $1.294 billion advertising and other, underscoring its evolution into a lodging-centric distribution platform.
Industry position
Expedia Group is one of the leading global online travel agencies, described as the world's second-largest OTA platform, with lodging distribution as its core. Within an industry where Phocuswright (cited by Expedia) puts global travel spending above $2 trillion by 2026 and the U.S. OTA market at $108.5 billion of gross bookings in 2024 (up 4%), its principal competitors are Booking Holdings, followed by Airbnb in lodging and short-term rentals and Trip.com in Asia and outbound travel. By 2025 scale, Expedia posted $14.733 billion in revenue and $1.871 billion in operating income, larger in revenue than Airbnb ($12.241 billion) but with operating income ($1.871 billion) below both Booking ($8.825 billion) and Airbnb ($2.544 billion). Its competitive position rests on sources including a unified technology platform, cross-brand supply, the B2B Rapid API, and the One Key unified loyalty program, with B2B revenue growing 18% in 2025; cost of revenue fell from 12.3% of revenue in 2023 to 9.9% in 2025. At the same time the platform remains heavily reliant on search and metasearch traffic, with 2025 total sales and marketing expense of about $8.185 billion (~55.6% of revenue) against Booking's $8.186 billion (30.4%).