Core Insights - Expedia Group, Inc. has a market capitalization of $27.2 billion and operates in the online travel sector, offering services in B2C, B2B, and metasearch segments with brands like Expedia.com, Hotels.com, Vrbo, and trivago [1] Performance Overview - Over the past 52 weeks, Expedia's stock has increased by 38.3%, outperforming the S&P 500 Index's 18.1% gain [2] - Year-to-date, Expedia shares are up 19.7%, compared to the S&P 500's 16.8% return [2] - The company has also outperformed the Consumer Discretionary Select Sector SPDR Fund (XLY), which saw an 18.2% increase over the same period [3] Financial Results - On August 7, Expedia's shares rose by 4.1% following the release of Q2 2025 results, which showed a 6% revenue increase to $3.79 billion and a 21% rise in adjusted EPS to $4.24 [4] - The growth was attributed to a 15% increase in B2B revenue and a 19% increase in Advertising revenue, along with a 16% growth in adjusted EBITDA and a 190 basis points margin expansion [4] - The company raised its Q3 2025 guidance, expecting gross bookings growth of 5% to 7% and revenue growth of 4% to 6% [4] Analyst Expectations - For the fiscal year ending December 2025, analysts project a 22.3% year-over-year growth in EPS to $11.51 [5] - The consensus rating among 35 analysts is a "Moderate Buy," with 11 "Strong Buy" ratings, one "Moderate Buy," 22 "Holds," and one "Strong Sell" [5] Price Targets - Truist raised its price target for Expedia to $210 while maintaining a "Hold" rating [6] - The mean price target of $227.18 indicates a 1.6% premium to the current price, while the highest target of $290 suggests a potential upside of 29.6% [6]

Core Insights - MakeMyTrip has shifted its focus from air ticket bookings to hotels and homestays, building a significant inventory of 95,000 accommodations across India, which allows it to cater to travelers venturing into less populated areas [3][6][21] - The hotel sector is crucial for MakeMyTrip's future growth, with hotels offering higher margins compared to air ticket bookings, and the company aims to become a comprehensive travel platform [5][6][14] - MakeMyTrip commands a dominant market share of 55.3% in the online travel agency (OTA) space, significantly outpacing competitors like Cleartrip and iXigo [11][8] Market Overview - The gross booking value (GBV) for India's air market is projected at $27.5 billion for 2023-24, with hotels and rail at $14.6 billion and $8.5 billion respectively, indicating a robust travel market [4] - The hotel sector has substantial growth potential, with only 27% of the total hotel GBV sourced through online channels, highlighting a fragmented industry [21][22] Competitive Landscape - MakeMyTrip faces increasing competition in the hotel segment, exemplified by Prosus acquiring a 15% stake in rival iXigo, which plans to expand its hotel offerings [5][6] - The company has executed a $3.1 billion share buyback to reduce the influence of Trip.com, its largest shareholder, which has decreased its stake from over 45% to between 16.90% and 19.99% [8] Financial Performance - MakeMyTrip is nearing $1 billion in revenue, with a 25% growth in topline for 2024-25, and is on track to cross $10 billion in GBV this fiscal year [8][14] - The adjusted margins for the hotel and package segment have become the largest contributor to profitability, accounting for 42.7% compared to the air category's 38.9% [14][15] Strategic Initiatives - The company is investing in technology and support systems to enhance its homestays and vacation rentals business, which is currently about 10% of its daily business-to-consumer volumes [35][36] - MakeMyTrip is focusing on quality control and customer service by providing dedicated account managers to homestay operators, ensuring accurate listings and customer support [31][35] Challenges and Risks - MakeMyTrip faces challenges in scaling its supply, maintaining quality across a fragmented hotel market, and navigating technological disruptions from competitors [37][39] - The company has been fined for unfair business practices related to price parity clauses, which could impact its relationships with hotel partners [41][42]

With a market cap of $28 billion, Expedia Group, Inc. (EXPE) is a leading global online travel and technology company that operates a broad portfolio of travel brands serving both consumers and businesses. The Seattle-based travel technology company’s primary mission is to power global travel through technology-driven solutions, enabling users to plan and book flights, hotels, vacation rentals, car rentals, cruises, and activities. The travel titan is expected to announce its fiscal Q3 2025 earnings resul ...

Core Insights - Expedia Group is a leading online travel company offering a variety of services including hotel bookings, airline tickets, and vacation packages, operating through brands like Expedia.com, Hotels.com, and Vrbo [1] - The company faces competition from major players such as Booking Holdings and TripAdvisor [1] Financial Performance - Jefferies set a price target of $220 for EXPE, indicating a potential upside of approximately 2.05% from the current stock price of $214.76, which has seen a slight increase of 0.56% or $1.19 [2][6] - Expedia's market capitalization is approximately $25.38 billion, with a trading volume of 1,535,804 shares on NASDAQ [5] Market Trends - The "Unpack '26: The Trends in Travel" report highlights shifts in traveler behavior and introduces the Smart Travel Health Check to address overcrowding in tourism, potentially enhancing customer satisfaction and driving future growth [3][6] - The report also identifies unconventional travel trends such as unique sports, book club retreats, and farm stays, based on feedback from 24,000 global travelers, which may help Expedia differentiate itself and attract a broader customer base [4][6]

Core Viewpoint - Jefferies maintains a "Hold" rating for Expedia while raising its price target from $210 to $220, reflecting confidence in the company's ability to navigate industry challenges and capitalize on emerging travel trends [1][2]. Company Developments - Expedia's report "Unpack '26: The Trends in Travel" highlights significant changes in traveler behavior and introduces the Smart Travel Health Check to address overcrowding in tourism, aligning with Jefferies' rating decision [2]. - The company has enhanced its B2B offerings with an AI-powered trip planner and multiple APIs, aimed at boosting partner growth and improving customer experiences, which supports the current stock price [4]. Market Performance - The stock is currently priced at $214.65, with fluctuations between $212.61 and $216.05 during the day, and a market capitalization of approximately $25.48 billion [1][5]. - Over the past year, Expedia's stock has seen a high of $240.98 and a low of $130.01, indicating significant volatility and active investor interest with a trading volume of 759,499 shares on NASDAQ [5]. Emerging Trends - Innovative travel trends for 2026 include unique experiences such as sports events, book club retreats, salvaged hotels, and farm stays, which could attract new segments of travelers and impact Expedia's future growth [3].

Core Insights - Expedia Group's annual report, "Unpack '26," highlights significant shifts in traveler behavior and emerging travel trends for 2026, focusing on sustainable tourism and unique experiences [1][28]. Travel Trends - The report identifies seven key travel trends for 2026, including Set-Jetting, Hotel Hop, Farm Charm, Readaways, Fan Voyage, and Salvaged Stays, reflecting a growing interest in immersive and local experiences [5][32]. - Set-Jetting, inspired by movies and TV shows, is projected to become an $8 billion industry in the U.S., with 81% of Gen Z and Millennial travelers planning trips based on screen inspirations [22][26]. - Hotel Hop is gaining traction, with 54% of travelers opting to book multiple hotels within a single destination, particularly popular among younger travelers [15][32]. - Farm Charm is on the rise, with 84% of travelers expressing interest in farm stays, indicating a shift towards nature-based, slow travel experiences [17][32]. - Readaways, focusing on reading and relaxation, are appealing to 91% of travelers, with a notable increase in interest for literary-themed retreats [4][17]. Destinations of the Year - The 2026 Destinations of the Year list features locations with significant search increases, including Big Sky, Montana (+92%), Okinawa, Japan (+71%), and Sardinia, Italy (+63%), showcasing rising global traveler interest [8][32]. - Six of these destinations meet the criteria for Expedia's Smart Travel Health Check, which emphasizes sustainable tourism practices [6][25]. Hotels of the Year - The 2026 Hotels of the Year list highlights the trend of Salvaged Stays, where historical buildings are repurposed into unique accommodations, with properties like Hotel Seiryu Kyoto Kiyomizu showing a 194% increase in searches [12][13]. - The report indicates a growing demand for hotels that combine historical architecture with modern amenities, appealing to travelers seeking character and cultural relevance [12][32]. Fan Voyage - The Fan Voyage trend reveals a surge in interest for local sporting events, with 57% of travelers likely to attend regional sports while traveling, emphasizing the importance of community and culture [9][10].

Core Insights - The article discusses Expedia's predictions for how travelers from the UAE will explore the world in 2026, highlighting trends and preferences in travel behavior [1] Group 1: Travel Trends - UAE travelers are expected to prioritize sustainable travel options, reflecting a growing awareness of environmental issues [1] - There is an anticipated increase in the use of technology for travel planning and booking, with a focus on personalized experiences [1] - The demand for unique and immersive travel experiences is projected to rise, with travelers seeking to engage more deeply with local cultures [1] Group 2: Market Opportunities - The travel industry in the UAE is likely to see significant growth, driven by the increasing number of travelers and their evolving preferences [1] - Companies that adapt to the changing demands of travelers, particularly in sustainability and technology, may find new opportunities for growth [1] - The emphasis on experiential travel could lead to a shift in marketing strategies for travel companies targeting UAE consumers [1]

Core Insights - ClearBridge Investments' "ClearBridge Mid Cap Growth Strategy" reported modest gains in Q3 2025, outperforming the Russell Midcap Growth Index which returned 2.8% [1] - The strategy is positioned to benefit from a fundamental, bottom-up investment philosophy despite near-term volatility [1] Company Performance - Expedia Group, Inc. (NASDAQ:EXPE) has a market capitalization of $23.58 billion, with a one-month return of -2.42% and a 52-week gain of 44.06% [2] - As of October 9, 2025, Expedia's stock closed at $216.81 per share, increasing its market capitalization to $26.823 billion [2] Sector Analysis - The consumer discretionary sector, including restaurant holdings, negatively impacted performance; however, Expedia Group was a bright spot due to strong B2B bookings and margin expansion from advertising monetization [3] Hedge Fund Interest - Expedia Group, Inc. was held by 56 hedge fund portfolios at the end of Q2 2025, an increase from 54 in the previous quarter [4] - In Q2 2025, Expedia reported revenue of $3.8 billion, reflecting a 6% year-over-year increase [4]

Investment Rating - The industry investment rating is "Outperform" [1][60]. Core Insights - The report highlights a significant recovery in civil aviation passenger traffic, with major airports seeing a notable rebound in international passenger flow [4][5]. - There is a sustained enthusiasm for domestic travel during holidays, with inbound tourism continuing to thrive [4][15]. - The service sector shows a positive trend, with service consumption and production indices on the rise [30][31]. Summary by Sections Civil Aviation Recovery - Civil aviation passenger volume is recovering, with August 2025 domestic passenger volume reaching approximately 75.36 million, a 3.3% increase from 2024 and a 23.1% increase from 2019 [8]. - The average domestic economy class ticket price in August 2025 was 694.1 yuan, down 1.0% from 2024 and 8.5% from 2019 [8]. - International passenger volume in August 2025 was about 7.47 million, a 15.3% increase from 2024 and a 6.5% increase from 2019 [10]. Domestic Travel Enthusiasm - During the National Day and Mid-Autumn Festival holiday, domestic travel reached 888 million trips, an increase of 1.23 million from 2024, with total spending of 809 billion yuan, up 1.08 billion yuan from 2024 [18]. - The average spending per trip during the holiday was 911 yuan, surpassing 2019 levels but slightly lower than 2023 [20]. - The average travel radius for tourists reached 212.66 kilometers, a 14.8% increase year-on-year, indicating a growing willingness to travel further [23]. Service Sector Performance - In August 2025, restaurant revenue grew by 2.1%, and retail sales increased by 3.6%, with the service production index rising by 5.6% [31]. - The service sector PMI remained above the threshold, recording 50.1% in September, indicating ongoing demand recovery [33]. - The total revenue of the service industry from January to July 2025 saw a cumulative year-on-year increase of 7.4% [31]. Key Company Tracking - Ctrip's net profit for 2025 is projected to be 17.71 billion yuan, with a potential for valuation improvement compared to international OTA leaders [54]. - The report indicates a strong trend towards long-distance and cross-border travel, with significant growth in bookings for destinations beyond traditional hotspots [53]. - The average occupancy rate for star-rated hotels in Shanghai reached 71.90% in August 2025, recovering to 105.74% of 2019 levels [47].

Group 1 - Mark Mahaney, head of internet research at Evercore ISI, identifies Expedia (EXPE) as a top investment pick due to its cheap valuation, trading at 13-14 times earnings, which is below market multiples [1] - The new management at Expedia is expected to improve execution, potentially leading to growth rates that converge with industry leaders like Booking and Airbnb [1] - If the growth and valuation convergence continues, it is anticipated that being long on Expedia will be a beneficial investment strategy [1]