DOCSLIB.ORG

Alternative Accommodations Overview

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Alternative Accommodations Overview Alternative Accommodations Overview © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Contents • Alternative accommodation defined • History of alternative accommodation and how it works • Alternative accommodation ecosystem and players • Reasons for owning a vacation rental and analyzing performance • Types of alternative accommodations roles 2 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Alternative accommodation defined 3 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Alternative lodging defined Alternative accommodations is a loosely defined catchall for lodging other than hotels including a variety of home types and bed and breakfasts. 4 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Vacation rentals Typically refer to second homes in beach, lake or ski destinations. They are fully furnished and only occupied by the person who made the reservation. 5 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Short-term rentals Can include vacation rentals but typically refers to primary residences in urban destinations. These rentals can sometimes be a bedroom in a home – not necessarily owned by the host. 6 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Bed and breakfasts Most are private family homes that typically have between four and eleven rooms that can be rented separately, with six being the average. In addition, a B&B usually has the host(s) living in the house and sometimes hires staff to provide dining and spa services. 7 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary History of alternative accommodation and how it works 8 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary History of alternative accommodations 2008 1985 2017 1999 Airbnb is founded in San The Vacation Rental Francisco as a means to generate extra income. Managers Association Ideas around Airbnb launches Chinese brand TripAdvisor buys a majority (VRMA) is founded in “couchsurfing” are 2015 Aibiying with Airbnb’s co-founder 1953 share in FlipKey to stake its Monterey, California conceived by Casey Nathan Blecharczyk becoming claim on the vacation by seven property Fenton as he buys a HomeAway is acquired chairman of Airbnb China. Homeswaps are devised rental market. managers. cheap plane ticket from by Expedia for $3.9 by the Swiss and Dutch Boston to Iceland. 2011 billion, enhancing the Teacher Unions to allow 1995 two companies’ efforts for an economical way HomeAway files for an to compete with Airbnb. to travel and meet VRBO — Vacation IPO and becomes a locals in other countries. Rentals by Owner publicly traded company — is founded. 1953 – 1999 2000 - 2010 2011 - 2018 1995 2014 1954 eBay is founded, one of 2018 the first consumer-to- Amsterdam signs a Dutch insurance company buys Airbnb launches a host of consumer internet-based 2004 Memorandum of a vacation park with holiday 2016 new categories include platform, paving the Understanding with Airbnb, homes for its employees. CEH Holdings is boutique hotels and B&Bs way for other peer-to- with the city introducing a Airbnb sign a Memorandum of Around the same time, vacation founded, and renamed amongst others, with the peer platforms. 60-days-per-year limit on Understanding to promote the rentals start to appear in the to HomeAway, Inc. in company starting to allow renting properties. growth of short-term rentals, United States, with listings 2005. small hotels and and increase the amount of placed in newspapers and professionally run B&Bs to affordable accommodations in money exchanged for stays. offer their services on its the city. platform Skift, The Short-Term Rental Ecosystem and Vendor Deep Dive 2019 9 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary How it works Owner has a home If the owner enters a contractual agreement with a property they’d like to rent on a manager, that person or company is responsible for short- term basis everything as agreed upon by the owner. Usually in the They check their local area regulations following areas and decide how to manage their property, either on their own, or sign a contract with a property manager. Identify marketing Provide traveler support channels and manage reviews Manage rates, booking requests and update availability calendar Create a listing and/or Manage onsite website with photos and operations descriptions 10 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Alternative accommodation ecosystem and players 11 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Alternative accommodation ecosystem Supply Booking Optimization Post Booking Multifamily Multifamily STR Custom Software Activities Cleaning Asset Owner Custom Pricing Software & Direct API Integration Direct Bookings Hotel PMSC Alternative Hotel Luxury /Concierge Risk Mitigation Meta Integrated PM VR PMSC Enterprise Cleaning / Turnovers Second Home / Channel Manager Monitoring Investment Property Regional PM VR PMSC Small Biz Traditional OTA Pricing Full Time Cleaning Staff Primary Residence Co-Host STR Self Managed Platforms Self Cleaned Underlying Property PMSC (Property Distribution & Point Stay Turnovers Property Owner Manager Management software) Yield Management of Sale Experience (cleaning) 12 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Online travel agencies Many online travel agencies list vacation rentals An online travel agency (OTA) is a web-based marketplace that allows consumers to research and book travel products and services, including hotels, flights, cars, tours, cruises, activities and more, directly with travel suppliers. 13 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Owners, property managers and housekeeping services Owners Property managers Housekeeping services The person(s) who own the home A company or person who has a A professional service hired to clean that is being rented. contractual agreement with a vacation rental in between vacation rental homeowner(s) to guests. Sometimes property some or all responsibilities managers hire in-house associated with marketing, housekeeping staff. maintaining and cleaning a vacation rental. 14 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Software providers, channel managers and marketing services Software providers Channel managers Marketing services Companies who design and sell A service that distributes a vacation Companies who specialize in software, typically as a service, that rental listing to multiple OTAs, building websites for property makes it easier for property making it easier to update the managers to book guests directly. managers to do things like manage listing and manage reservations They also provide things like email calendars, set pricing and maintain from a single source. Channel and search engine marketing. proper accounting standards managers are often included in across hundreds or thousands of software suites. vacation rentals. 15 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Reasons for owning an alternative accommodation and analyzing performance People own and rent vacation homes for a variety of reasons, it’s not always about making money 16 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Why they rent? Breakdown of why alternative accommodation owners rent their properties 56% 28% 29% 15% Lifestyle listers Revenue maximizers Newcomers Multi-property Focused on covering Focused on growing New to renting Owns multiple rentals their costs their business Vrbo Partner Persona Research, 2017 17 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Calculating cash flow Before investing in an alternative accommodation, it is important to understand how to calculate your cashflow based on income and expenses Capital Net operating expenditure income Cash flow Mashvisor, Can a Vacation rental Property Pay for Itself?, 2019 18 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Manage your expenses Calculating your expenses appropriately will yield a positive ASK investment Real estate investors that fail to calculate expenses will quickly find themselves in a deficit, which makes is important to account for every expense. Some coming costs of operating an alternative accommodation include: • Repairs, cleaning, and year-round maintenance • Insurance and taxes • Accounting fees • Marketing and paid advertising • Appliances and supplies • Furniture • Vacancy periods Mashvisor, Can a Vacation rental Property Pay for Itself?, 2019 19 © 2020 Expedia, Inc, an Expedia Group Company. All rights reserved. Confidential and proprietary Incorporate real estate comps into your property analysis Evaluate comparable real estate to your alternative accommodation when planning to buy a property When running comparisons of comparable properties, you can better assess the profitability of the real estate market to better set your expectations and
Load more

Recommended publications
  • Testimony of Stephen Shur, President of the Travel Technology Association
    The Travel Technology Association Testimony of Stephen Shur, President of the Travel Technology Association My name is Stephen Shur, and I am the President of the Travel Technology Association. My organization represents companies like Expedia, Priceline, Orbitz, booking.com, TripAdvisor, AirBnB, HomeAway, VRBO and many others. Our industry is responsible for booking hundreds of thousands of room nights in Kansas annually. In the wake of the Supreme Court Wayfair decision, many states have begun the process of legislating tax collection for “remote sellers”. These marketplace facilitator provisions do not and should not apply to travel intermediaries. Marketplace facilitator legislation is aimed at collecting taxes from remote sellers in an environment where no taxes are being collected. In our world, accommodations bookings, ALL of the proper taxes are already being collected and remitted to the state. This applies to both hotel bookings as well as short term rental bookings as both AirBnB and HomeAway (including VRBO) have voluntary collection agreements with the state of Kansas. Should OTAs and short-term rental platforms be ensnared in marketplace legislation, it would disrupt the efficient and effective administration and flow of tax revenue from the traveler to the state. Again, Kansas is already getting all applicable taxes on all hotel bookings in the state and the overwhelming majority of short-term rental bookings. I’d like to talk briefly about how our industry works. I’ll start with hotel bookings. First, and most importantly, online travel agents don’t buy rooms in bulk at wholesale rates and resell them at retail rates. When a traveler books a hotel room via a travel agent, either online or in Kansas, the total amount the traveler pays includes: 1.
    [Show full text]
  • Homeaway's Reach Makes It a Necessary Evil for Owners, Managers
    REPORT David Franklin, [email protected], 215.493.4104 HomeAway’s Reach Makes It a Necessary Evil for Owners, Managers Companies: AWAY, EXPE, GOOG, KYAK, PCLN, TRIP February 14, 2013 Research Question: Will new bundle options and tiered pricing result in greater usage of HomeAway’s sites, or will the corresponding listing price hikes put off homeowners and property managers? Summary of Findings Silo Summaries 1) VACATION PROPERTY OWNERS HomeAway Inc.‟s (AWAY) new pricing and listing bundle programs Four of six sources were negative about HomeAway, but garnered negative reactions from 11 of 14 sources in the vacation none had plans to completely drop their HomeAway property owner and vacation property management silos. However, listings because of the company‟s lead position and few of these sources expect to abandon listing with HomeAway broad reach in the market. Concerns expressed given the company‟s lead position and market reach. included HomeAway‟s inclusion of unnecessary services, outdated technology and rising listing prices. Eight additional sources, comprising HomeAway‟s competitors, Competition is growing from Airbnb, FlipKey and even property management software representatives and an industry Google‟s AdWords. specialist, acknowledged the company‟s strength and dominance in the industry. They do not expect HomeAway‟s recent changes to 2) PROPERTY MANAGEMENT COMPANIES be a boon or a bane for the company. Seven of these eight sources had negative comments about HomeAway. They clearly recognized its powerful Eight of nine renter sources reported having positive rental position, and do not expect to end or reduce listings experiences through HomeAway and its VRBO subsidiary, and with the company.
    [Show full text]
  • Largest Property Owners/Managers Support AWAY's Pay-Per-Booking
    REPORT Reverdy Johnson, [email protected], 415.677.5801 Largest Property Owners/Managers Support AWAY’s Pay-Per-Booking Companies: AWAY, EXPE, PCLN, TRIP January 29, 2014 Research Question: Will HomeAway’s new pay-per-booking program deliver increased revenue and rental listings, or cannibalize its subscription-based business? Summary of Findings Silo Summaries . Thirteen of 23 sources, including professional property managers 1) Property owners & managers listing on AWAY & with more than 1,000 properties, said HomeAway Inc. (AWAY) will competitor sites Six of the eight largest property owners said PPB will increase revenue and listings through its pay-per-booking (PPB) bring HomeAway additional revenue and more rental feature. It will appeal to property owners/managers not previously listings. The feature will appeal to those not currently listed on HomeAway, and those for whom the subscription service using HomeAway, and likely is intended for use by was not financially viable. property managers more than individual property . owners/managers. Six sources expect PPB to Sources were divided as to whether PPB would cannibalize the cannibalize HomeAway’s subscription business, and subscription business by enticing subscribers to switch services. three suggested HomeAway eventually wants to . Three sources believe PPB ultimately will eliminate subscriptions, eliminate subscriptions altogether in order to compete with Booking.com and Expedia. Seven sources said the and is HomeAway’s attempt to move users to an online booking 10% commission charged per-booking is prohibitively system so it can compete with growing efforts from Priceline.com high for property owners, especially when competitors Inc.’s (PCLN) Booking.com and Expedia Inc.
    [Show full text]
  • 1 in the UNITED STATES DISTRICT COURT for the WESTERN DISTRICT of TEXAS WACO DIVISION EXPRESS MOBILE, INC. Plaintiff, V. EXPEDIA
    Case 6:20-cv-00801-ADA Document 1 Filed 09/01/20 Page 1 of 122 IN THE UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT OF TEXAS WACO DIVISION EXPRESS MOBILE, INC. ) Plaintiff, ) ) Civil Action No. 6:20-cv-00801 v. ) ) JURY TRIAL DEMANDED EXPEDIA GROUP, INC. ) ) Defendant. ) COMPLAINT Plaintiff Express Mobile, Inc. (“Express Mobile” or “Plaintiff”), by and through its undersigned counsel, brings this action for patent infringement against Defendant Expedia Group, Inc. (“Expedia” or “Defendant”) and alleges as follows: NATURE OF THE ACTION 1. This is a civil action arising under 35 U.S.C. § 271 for Expedia’s infringement of Express Mobile’s United States Patent Nos. 6,546,397 (“the ‘397 patent”), 7,594,168 (“the ‘168 patent”), 9,063,755 (“the ‘755 patent”), 9,471,287 (“the ‘287 patent”), and 9,928,044 (“the ‘044 patent”) (collectively the “Patents-In-Suit”). THE PARTIES 2. Plaintiff Express Mobile, Inc. is a Delaware corporation with a place of business at 38 Washington Street, Novato, CA 94947. 3. Upon information and belief, Defendant Expedia Group, Inc. is a Delaware corporation with physical locations in Austin, Houston, and Dallas, Texas from which it regularly conducts business related to this action. 1 Case 6:20-cv-00801-ADA Document 1 Filed 09/01/20 Page 2 of 122 4. Expedia is an online travel company providing business and leisure travelers with tools and services to research, plan, and book travel. Expedia conducts its business and provides its tools and services to consumers through a large portfolio of travel brands and businesses (collectively, the “Expedia Brands and Subsidiaries”).
    [Show full text]
  • In the Superior Court for the State of Washington in and for 7 the County of King
    1 2 3 4 5 6 IN THE SUPERIOR COURT FOR THE STATE OF WASHINGTON IN AND FOR 7 THE COUNTY OF KING 8 Cause No.: 9 DANIEL MAHONEY, an individual; JENNI R. STEPHENSON, an individual; and 10 COMPLAINT FOR UNFAIR TRADE JONATHAN MARKHAM, an individual, PRACTICES UNDER RCW 19.86.020 11 Plaintiffs, 12 v. 13 EXPEDIA, INC., a Washington Corporation; 14 Defendant. 15 16 I. COMPLAINT 17 Plaintiffs, Daniel Mahoney, Jenni R. Stephenson, and Jonathan Markham bring 18 this Action Complaint against Defendant Expedia, Inc. (“Expedia”), alleging as follows: 19 II. NATURE OF ACTION 20 1. This Complaint comes during a global pandemic arising from a novel 21 coronavirus, COVID-19. Nationwide lockdowns sent unemployment to historic levels, 22 and the economic and health effects imposed great hardship on millions of Americans. 23 National and worldwide travel restrictions were imposed to protect health and welfare 24 during this public health emergency. 25 2. The pandemic dramatically impacted travel, particularly air travel. The 26 ability to travel was eliminated for many Americans. COMPLAINT - 1 1 3. Airlines slashed flight schedules, resulting in thousands of flight 2 cancellations for millions of passengers. 3 4. Under U.S. law, airline passengers are entitled to a refund if the airline 4 cancels a flight, regardless of the reason the airline cancels the flight. 5 5. Some carriers honored this requirement, while others have not. 6 6. Some carriers offered only to rebook and/or provide travel vouchers to 7 passengers whose trips the airlines canceled. 8 7. Many of these carriers market and book their flights to consumers through 9 online travel agencies.
    [Show full text]
  • Steamfitters Local 449 Pension Plan V. Diller Et
    EFiled: Jul 29 2019 05:08PM EDT Transaction ID 63637764 Case No. 2019-0571-JTL IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE STEAMFITTERS LOCAL 449 PENSION PLAN, directly on behalf of itself and all other similarly situated stockholders of EXPEDIA GROUP INC. and derivatively on behalf of EXPEDIA GROUP INC., Plaintiff, C.A. No. 2019-0571-JTL v. BARRY DILLER, SUSAN ATHEY, A. Public Redaction Version GEORGE BATTLE, COURTNEE Filed July 29, 2019 CHUN, CHELSEA CLINTON, PAMELA COE, JONATHAN DOLGEN, ALEX VON FÜRSTENBERG, CRAIG JACOBSON, VICTOR KAUFMAN, PETER KERN, DARA KHOSROWSHAHI, MARK OKERSTROM, CHRISTOPHER SHEAN, and THE DILLER FOUNDATION D/B/A THE DILLER – VON FURSTENBERG FOUNDATION, Defendants, -and- EXPEDIA GROUP INC. Nominal Defendant. VERIFIED CLASS ACTION AND DERIVATIVE COMPLAINT Plaintiff Steamfitters Local 449 Pension Plan (“Plaintiff”), directly on behalf of itself and all other similarly situated holders of Expedia Group Inc. (“Expedia” or the “Company”) common stock and derivatively on behalf of the Company, brings the following Verified Class Action And Derivative Complaint (the “Complaint”) against the defendants named herein for breaches of fiduciary duty in their capacities as officers, directors, and/or controlling stockholders of Expedia and unjust enrichment. The allegations of the Complaint are based on the knowledge of Plaintiff as to itself, and on information and belief, including the investigation of counsel, the review of publicly available information, as to all other matters. NATURE OF THE ACTION 1. This entire fairness action arises out of Barry Diller’s latest attempt to pass his outsized voting influence over a publicly traded Delaware corporation to his unqualified stepson, Alexander von Furstenberg (“AVF”).
    [Show full text]
  • Expedia Inc and Homeaway Inc Conference Call to Discuss the Acquisition Transaction Call
    THOMSON REUTERS STREETEVENTS EDITED TRANSCRIPT EXPE - Expedia Inc and HomeAway Inc Conference Call to Discuss the Acquisition transaction Call EVENT DATE/TIME: NOVEMBER 04, 2015 / 9:45PM GMT OVERVIEW: EXPE announced that it has agreed to acquire HomeAway for an equity value of approx. $3.9b in cash and EXPE common stock. THOMSON REUTERS STREETEVENTS | www.streetevents.com | Contact Us ©2015 Thomson Reuters. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. NOVEMBER 04, 2015 / 9:45PM, EXPE - Expedia Inc and HomeAway Inc Conference Call to Discuss the Acquisition transaction Call CORPORATE PARTICIPANTS Alan Pickerill Expedia, Inc. - VP of IR Dara Khosrowshahi Expedia, Inc. - President & CEO Brian Sharples HomeAway - Founder & CEO Mark Okerstrom Expedia, Inc. - CFO & EVP of Operations CONFERENCE CALL PARTICIPANTS Eric Sheridan UBS - Analyst Kevin Kopelman Cowen and Company - Analyst Paul Bieber BofA Merrill Lynch - Analyst Rohit Kulkarni RBC Capital Markets - Analyst Lloyd Walmsley Deutsche Bank - Analyst Jed Kelly Oppenheimer & Co. - Analyst Mike Olson Piper Jaffray & Co. - Analyst Heath Terry Goldman Sachs - Analyst Justin Patterson Raymond James - Analyst Tom White Macquarie Research - Analyst Chris Merwin Barclays Capital - Analyst Nat Schindler BofA Merrill Lynch - Analyst Naved Khan Cantor Fitzgerald - Analyst Brian Fitzgerald Jefferies LLC - Analyst PRESENTATION Operator Good day and welcome to the Expedia announces acquisition of HomeAway conference. Today's conference is being recorded. At this time, I would like to turn the conference over to Alan Pickerill.
    [Show full text]
  • Expedia to Acquire Homeaway, Inc
    EXPEDIA TO ACQUIRE HOMEAWAY, INC. BELLEVUE, WA and AUSTIN, TX, November 4, 2015 – Expedia, Inc., (NASDAQ: EXPE) and HomeAway, Inc., (NASDAQ: AWAY) announced today that they have entered into a definitive agreement under which Expedia has agreed to acquire HomeAway, including all of its brands, for an equity value of approximately $3.9 billion in cash and Expedia common stock, representing a per share price for HomeAway shares of $38.31, based on Expedia’s closing price on November 3, 2015. Under the terms of the transaction, Expedia will offer to acquire each outstanding share of common stock of HomeAway in exchange for $10.15 in cash and 0.2065 of a share of Expedia common stock. The Boards of Directors of both companies unanimously approved the transaction, which remains subject to customary closing conditions, including regulatory approvals and the tender of a majority of the outstanding shares of HomeAway common stock. The companies expect the transaction to close in the first quarter of 2016. “We have long had our eyes on the fast growing ~$100 billion alternative accommodations space and have been building on our partnership with HomeAway, a global leader in vacation rentals, for two years. Bringing HomeAway into the Expedia, Inc. family and adding its leading brands to our portfolio of the most trusted brands in travel is a logical next step,” said Dara Khosrowshahi, Chief Executive Officer, Expedia, Inc. “We have tremendous respect for the HomeAway team and the business they have built. With our expertise in powering global transactional
    [Show full text]
  • Homeaway to Be Part of Expedia's Buying Spree – a $3.9Bn Deal
    Find our latest analyses and trade ideas on bsic.it HomeAway to be Part of Expedia's Buying Spree – A $3.9bn Deal Expedia; Market Cap: $16.6bn (as of 12/11/2015) HomeAway; Market Cap: $3.5bn (as of 12/11/2015) Introduction On November 4, Expedia, after a two-year partnership with HomeAway, announced the acquisition of the latter company for a $3.9bn cash and stocks consideration. With this acquisition Expedia will widen its portfolio of brands while, at the same time, entering new businesses. Moreover, Expedia will be able to boost traffic to its lodging listings. HomeAway will benefit from distribution, technology and expertise coming from Expedia itself. The Boards of Directors of both companies unanimously approved the transaction, which represents the largest and most recent acquisition in Expedia's history. The deal remains subject to regulatory approvals and is expected to close in the first quarter of 2016. Industry Overview The online travel industry is growing faster than ever with an overall 27% increase of website views YoY. The trend is the same for revenues which increased 11% from the previous year to $35.1bn overall. Major online travel agencies are Expedia, Priceline, Orbitz and Kayak. The competition is now focusing on mobile services opportunities since bookings made via smartphones are constantly growing, highlighting a users’ shift from desktop to mobile. About Expedia Expedia, headquartered in Bellevue, Washington (US), is one of the world’s leading online travel companies. Since its foundation in 1996 in a small division within Microsoft (spun-off in 1999), it has been providing customers with a revolutionary way to search and book hotels.
    [Show full text]
  • Tripadvisor 2018 2 Fish Where the Fish Are!
    TripAdvisor 2018 2 Fish where the Fish Are! Source: https://www.statista.com/statistics/499694/forecast-of-online-travel-sales-worldwide 3 https://skift.com/2017/06/21/mobile-travel-bookings-to-reach-40-percent-of-online-sales-in-2017/ Worldwide Findings Summary of size and reach #1 Largest Visit Process Purchase Engagement TripAdvisor is the largest An estimated 1 in every 80% of buyers who visit TripAdvisor reached Travel transactors who travel property worldwide 11 users worldwide TripAdvisor during the 60% of all worldwide use TripAdvisor engage with visited TripAdvisor in July purchase process users examined who with more sites. Their 2017 worldwide take longer started their decision path to purchase than 4 weeks to process and research is 29% longer complete their subsequently booked than non TripAdvisor purchase travel online in Q2 & Q3 users 2017 Source: comScore Data Services 5 TripAdvisor – World’s Largest Travel Site 455M 49 570M 7.3M average unique Markets Reviews and Accommodations, monthly visitors ** Worldwide Opinions Restaurants and Attractions *Source: TripAdvisor log files, average monthly unique visitors, Q3 2017 6 **Source: comScore Media Metrix for TripAdvisor Sites, worldwide, July 2017 About TripAdvisor TripAdvisor is the world’s largest travel site* 270+ 147,000 137M 780,000 New contributions per minute Destinations Marketable Members Vacation Rentals *Source: TripAdvisor log files, average monthly unique visitors, Q3 2017 **Source: comScore Media Metrix for TripAdvisor Sites, worldwide, July 2017 7 TripAdvisor: Worldwide TripAdvisor is the world’s largest travel site TripAdvisor Media Group TripAdvisor Sites Ctrip International Booking.com Expedia Airbnb Trivago Sites Hotels.com Sites UU456.COM Qunar 12306.CN Skyscanner MSN Travel Mafengwo Agoda LVMAMA.COM Kayak.com EDreams Odigeo HomeAway Indian Railways Southwest Airlines Co.
    [Show full text]
  • 1 in the United States District Court for The
    IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE INTERNATIONAL BUSINESS MACHINES ) CORPORATION, ) ) Plaintiff, ) ) Civil Action No. 17-1875-LPS-CJB v. ) ) JURY TRIAL DEMANDED EXPEDIA, INC., EXPEDIA, INC., ) HOMEAWAY.COM, INC., ) HOTELS.COM L.P., ) HOTWIRE, INC., ) ORBITZ WORLDWIDE, INC., ) ORBITZ, LLC, AND ) TRAVELSCAPE LLC ) ) Defendants. ) AMENDED COMPLAINT FOR PATENT INFRINGEMENT Plaintiff International Business Machines Corporation (“IBM”), for its Complaint for Patent Infringement against Expedia, Inc., Expedia, Inc., Homeaway.com, Inc., Hotels.com L.P., Hotwire, Inc., Orbitz Worldwide, Inc., Orbitz, LLC, and Travelscape LLC (collectively “Defendants”), alleges as follows: INTRODUCTION 1. IBM is a world leader in technology and innovation. IBM spends billions of dollars each year on research and development, and those efforts have resulted in the issuance of more than 60,000 patents worldwide. Patents enjoy the same fundamental protections as real property. IBM, like any property owner, is entitled to insist that others respect its property and to demand payment from those who take it for their own use. Defendants have built their business model on the use of IBM’s patents. Moreover, despite IBM’s repeated attempts to negotiate, Defendants refuse to negotiate a license. This lawsuit seeks to stop Defendants from continuing to use IBM’s intellectual property without authorization. 1 RLF1 19639879v.1 NATURE OF THE CASE 2. This action arises under 35 U.S.C. § 271 for Defendants’ infringement of IBM’s United States Patent Nos. 5,796,967 (the “’967 patent”), 5,961,601 (the “’601 patent”), 6,374,359 (the “’359 patent”), 7,072,849 (the “’849 patent”), and 7,631,346 (the “’346 patent”) (collectively the “Patents-In-Suit”).
    [Show full text]
  • Future of Travel Booking by Dennis Schaal
    Future of Travel Booking By Dennis Schaal Interviews with CEOs Skift Books of the world’s top online booking companies 2014 THE FUTURE OF ONLINE TRAVEL BOOKING By DENNIS SCHAAL AND SKIFT Published in 2014 by SKIFT 115 W. 30th St. Suite 1213 New York, NY 10001 USA On the web: skift.com Please send feedback to [email protected] Publisher: Skift Editor: Jason Clampet Production Manager: Matt Heidkamp Copyright © 2014 Skift All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Table of Contents 04 Introduction 05 About Skift 06 Interviews 07 Darren Huston, Priceline 17 Steve Hafner, Kayak 23 João Ricardo Mendes, Hotel Urbano 29 Greg Marsh, One Fine Stay 35 Roberto Souviron, Despegar 41 Javier Pérez-Tenessa, eDreams Odigeo 47 Brian Sharples, HomeAway 53 Marina Kolesnik, Travel.ru 61 Adam Goldstein, Hipmunk 67 Chenchao “CC” Zhuang, Qunar 71 Gareth Williams, Skyscanner 75 Deep Kalra, MakeMyTrip 81 Dara Khosrowshahi, Expedia 87 Stephen Kaufer, TripAdvisor 93 Sam Jain, CheapOAir 99 Steve Singh, Concur 105 Barney Harford, Orbitz 109 Thank You Introduction The forces shaping travel booking are swirling intends to preference displays on its sites to force as much as they ever have since the first online sometimes-reluctant vacation-rental owners to booking engines arrived on the scene in the mid- make their properties online bookable. 1990s. Advances in mobile apps, the mobile Web, metasearch, digital marketing, user-generated Read closely as Expedia Inc.
    [Show full text]