Expedia CEO Sheds Light on Egencia's Expansion Plan
It's been more than a decade since Expedia launched its corporate travel agency, now known as Egencia, but the world's fifth-largest travel management company isn't content to settle for its current share of the market based on recent comments made by Expedia CEO Dara Khosrowshahi.
"We'll always be opportunistic from an acquisition standpoint," said Dara Khosrowshahi during the company's first quarter earnings call.
"We definitely want to get bigger in the corporate travel segment, and we're doing so organically with Egencia," he added. "But we'll continue to look for acquisitions in that segment. We think it's a terrific segment, and we have a great team and a great technology."
For the first quarter of 2015, Egencia, a full-service travel agency, reported a four percent year-over-year increase in gross bookings and an impressive 19 percent rise in EBITDA (earnings before interest, taxes, depreciation and amortization), reaching $20 million.
Recent acquisitions include Travelforce, Traveldoo and VIA Travel. But based on Khosrowshahi's comments, it's unlikely they'll be the last.
Egencia currently trails only American Express Global Business Travel, Carlson Wagonlit, BCD Travel and HRG North America in terms of market share, and is now competing with Booking.com's latest corportate travel venture, Booking.com for Business.
However, for the time being, Booking.com for Business is limited as a hotel-only program.
For more Business Travel News
More by Patrick Clarke
Get Travel Deals and Travel News
Recent Travel Opinions
Cruise Line & Cruise Ship
Airlines & Airports