Following a strong quarter for Expedia Group's B2B segment, where it achieved 55% revenue growth compared to 2022, the company announced new partnerships and technology features aimed at expanding its already extensive partner network. Expedia Group's White Label Template and API solutions power travel for more than 400 million loyalty program members from some of the world's largest financial, airline and hotel companies. The announcements came as hundreds of major players in the world of travel gathered for Expedia Group's EXPLORE 23: Connect conference being held for the first time at its Seattle campus.
“Our growth in B2B is due in large part to the speed with which our technology has been adopted by companies of all sizes looking to enter the market or expand their existing travel offerings. Demand for this business remains strong, as evidenced by our new partnerships with Mastercard, SoFi and some of our largest hotel partners,” said Peter Kern, Expedia Group Vice President and CEO. “The work we have done in building a vast B2B network that provides travel to millions of people around the world through leading names in banking, travel and more will continue to grow as we continue to establish our technology as the operating system. for the travel industry.
Expedia Group's new and expanded alliances include:
Mastercard: “Travel with rewards”
Expedia Group's template technology and Mastercard's digital redemption capability will now power a comprehensive loyalty points redemption program for participating issuers that will allow cardholders to exchange their credit card rewards points for bookings travel. Cardholders will access Expedia's high-quality global offering, which includes more than 700,000 properties, 500 airlines, more than 100 car rental companies and thousands of activities around the world.
SoFi: “SoFi Travel”
Expedia Group's template technology now powers SoFi Travel, enabling SoFi members to book flights, hotels, cars, packages, activities and vacation rentals through the financial services company. In addition to quality delivery and customer service, the collaboration allows SoFi to take advantage of Expedia Group's wealth of data and technology, as well as take advantage of new features and functionality updates that are automatically integrated.
“Over the last decade, our B2B segment has grown phenomenally as we power travel programs online and offline. We combine the technology assets that power our own travel brands, with our deep B2B experience, backed by the strength of our artificial intelligence and machine learning, to make our solutions smarter every day. We enable companies of all sizes to succeed in the world of travel, and in an industry that is nearly $2 trillion, there is plenty of room for growth,” added Ariane Gorin, President, Expedia for Business, Expedia Group.