Expedia Emerges as Top Online Booking Agency
Thursday, August 6th, 2009
Expedia, Incorporated experienced a surge in stock value on July 30, 2009 beyond analyst estimates. The company reports that although overall sales in travel have fallen since 2008, many consumers are choosing to make their reservations through Expedia.com rather than competitor sites such as Travelocity.com, Hotels.com and other online booking sites. The company is the largest U.S. online travel agency and reports that airfare bookings declined by almost 20 percent in the first quarter. However, domestic travel bookings have been better than expected this year, and many consumers are taking advantage of Expedia's no booking fees and other incentives to secure the lowest available rates.
Current travel industry trends indicate that many people are choosing domestic travel over international travel because of the rough economy, and some are sticking with the 'staycation' where they book a vacation at a hotel or resort in their own town. Even a 'staycation' can lead them to an online booking site because in many cases, these sites offer lower than average rates and special packages for booking a hotel for several consecutive nights. Even when hotels offer local-resident rates that are lower than published rates on online travel sites, the online travel agency can compete with free upgrades and discounts on future bookings.
Expedia's top competitors, according to Hoovers.com, are Orbitz Worldwide, Travelocity and Priceline.com. Each of these online travel sites offer various benefits and advantages, but Expedia continues to stand out as a leading brand in the consumer market with its frequent TV advertising segments and heavy advertising online. The booking site also offers the Expedia ElitePlus booking program where travelers have access to exclusive offers, are connected to an Elite Plus travel specialist for 24/7 customer service, and never have to pay for any change or cancellation fees. Elite Plus members are also offered a price match guarantee on hotel bookings up to the night before travel.