|Bid||121.20 x N/A|
|Ask||122.58 x N/A|
|Day's range||120.96 - 120.96|
|52-week range||95.17 - 126.52|
|Beta (3Y monthly)||0.66|
|PE ratio (TTM)||29.79|
|Forward dividend & yield||1.23 (1.04%)|
|1y target est||N/A|
(Bloomberg) -- Online travel booking site Nustay A/S has filed a complaint to the European Union’s antitrust regulator, claiming Expedia Group Inc. and Booking Holdings Inc. are trying to “kill off” the startup for offering lower prices and punishing hotels that appear on its site.The Danish company said the online travel giants were in breach of competition rules by trying to maintain “artificially high price levels” for hotel rooms -- thereby potentially trying to keep their commissions high -- by preventing Nustay from offering lower prices.Founded in 2014, Nustay advertises rooms booked at a block rate, as well as direct on-demand booking, in a bid to provide customers cheaper offers than often appear on rival sites. The Danish website also charges low commissions, resulting in better prices for customers but the same earnings for hotels, it says.Nustay said Expedia and Booking.com downgraded hotels in their search rankings if a hotel’s prices were lower on a competing website, harming the hotels’ ability to land bookings. Hotels, in turn, are pressuring Nustay to raise prices so they wouldn’t lose more business on Booking and Expedia, it added.The European Commission said it had received Nustay’s complaint and was assessing it. Booking and Expedia didn’t respond to requests for comment.“We really have the possibility to give a better product to the consumers at a lower price, but we are seeing a tremendous effort from Expedia and Booking.com to kill us before we even get a chance to get a foothold, “ Nustay Chief Executive Officer Mathias Lundoe Nielsen said in an interview, adding they decided to file the complaint to try to get fair terms and “show how big of a problem it actually is.”The company said its visibility online increased rapidly last fall when Alphabet Inc.’s Google started including Nustay’s cheaper offers in its hotel search, alongside Booking and Expedia’s offerings.That development also triggered complaints from more than a thousand hotels, who urged Nustay to increase their prices, after being pressured by Expedia and Booking, Lundoe Nielsen said. Some of the hotels complained they were losing so much business from Booking or Expedia, and because Nustay doesn’t represent a large part of its business, they just wanted Nustay to increase the price to appease the online travel giants, he said.In one email exchange between a European hotel and Nustay and seen by Bloomberg, the owner said “we have been contacted by both of our partners Expedia and Booking.com, they both have asked us to contact the ones that are not in line with the prices we communicate.”Another hotel says “I am being penalized by Booking.com and Expedia because you are selling bedrooms at my properties cheaper than they are able to,” according to another email exchange.Expedia also directly urged Nustay to raise their prices in Google search, before it terminated a partnership about three months ago with the company as part of which it sold it some inventory, Lundoe Nielsen said.A Europe-wide antitrust crackdown in recent years saw Booking roll back some clauses obliging hotels to offer their best price to the site. European competition agencies flagged concerns about online bookings in a 2017 report. It said large hotel chains expected the biggest online travel sites to keep on growing, meaning any new rivals to them would face “significant difficulties.”Booking and Expedia have, in turn, urged the EU to probe how Google shows their sites in local and travel search results. Margrethe Vestager, the EU’s antitrust chief, has said she’s looking at Google’s local search.Online hotel booking sites are also being reviewed by Japanese authorities In the U.S., Expedia is under investigation in Utah for allegedly conspiring with the biggest U.S. hotel chains to manipulate search advertising on Google.(Updates with European Commission comment in fifth paragraph.)\--With assistance from Aoife White.To contact the reporter on this story: Natalia Drozdiak in Brussels at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com;Peter Chapman at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
So why would Amazon choose to reenter the travel industry through a seemingly loss-generating proposition, hawking already low-margin airline tickets via a Cleartrip partnership in the domestic Indian market? It sounds crazy, but Skift Research believes that airline tickets are a sensible entry point for a new Amazon foray into travel. Flights is a fairly […]The post Skift Analysis: Amazon's Travel Strategy Comes Into Focus appeared first on Skift.
Expedia and major hotel companies were already facing two federal lawsuits alleging that they conspired to stifle competition. Now they're also being investigated by Utah's attorney general.
Aiming to change that, Google will launch a more unified travel product to integrate flight and hotel search functions, while organizing people’s travel plans and saving research. Alphabet Inc.’s Google also plans to “surface” more travel data on Google Maps, and incorporate hotel and restaurant reservations for customers who are logged on. Google made the announcement Tuesday at a marketing conference in San Francisco.
A group of U.S. state attorneys general are investigating Expedia Group and hotel chains like Hyatt Hotels Corp and Marriott International Inc for alleged violations of antitrust law in online travel booking, according to a court filing. The filing in a state court in Utah relates to a dispute originally filed in Texas in which Travelpass accused the hotel chains last year of agreeing with each other, and with online travel groups like Expedia, to not advertise to consumers who searched for another company's hotel.
The office is investigating whether Expedia conspired with Marriott International Inc., Hilton Worldwide Holdings Inc. and other hotel companies to manipulate search advertising on Google, according to papers filed in state court in Utah last week. The allegations were raised in a lawsuit filed in December by TravelPass Group LLC, a Utah-based company that sells hotel room inventory through Google search ads.
Expedia Reported Mixed Q1 Earnings(Continued from Prior Part)Bullish recommendationsAnalysts’ rating on Expedia (EXPE) suggests that the stock could be an intriguing choice for investors. Analysts’ average target price on the stock reflects a
Expedia Reported Mixed Q1 Earnings(Continued from Prior Part)Higher revenuesExpedia’s (EXPE) first-quarter revenues increased 4% YoY (year-over-year) to $2.61 billion due to decent travel demand in the US market. The revenues also benefited from
Expedia Reported Mixed Q1 Earnings(Continued from Prior Part)Room night growthThe lodging business unit is still a major revenue growth driver for Expedia (EXPE). Accounting for 66% of the total revenues, the segment reported 7% YoY
Expedia Reported Mixed Q1 EarningsMixed resultsExpedia (EXPE) reported mixed first-quarter results after the markets closed on May 2. The company’s bottom line was better than analysts’ estimate, while the top line fell short of analysts’
Wall Street was looking for $2.69 billion, according to data compiled by Bloomberg. Revenue growth from Vrbo slowed to 14 percent. Bellevue, Washington-based Expedia has been struggling to chase rivals Airbnb Inc. and Booking Holdings Inc. in the fast-growing and lucrative market for short-term rentals with its HomeAway and Vrbo services.
The Bellevue, Washington-based company said it had a loss of 69 cents per share. Losses, adjusted for one-time gains and costs, came to 27 cents per share. The results surpassed Wall Street expectations. ...
Jul.08 -- Uber CEO Dara Khosrowshahi talks about how Barry Diller helped him move from Expedia to Uber. He appears on "The David Rubenstein Show: Peer-to-Peer Conversations." The interview was recorded on June 11 at The Economic Club in Washington.