Expedia is a well-known travel website that caters to consumers, but it also provides a growing number of products behind the scenes.
During the business’s quarterly results call on Thursday (Aug. 3), Expedia Group Vice Chairman and CEO Peter Kern noted that the company is enjoying “tremendous momentum” in its B2B sector.
Revenue in the business segment climbed 32% year on year in the second quarter.
Kern said on the call that the same technology, supply, and services that enable our own brands also power our B2B business. And, as we’ve made success in these areas over the last few years, our B2B company has expanded faster.
Expedia made the statements during an earnings conference, revealing a slowing in bookings growth. Despite a slowing from previous quarters, total gross bookings climbed by 5% in the second quarter. For example, in the first quarter, reservations grew by 20%.
Expedia collaborated with Mastercard in the second quarter, resulting in a major success for its B2B segment.
Expedia collaborated with Mastercard in the second quarter, resulting in a major success for its B2B segment. The travel website’s technology will enable the global system of issuers for the payments network “so that their customers can spend their loyalty points on great travel experiences,” Kern added.
Mastercard announced this agreement on May 9th, claiming that its new Travel with Rewards program will allow cardholders to utilize their points to book travel and experience “their next adventure.”
According to Kern, in another B2B project, the company collaborated with Walmart to leverage Expedia’s white-label template service to allow the retailer’s travel benefit for Walmart+ consumers.