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Expedia's Changes: What You Missed

Skift sent this email to their subscribers on February 12, 2024.

The Daily
February 12, 2024
By Rashaad Jorden

Good morning, readers. Ariane Gorin will succeed Peter Kern as Expedia Group CEO this May in a surprise move announced last week. Gorin has extensive experience at the company, having shepherded substantial growth in Expedia for Business, which accounted for 26% of Expedia Group's revenue in 2023. She’s assuming the role as Expedia looks substantially different now than it did when Kern took over in 2020. Read about some of those changes below.

On the itinerary today: 

  • Expedia’s shakeup under Peter Kern
  • Marriott Media Network experiences slow rollout
  • Soho House ponders going private

Skift is Going to Delhi

CEOs from OYO, Air India, Ennismore, MakeMyTrip and more will be speaking at the inaugural Skift India Summit in Delhi on March 19-20. Reserve your seat and be part of this transformative event.

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Today's Calendar

News
  • 2024 International Inbound Travel Association Summit in Memphis, Tennessee

Hotels

News

Expedia’s Shakeups Under Peter Kern

Peter Kern at Skift Global Forum

Expedia Group announced last Thursday that Peter Kern would step down as CEO this May.

Executive Editor Dennis Schaal looks at the makeover Expedia has undergone since Kern assumed the role in 2020:

  • Kern said that Expedia currently has 30% fewer employees than it did in 2019, and has closed 100 offices. He added that 30% of employees worked in product and tech in 2019. That figure is 50% now.
  • Expedia Group had more than 20 brands in 2019 with many competing against one another and working at cross purposes. Kern said the company invests nowadays in three or fewer brands in any given region.
  • Expedia Group revamped its loyalty program as One Key. Prior to that, Kern said there were seven different loyalty stacks. Under One Key, travelers can earn points on one brand and spend them on another. 

Read the Story at Skift

Industry Insights

4 Questions With Cvent

As meeting venues contend with rising costs, supply-chain issues, labor shortages, and other challenges, they should not lose sight of opportunities to increase efficiency through automated solutions and win more business by marketing efforts toward diversity, accessibility, and sustainability.

Read the Full Story

Sponsored by CVENT

Hotels

News

Marriott Media Network Experiences Slow Rollout

Moxy Manchester City lobby

Marriott launched the Marriott Media Network in part to attract ads from non-hotel marketers on the company’s website and app, among other platforms. But the network’s rollout hasn’t gone exactly as planned.

Senior Hospitality Editor Sean O’Neill delves into what’s happening with the network:

  • Marriott launched with Yahoo as its partner on the technology side. But a year ago, Yahoo abruptly shut down its so-called server-side provider business for all clients. Marriott is currently transitioning to Google as its media network partner.
  • An ad exec familiar with Marriott’s effort said that those types of media networks are tricky to create.
  • O’Neill notes he hasn’t seen ads for anything other than Marriott itself and its Home and Villas product during stays at several Marriott properties across three continents in the past year.

    Read the Story on Skift

    Hotels

    News

    Soho House Ponders Going Private

    A Soho House property

    Amid its inability to turn a profit since going public in 2021, the Soho House chain of membership clubs said it’s exploring the possibility of becoming a private company. 

    Senior Hospitality Editor O’Neill explains Soho House’s struggles:

    • A recently published report by a short-seller argued that Soho didn’t have a plausible plan to reduce its debt and become reliably profitable.
    • The report said Soho House is “a company with a broken business model and terrible accounting” whose “persistent lack of profits and rising debt levels” puts it in a “precarious position where they will need to continue to dump shares on investors as time goes on.”
    • It added Soho House is “a company with a broken business model and terrible accounting” whose “persistent lack of profits and rising debt levels” puts it in a “precarious position where they will need to continue to dump shares on investors as time goes on.”

      Read the Story on Skift

      Skift Travel 200: Top Movers

      Stock
      ST200DOWN

      Skift Travel 200

      1014.4

      -1%

      MSDOWN

      Booking Holdings

      3,758.18

      -2.14%

      MSDOWN

      Airbnb

      147.60

      -1.96%

      MSDOWN

      Marriott International

      1.03

      -1.03%

      Source: The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. Go to the Skift Travel 200. Stock data as of market close.

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      Skift The Daily February 12, 2024 By Rashaad Jorden Good morning, readers. Ariane Gorin will succeed Peter Kern as Expedia Group CEO this May in a surprise move announced last week. Gorin has extensive experience at the company, having shepherded substantial growth in Expedia for Business, which accounted for 26% of Expedia Group's revenue in 2023. She’s assuming the role as Expedia looks substantially different now than it did when Kern took over in 2020. Read about some of those changes below. On the itinerary today:  * Expedia’s shakeup under Peter Kern * Marriott Media Network experiences slow rollout * Soho House ponders going private SKIFT IS GOING TO DELHI CEOs from OYO, Air India, Ennismore, MakeMyTrip and more will be speaking at the inaugural Skift India Summit in Delhi on March 19-20. Reserve your seat and be part of this transformative event. Register Now TODAY'S CALENDAR News * 2024 International Inbound Travel Association Summit in Memphis, Tennessee HOTELS News EXPEDIA’S SHAKEUPS UNDER PETER KERN Peter Kern at Skift Global Forum Expedia Group announced last Thursday that Peter Kern would step down as CEO this May. Executive Editor Dennis Schaal looks at the makeover Expedia has undergone since Kern assumed the role in 2020: * Kern said that Expedia currently has 30% fewer employees than it did in 2019, and has closed 100 offices. He added that 30% of employees worked in product and tech in 2019. That figure is 50% now. * Expedia Group had more than 20 brands in 2019 with many competing against one another and working at cross purposes. Kern said the company invests nowadays in three or fewer brands in any given region. * Expedia Group revamped its loyalty program as One Key. Prior to that, Kern said there were seven different loyalty stacks. Under One Key, travelers can earn points on one brand and spend them on another.  Read the Story at Skift INDUSTRY INSIGHTS 4 QUESTIONS WITH CVENT As meeting venues contend with rising costs, supply-chain issues, labor shortages, and other challenges, they should not lose sight of opportunities to increase efficiency through automated solutions and win more business by marketing efforts toward diversity, accessibility, and sustainability. Read the Full Story Sponsored by CVENT HOTELS News MARRIOTT MEDIA NETWORK EXPERIENCES SLOW ROLLOUT Moxy Manchester City lobby Marriott launched the Marriott Media Network in part to attract ads from non-hotel marketers on the company’s website and app, among other platforms. But the network’s rollout hasn’t gone exactly as planned. Senior Hospitality Editor Sean O’Neill delves into what’s happening with the network: * Marriott launched with Yahoo as its partner on the technology side. But a year ago, Yahoo abruptly shut down its so-called server-side provider business for all clients. Marriott is currently transitioning to Google as its media network partner. * An ad exec familiar with Marriott’s effort said that those types of media networks are tricky to create. * O’Neill notes he hasn’t seen ads for anything other than Marriott itself and its Home and Villas product during stays at several Marriott properties across three continents in the past year. Read the Story on Skift HOTELS News SOHO HOUSE PONDERS GOING PRIVATE A Soho House property Amid its inability to turn a profit since going public in 2021, the Soho House chain of membership clubs said it’s exploring the possibility of becoming a private company.  Senior Hospitality Editor O’Neill explains Soho House’s struggles: * A recently published report by a short-seller argued that Soho didn’t have a plausible plan to reduce its debt and become reliably profitable. * The report said Soho House is “a company with a broken business model and terrible accounting” whose “persistent lack of profits and rising debt levels” puts it in a “precarious position where they will need to continue to dump shares on investors as time goes on.” * It added Soho House is “a company with a broken business model and terrible accounting” whose “persistent lack of profits and rising debt levels” puts it in a “precarious position where they will need to continue to dump shares on investors as time goes on.” Read the Story on Skift MORE FROM SKIFT * Electric Plane, Corporate Retreats, AI Trip Planner: Startup Funding Roundup * * Super Bowl Flights: Airlines Gear Up to Fly Thousands to the Big Game * Ask Skift: Do Sporting Events Boost Tourism? SKIFT TRAVEL 200: TOP MOVERS Stock ST200DOWN Skift Travel 200 1014.4 -1% MSDOWN Booking Holdings 3,758.18 -2.14% MSDOWN Airbnb 147.60 -1.96% MSDOWN Marriott International 1.03 -1.03% Source: The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. Go to the Skift Travel 200. Stock data as of market close. DON'T MISS OUT We love feedback here at The Skift Daily. If you’ve got thoughts, we want to hear from you. Drop us a line at [email protected] Did someone forward this newsletter to you? Click here to cut out the middle person. Skift Logo Defining the future of travel. Follow us: LinkedIn  |   Twitter  |   Facebook 35 W 31st St.,  New York,  NY,  10001,  USA You received this because you are subscribed to Skift Daily Newsletter from Skift. For Gmail users: If you are using the tabbed inbox, Skift emails may be pushed to the 'Promotions' tab. To get updates from Skift direct to your primary inbox, drag and drop this email to that tab.
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