Expedia Sees Healthy Growth In a Challenging Environment; Uncertainty Rating to High From Very High
In the face of weaker growth that’s recently been reported by some of the major hotel operators, Expedia chalked up solid results, which we believe speaks to its network advantage (the source of its narrow moat). Aided by this network and its Trivago brand, Expedia’s revenue grew 34% during the first three quarters, tracking slightly ahead of our 2016 forecast of 31%. Additionally, EBITDA grew 43% through the first nine months of the year--directly in line with our 43% growth estimate. Therefore...Expedia Group is an online travel company. The company's portfolio of brands includes: Expedia.com?, an online travel brand; Hotels.com?, a global lodging company operating websites with its Hotels.com? Rewards loyalty program; Vrbo?, a global online marketplace with a focus on providing lodging options for families; Egencia?, a corporate travel management company; Hotwire?, an online travel website providing spontaneous travel through its Hot Rate? deals; trivago?, an online hotel metasearch platform; and SilverRail Technologies, Inc., provider of a global rail retail and distribution platform connecting rail carriers and suppliers to both online and offline travel distributors.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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