EXPE - Embedded Expectations Analysis - 2018 09 12
Expedia, Inc. (EXPE:USA) currently trades at historical lows relative to UAFRS-based (Uniform) Earnings, with a 3.4x Uniform P/E. At these levels, the market has bearish expectations for the firm, but management is confident in property density and repeat rates, search channels, and pricingSpecifically, management is confident that their increased investment in inventory leads to better property density, and thus higher repeat rates. Additionally, they are confident in their ability to decrease the amount of time it takes for an added property to be loaded into their metasearch and search engine marketing channels. They are also confident in their cloud platform investments, and that their pricing rates will not be pressured by commission rates
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.
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