Expedia CEO: Global land grab "almost completed", time for more local relevance
The three key priorities for Expedia in 2018 are to shift growth strategy, to be more customer-centric, and to speed the pace of innovation within the company.
According to Expedia Inc. CEO Mark Okerstrom argues that the effort that has consumed his company over the last nearly two decades — opening offices and operating points of sale in an-ever-increasing number of global locations — is just about finished.
After all, Expedia Inc. companies, including Expedia.com, Hotels.com and HomeAway, for example, offered 350,000 hotels and more than 1.2 million vacation rentals that can be booked online in 200 countries as of the end of 2016.
Expedia’s altered growth strategy — going deep locally rather than going wider and launching operations in new countries — is one of three key priorities for Expedia in 2018, Okerstrom said. The other two are becoming more customer-centric, and speeding the pace of innovation within the company.
Okerstrom described Expedia and online travel as ripe for robust growth. He cited travelers in some destinations “leapfrogging” technology — transitioning from offline travel bookings, skipping the desktop, and getting everything they need on their mobile phones — as an encouraging sign.
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