Expedia Group has announced that it is committing $275 million to help partners rebound from the impact of COVID-19 and fuel industry-wide recovery efforts.
Its recovery program is comprised of global initiatives to support industry recovery and property-level relief designed to help independent partners and small chains rebuild their business, attract high-value guests, and optimize cash flow.
The initiative includes the following:
- Expedia Group is committing $250 million in marketing credits and financial relief. For each property that participates in the program, the company will reinvest 25% of the compensation earned in 2019 from the property into marketing credits for use with Expedia Group.
- To better understand when demand will return to a market, Expedia Group is providing proprietary data to track trends through a new analytics tool called Market Insights. The dynamic dashboard provides trends on website traffic, stay dates, and demand source markets.
- To support chains and owner groups, Expedia Group released a streamlined version of its optimized distribution solution that allows lodging suppliers to more effectively manage the distribution of wholesale rates among third party travel providers.
- To re-ignite demand through market awareness, Expedia Group Media Solutions is opening a $25 million fund for destinations. This recovery plan focuses on destination-led and co-op campaigns, which bring together destination and supply partners with similar audiences to manage their advertising spend while maximizing their conversions.
- To keep travel top of mind, Expedia Group is rolling out a series of global brand campaigns. For example, an online campaign from Media Solutions called Where Next? helps customers discover new destinations.
For the Industry
- To help furloughed and displaced workers advance during this time, Expedia Group has created a complimentary training and education program called Expedia Group Academy. The program offers skill development through online learning modules and live content led by Expedia Group subject matter experts and travel industry leaders.
- To ensure customers can book with confidence, Expedia Group created a new feature for lodging partners to highlight the health and hygiene measures at their properties.
- To meet the needs of cautious customers and ensure booking flexibility, nearly 70% of lodging rate plans on Expedia Group sites are now refundable.