Expedia Becomes First OTA to Sell Allegiant Flights in Exclusive Deal
EXPE sits 53% above its 52-week low of $174.05.
Summary
Expedia Group signed a 12-month exclusive agreement to distribute Allegiant Travel's flights across all its U.S. brands, becoming the first online travel agency to do so. The deal adds 566 routes across 124 domestic cities to Expedia's platform, expanding its low-cost carrier inventory. For Allegiant, it opens access to Expedia's broad traveler base. This follows Expedia's recent acquisition of CarTrawler and strong Q1 results, reinforcing its strategy to broaden travel choice. The partnership could drive incremental booking volume for Expedia and strengthen its competitive position against other OTAs.
At the time of this announcement, EXPE was trading at $265.65 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $31.9B. The 52-week trading range was $174.05 to $303.80. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.