Expedia Case

Expedia: Case of the Gold-seated CEO By: Becca Pearson, Jake Pehrson, Jonathan Schroed, Claire Sonksen, Mckell Staheli

Research Checklist 1. External environment a. Economic, political and social environment According to a recent Gallup Daily poll, only 46 percent of american citizens currently support President Donald Trump. Though the public reports an overall improved personal and economic state compared to Barack Obama’s first year in office, the majority still opposes Trumps’ tax policies. If Trump succeeds in lowering taxes for the wealthy, there is potential for greater frustration regarding the financial divide between the rich and poor in America (Newport, 2016).

Gender equality is another key controversy being discussed both inside and outside the workplace. Only 61 percent of american men and 43 percent of american women believe that women and men have equal job opportunities, and the majority of american adults supportive affirmative action programs for women (Marken, 2016 ). In this environment, companies face the pressure of proving that they don’t discriminate based on gender when making hiring and salary decision. (Badal, 2014) .

2. Industry a. Organizations, companies, dollar sales, strengths, challenges The travel industry is composed of large consolidated agencies like Expedia, small agencies like local travel offices, and trade associations. The leading online travel companies include Expedia, Inc., Priceline Group and TripAdvisor. Expedia, Inc.​ ​(Mintel, 2016). The strength of the online

travel industry lies in its popularity among users. A 2016 Mintel report reported that 65 percent of travelers used online booking instead of offline booking to secure flights and 64 percent to find a hotel or motel (“Travel Booking”, 2016). b. Industry growth patterns, primary demand curve, per capita consumption, potential. i.

In 2015, Travel & Tourism in total contributed US$7.2 trillion to world GDP, representing 9.8% of global GDP.

ii.

The sector supported 284 million jobs, or 1 in 11 jobs in the world.

iii.

Travel & Tourism grew by 3.1% in 2015 - the 6th consecutive year of positive growth for the sector.

iv. v.

The sector’s contribution to GDP is forecast to grow by 3.3% in 2016.

Travel & Tourism will outperform the global economy throughout the next decade, growing by an expected 4% on average annually over the next ten years. (“Travel and Tourism”, 2016)

c. History, technological advances, trends The travel agency industry has been growing annually since the 1980s. The primary focus of travel agencies is to find and arrange transportation, tours and lodging for travelers (Pearce, 2005). According to a study by Huang, et. al, “travel and tourism industries have actively adopted the Internet as a new distribution channel since the mid-1990s … by the late 2000s … the use of Internet for travel-related transactions has reached a level of saturation” (2017). With an estimated 3.2 billion internet users worldwide (1.9 of those billion being smartphone users), most travelers rely heavily on technology both before and during the time they spend traveling. The quick and easy access to information has resulted in a change in consumer behavior and has gained the name “smart tourism” (Huang, et. al, 2017).

d. Characteristics, distribution patterns, control and regulation, promotional activity, geophagic characteristics, profit patterns The Gale Virtual Reference Library defines the travel industry as “young, dynamic, and in a relatively constant state of transformation and growth” (Pearce, 2005). Current promotional activity focuses on email distributions, mostly through the middle of the week (“Travel Booking”, 2016).

3. Client a. History Expedia was launched in 1996 by Microsoft Expedia Travel Services, a group who was working for Microsoft at the time. Initially launched as an online travel booking site, the group revolutionized the way people prepare for travel or vacation. Since 1997, Expedia has developed into an online network of name-brand travel companies. Currently, Expedia is recognized as one of the largest travel organizations in the world and among the leaders in its industry. In 2016, Expedia had over 18,000 employees and a gross revenue of over $8.4 billion (Expedia, 2016). b. Reputation and Strengths/Weaknesses Expedia has quickly gained a dominant presence in the travel sector due to the quality of its work and the many partners the company has acquired. Expedia has a positive reputation and their clients/customers seem to be extremely pleased. One customer said “A BIG thank you to the staff at Expedia. You really came up trumps in assisting us. You cleverly sorted out our problem and we were most impressed. Expedia is the one to book with hereafter!” Expedia, Inc. customers around the world can book reservations with nearly 80,00 hotel properties in over 1,500 markets, including more than 34,000 merchant hotel properties (The Expedia Team, 2016).

A 2013 SWOT analysis done by Expedia shows that the company has many admirable strengths, as well as a few areas that need improvement. One of Expedia’s greatest strengths is the wide range of travel agencies it owns. Through these agencies, Expedia is able to provide consumers with multiple options for each service (transportation, finding hotels, etc), thus greatly increasing their offering, reach, and revenue. At the same time, Expedia has the weakness of being an American based brand that is heavily reliant on American customers. This limited customer base has prevented Expedia from establishing itself as an international brand. Another weakness is Expedia’s heavy reliance on travel suppliers and other travel organizations as the medium for customer communication (Swot Analysis, 2013).

4. Product, service or issue a. Product Quality Over the past few years, Expedia has continued to acquire and build partnerships with new brands, thus ensuring the cheapest possible travel options for their customers. Originally, Expedia had relatively few partnerships and only offered select options for flights. As they have grown and developed, Expedia has begun to offer additional services such as hotels and car rentals.

Expedia is a company based on quality service. An example of this is Expedia Cares, an organization that is dedicated to making a difference in communities around the globe (Expedia, 2016).

Expedia Cares directly reflects the interests and passions of Expedia’s 18,000 employees by allowing them to vote on which projects or events Expedia Cares should become involved in. It provides service in a variety of forms including philanthropic giving, community service efforts, consulting advice and grants to those in need. The quality of service given by Expedia extends to all aspects of the organization, not just the service that they provide. This includes their employees since Expedia is ranked as one of the best companies to work for, and has a high

approval rating for its employees (Frohiich, 2015). Since they are growing fast and dominating their industry, there aren’t any foreseeable improvements. b. Expedia Features Its website is organized to be very user-friendly and easy to navigate. Customers may visit Expedia’s website and choose from hundreds of different flights, hotels, car rentals, bundle deals, cruises, and vacation specials (Expedia, 2016). The prices for each travel package vary widely, depending on the customer’s needs and wants. Expedia’s website also has options for trip advice and potential trip itineraries.

5. Promotions a. Gender Pay Equity Expedia was forced to address the gender pay equity issue in February of 2016. Arjuna Capital, a well-known activist investment firm, submitted a shareholder resolution to Expedia, asking them to submit a report comparing the salary, bonus, and equity awards of its male and female workers (Colby, 2016). Expedia was one of nine major tech companies that Arjuna Capital approached with this resolution. Before Expedia shareholders could vote on the resolution, Expedia agreed to release its policies and data regarding gender pay equity (PR Newswire: Arjuna Capital, 2016). In June 2016, Expedia announced its findings that, “on average, pay at Expedia, Inc. is equal between men and women” (PR Newswire: Expedia Inc, 2016). Expedia turned the disclosure into a promotional opportunity when it signed on to an Obama Administration pledge to reduce the national gender pay gap (Merluzzi, 2016). Expedia’s primary competitor, Priceline, neither received a shareholder resolution nor did they participate in the Obama Administration pledge. b. Expedia CEO’s Earnings Expedia’s CEO Dara Khosrowshahi made the news in May 2016, when the Wall Street Journal and other financial news sources reported on his 2015 earnings. Due to a stock option bonus,

Khosrowshahi earned $94.6 million in FY15, an 881 percent increase from the previous year (Shen, 2016). Fortune.com speculated that Khosrowshahi was paid roughly 4,756 times more than his workers (based off data from Glassdoor) (Shen, 2016). Expedia responded through a spokeswoman, who emphasized the impact that Khosrowshahi has had on Expedia’s success (Melby, 2016).

6. Market share a. Expedia and the Travel Market The Total Travel Market Value for 2016 was approximately $1.4 Trillion, a nearly $100 Billion increase from 2014 (Schaal, 2016). In 2016, a little less than half of the Total Travel Market Value ($630 Billion) was generated from the Online Travel Agency (OTA) market (Expedia, 2016). Most of the market is consolidated between two companies; Expedia and Priceline. Over the past five years, Expedia has been aggressive in acquiring smaller competitors such as Orbitz, Trivago, HomeAway, and Travelocity (Expedia, 2016). The acquisitions have given Expedia more than 200 sites in over 60 countries. They manage 269,000 properties in 200 countries, 400 airlines and a variety of cruise, rental car and activity based vacation packages (Expedia, 2016). b. Expedia Market Share: Domestic and International Fifty-six percent of Expedia’s revenue comes from the US online travel market, where they own 17 percent of the market (Expedia 2016). Internationally, Expedia’s strongest holdings are in the Europe/Middle East/Africa Market (five percent market share), thanks to their Germany-based acquisition, Trivago (Expedia, 2016). Expedia’s rival, Priceline, has a stronger presence in the Asia-Pacific market. However, OTAs have recently struggled internationally. Political instability and terrorist attacks have deterred many travelers from visiting Europe and Asia, while the Zika virus has scared others away from Latin America and the Caribbean. This may be part of the reason why Expedia has focused more on consolidating the US OTA market.

In 2015, Expedia earned $6.6 Billion in revenue; 69 percent of which came from hotel bookings (Expedia, 2016). Expedia currently has an eight percent share of US-booked rooms (Expedia, 2016). Expedia executives expect that share to increase significantly, once recent acquisitions such as HomeAway are fully integrated into the company (Expedia, 2016). In 2015, Expedia earned $564 million in advertising and media revenue, roughly nine percent of their total revenue. c. OTA Business Models Most OTAs use two different business models for transactions. The merchant business model allows the OTA to buy rooms/packages from suppliers at a discounted price and markup the price for consumers. Under the agency model, the OTA acts as an agent for the supplier and earns a commission for every transaction (Schmidt, 2015). In 2016, the merchant business model accounted for 55 percent of Expedia’s total revenue, while the agency model generated an additional 28 percent (Zacks Equity Research, 2016). While Expedia relies more heavily on merchant revenue, Priceline focuses more on the agency business model. Priceline earned $8.6 Billion in total revenue in 2015; $6.5 Billion of it came from agency revenue (Patel, 2016). d. Online Travel Market Potential The online travel market has experienced healthy growth globally as the internet continues to expand. The travel markets that show the most promise for potential growth are those with lower internet penetration (Asia-Pacific and Africa) (Patel, 2016). However, as the internet becomes more accessible, OTA’s will also face increased competition from travel service providers that encourage customers to book directly on their platforms (Patel, 2016).

7. Competition a. Who and where the market is; how it’s segmented Since the travel industry is a growing market, Expedia is in an interesting situation when it comes to competitors. Expedia is the parent company to many other brands that do aspects of what

Expedia does. The company acts as a middleman between hotels, resorts, flights, rental cars, and customers. In essence, all of its brands perform similar tasks but within a smaller segment of the market. Over the past few years, Expedia has bought out some of its competition. To avoid confusion in regards to the company’s competition, Expedia’s brands include: ·

Expedia.com

·

Classic Vacations

·

Hotels.com

·

Expedia Local Expert

·

Hotwire.com

·

Travelocity

·

Trivago

·

Orbitz

·

Egencia

·

HomeAway

·

Venere

·

CarRentals.com

b. Competitors and their potential Expedia’s main competitors are Priceline and Airbnb. Like Expedia, Priceline has its own multitude of brands that help customers find hotels, flights, and the like (booking.com, agoda.com, KAYAK). Airbnb on the other hand is slightly different. It is aimed more towards traveling groups and families who can stay in a house for a given time instead of cramming into a hotel room. Airbnb is currently only a part of the lodging aspect in a vacation. With Airbnb’s “Live Like a Local” advertising campaign, it positions itself as more of a long-term vacation option than as a hotel service (Levy, 2016).

Thus, Priceline is Expedia’s most direct competitor, with Airbnb as a close second. However, Expedia will have to keep an eye out, as Airbnb has grown quickly and is expected to expand in the near future. (Nickelsburg, 2016).

Expedia and Priceline have dominated the market and continue to experience growth year to year.

The graph below shows both companies’ revenue growths over the past five years. In June of

2016, Priceline was projected to make over $10 billion in revenue for the year, and Expedia was projected to make almost $9 billion. Priceline is a bit larger in size and targets more of an international audience than Expedia (Cardenal, 2016).

Although companies like Expedia and Priceline have partnerships with companies to provide rooms, flights, cars, etc., they still compete are still competitors with individual companies, such as the hotel itself. Hotels, airlines, and car rental companies still get customers to buy directly through them. Many travelers (though not all) feel it is more cost-effective to work with the companies directly rather than using Expedia or Priceline (Talty, 2015).

8. Resources a. Intervening publics and opinion leaders / publics’ opinions toward Expedia Expedia’s audience is comprised of people who travel for both business and leisure. Many of these travelers decisions are influenced by bloggers who write about various types of travel. This

includes bargain hunters, adventurers, beach bums, and the like. These bloggers write about their traveling experience and offer tips about interesting tourist sites and destinations, depending on what the customers are up for. Though these blogs don’t have a large following, their following is large enough to consider them an influencer in the travel market. (Expedia Bloggers, n.d.).

Elliot.org is a website that seems to be an intervening public to Expedia. The website’s writers offer commentary about various topics and questions, including travel. When “Expedia” is typed into the search bar, many articles come up about Expedia, including hassles/reasons not to use it.

These articles criticize Expedia for being difficult to contact and retrieve refunds from. However, If people are diligent in looking into their Expedia booking before paying, they typically don’t have any problems. In the situations where problems have occurred (i.e. – flights cancelled), Expedia is difficult to contact. This makes refunds also difficult to come by (Perera, 2016).

Other sources (bloggers specifically) tend to like Expedia with these same caveats. One said, “Expedia is great when it runs smoothly, but can be very bad when it doesn’t” (Daniel, 2015). b. Physical facilities and personnel Expedia’s corporate organization is unique in the sense that it’s business does not depend heavily on the location of its facilities. The only contact customers have with the company is over the phone or online. This is simply the nature of the travel technology business. However, employees must love working at Expedia because it was listed in Business Insider’s top 20 places to work for 2016 (Bort, 2015).

9. SWOT analysis STRENGTHS 1. Broad range of online travel and hospitality service offerings

WEAKNESSES 1. Heavy reliance upon travel suppliers and other intermediaries 2. High dependence on US Market

2. Easy access to book all essential parts

3. Limited Investment in Foreign Markets

of travel

(Asia - Pacific-Europe)

3. Strong portfolio of travel brands

4. Bad customer service (many poor reviews)

4. Strong US presence OPPORTUNITIES

THREATS

1. Acquisitions could help expedia expand its presence in Europe

1. Uncertain global economic conditions 2. Stringent regulations could affect the

2. Business expansion initiatives

company’s growth

3. Partnership agreements across the globe

3. Airbnb, and similar becoming a new competitor

10. Market Research a. Demographic and Psychographic data i.

Demographics 1. 55% of customers are female, with 45% being male 2. 69% of customers are age 25-54 years old a. 62% of customers have a household income of $75k+ (“Expedia media solutions: Audience,” 2016) i.

Furthermore 21% of its audience range in age of 25-42 years of age with an income of more than $100k (Ltd, 2012)

b. Caucasian and Asian with a low representation of Black and Hispanic race

c. Customers primarily married or engaged d. Dominates in the West and North East ii.

Psychographics 1. Occupations a. Professional corporate jobs, ie Management, Sales, and Finance 2. Media Consumption a. Medium to heavy users of i.

Magazines 1. Costco Connection 2. Bloomberg Businessweek 3. Consumer Reports 4. National Geographic

ii.

Internet 1. Wall Street Journal 2. ESPN 3. Facebook 4. MSNBC News

iii.

Television 1. BBC 2. Animal Planet 3. Home and Garden 4. MSNBC 5. The Weather Channel

iv.

Radio (Bohman, 2013)

b. Current attitudes, opinions and values i.

Customer online reviews: 1. “​I filled out the necessary form and showed Expedia the proof (screenshot) that I discovered a lower price (on the actual hotel website) on the same room I booked with them. They disputed it and issued me a 9 cents refund rather than the $75 difference. A complete scam!!!”

“Last night I bought a flight to New York for 01/13/17. They charged in my credit card 3 times and never booked my flight. I called the customer services of Expedia. They said they will do the refund, so the credit will be available just for the next week and worse, the same flight now is the double of the price. Even the price drop down again (I doubt), I'll not be able to buy another flight, because I don't have credit available until the next week. I'm desperate to travel. I needed this travel. I needed get away for a few days. The company that I'm working don't pay any vacation day and finally I found a great price for flight in a long weekend (holiday), but Expedia take off my joy and give me sadness and frustration. I don't have words to really express my feelings right now. Thank you Expedia!”

2. “I rented a car through Expedia website from Budget car rental, but the problem is that I was under impression that I reserved the car for one week starting 1/6/17. When I was looking and searching for a care I put date 1/6 to 1/11 just to look for available cars. Then I found on Expedia an offer for $82 weekly rate, and at the bottom of the screen a reservation button that I hit to reserve for one week without going back and changing the date. So when I went to pick up the car from Budget they did not

want to change it to a whole week instead of 1/6 - 1/11, and advised me to pick the car with the wrong reservation date 1/6-11 and call Expedia to change to whole week from 1/6 to 1/13.

I called Expedia to change the dates for my car that I already picked to one week from 1/6 to 1/13 so I don't have to cut my vacation and travel prematurely on 1/11/17, but they couldn't change it. They advised me to a screenshot that shows your advertised weekly rate of $82 to customer service as a proof of my claim in an effort to make you change it to one week from 1/6 to 1/13 instead of 1/6 to 1/11. I spent 2 hours on the phone with Expedia customer service and sent 5 e-mails without any help. Their customer service people are not willing to help at all, they sound like a broken records with just repeating the statement that they were told to say in an automatic manner. They just want to take your money without give back any decent service.” ​(“Top 2,960 complaints and reviews about Expedia,” 2017) ii.

Customers are looking for a good deal, but also the help provided by customer service if something should go wrong.

c. Motivating self interests and opinion leaders i.

Current partnership with Disneyland, Disneyworld, and Aulani in Hawaii

ii.

Video advertisements are emotion-based and applicable to various situations worldwide, motivating travelers to use Expedia.

1. Examples of this are Expedia’s key memos: a. Find your understanding b. Find your perspective

c. Find your storybook: Visit (insert country here) d. Find your new friend (i Spot, 2017) iii.

Customers want a get away including the flight(s), rental car, and hotel, without the hassle of booking each of them individually. Expedia makes travel easier for its customers.

d. Information sources and preferred media channels i.

TV 1. Ability to reach large mass audiences 2. People spend more time watching TV than any other medium 3. Able to target certain niche audiences 4. Provide more brand awareness for Expedia

ii.

Radio 1. Good frequency builder, people are listening on their way to work 2. Highest listenership in the summer, a popular time for travel 3. Able to target niche audiences

iii.

Magazines 1. Targetable 2. Long-lasting impress with pass-along readership 3. Paints a glamorous image with coincides with travel, encourages/inspires people to go out and travel 4. More of an upscale medium, matching their high income level target audience

iv.

Online

1. Expedia is an online service, thus their audience is comfortable in the online world 2. Very targeted 3. Able to reach a younger audience 4. One of the most popular mediums ​(Bohman, 2013)

Situation Analysis Expedia is a large company that has experienced rapid growth over the past five years. With large growth comes large profits, specifically for Expedia’s executives. Executives are concerned that the knowledge of their salaries may become an emotionally-charged issue. In 2015, ​CEO Dara Khosrowshahi​ was paid roughly one eighth of the company’s overall profits. The same year, Khosrowshahi also received a 94% CEO approval rating (Parkhurst, 2015). This high approval rating illustrates that Expedia executives (specifically the CEO) are already viewed positively by employees; despite the fact that executives make so much more money. This suggests that the issue of employee pay disparity is more likely to upset the general public/outsiders, rather than Expedia employees themselves. The gender pay equity case in February 2016 is a classic example of this. The resolution that pushed Expedia to act was first introduced by a third-party activist investor group, rather than a current or former Expedia employee. When considering the issue of pay equity, Expedia executives should focus on maintaining a positive public image. One method of accomplishing this would be to showcase Expedia’s contributions to the community. Expedia’s charitable contributions to nonprofit organizations and community outreach programs have the potential to increase consumer trust.

Even when Expedia shows the public the good they are doing both to further gender equality in the workplace and give back to the community, there is still a chance that the public will perceive the executive’s efforts as unauthentic. Additionally, this could affect the employees’ retention rates, as they may feel that there are limited opportunities for growth in the company.

Core Problem If Expedia can bring to light the importance of the role of executives within the company, then Expedia will be able to maintain current industry standards and growth rates.

Communication Solution Based on the research, Expedia should implement the following solution: showcase the efforts of Expedia Cares and highlight the role and experience of Expedia executives. Expedia Cares has provided service and assistance for a variety of projects throughout the world. Showcasing what Expedia Cares has accomplished for local communities will show the public the vision that Expedia executives have for their community and for Expedia. One possible solution could be a media campaign that highlights stories of individuals who have been positively impacted by Expedia Cares. In addition, Expedia should showcase the amount of business that their executives have brought to Expedia over the past five years. This will allow the media and the consumers to gain further trust of company executives and portray them in a positive light.

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