Despegar boosts its strategy with the sale of BDExperience to World2Meet

20-08-24

Despegar, the renowned online travel agency based in Latin America, has decided to sell its destination management business, BDExperience, to World2Meet (W2M), the travel division of the Iberostar Group. This strategic move, the amount of which was not disclosed, allows Despegar to focus on its technological growth and the optimisation of its core operations.

BDExperience, known for its expertise in destination management in Mexico and the Dominican Republic, will continue to serve Despegar in these markets, ensuring a smooth transition and maintaining the quality customer service that characterises both brands. This sale is part of a context in which Despegar is seeking to strengthen its technological and operational capabilities.

The announcement of the sale coincided with the presentation of Despegar's financial results for the second quarter of 2024. During this period, the company experienced a 4% increase in gross bookings to USD 1.3 billion. In addition, revenues increased 12% year-on-year to USD 185 million. These positive results reinforce Despegar's position as a leader in the travel industry, highlighting its ability to adapt and grow in an ever-changing market.

A key factor in Despegar's recent success has been its commitment to technological innovation, especially with the implementation of its artificial intelligence travel assistant, Sofia. Since its launch in March 2024, Sofia has seen a four-fold increase in daily conversations, demonstrating its acceptance among users. In addition, the percentage of customers returning to use the service after the first interaction has doubled, indicating a high level of satisfaction.

Sofia not only facilitates travel planning, but has also improved Despegar's after-sales support capabilities. The artificial intelligence assistant can now access a traveller's previous and current bookings, allowing for a more personalised and efficient experience. The tool has been designed to optimise sales conversion by providing a ‘sales path’ that incorporates greater commercial intent. This means customers can continue their conversations across multiple devices, making travel planning faster and more effective.

In addition, Sofia has been enhanced to have a greater awareness of the products and services offered by Despegar, including its loyalty programme and payment options. This upgrade not only strengthens Despegar's offering, but also enhances the user experience, making it a comprehensive tool for customers. The company also plans to integrate Sofia into its B2B platforms, allowing its business partners to take advantage of this advanced technology.

With the sale of BDExperience, Despegar is strengthening its focus on technology and enhancing its core services. This strategic move not only allows Despegar to concentrate on its future growth, but also provides it with the necessary resources to continue to invest in innovation. World2Meet, for its part, benefits from integrating a destination management company with a strong reputation and experience in two of the region's most important markets.

The sale of BDExperience to World2Meet represents an important step in Despegar's strategy to consolidate its market position. At the same time, it demonstrates its commitment to technological innovation and continuous improvement of the customer experience. As Despegar continues to evolve and adapt to market demands, we are likely to see more strategic moves that reinforce its leadership in the travel industry.

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