Latin America’s Despegar Will Have to Navigate Coronavirus Currency Impact

A 2019 aerial shot of Rio de Janeiro, Brazil, a popular Latin American travel destination. CEO Despegar Damián Scokin announced the booking company’s fourth-quarter earnings on Thursday. Sergio Souza / Unsplash Skift Take: Coronavirus has caused turmoil in the global financial markets, which has devalued several key currencies and made foreign trips costlier. But devaluation … [Read more…]

Despegar Buys Mexican Travel Agency Best Day for $136 Million

The staircase located at the edge of cliff at the Mayan Ruins of Tulum in Mexico. Brain & Storm / Flickr Skift Take: At a stroke, Despegar will boost its annual revenue by about 25 percent. Acquiring Best Day Travel Group, one of the largest travel agencies in Mexico, will also solidify its set of … [Read more…]

Latin America’s Despegar Wants to Double Bookings by 2025: How Realistic Is That?

Despegar CEO Damián Scokin spoke at a company town hall in Buenos Aires in December 2019. Despegar Skift Take: Despegar doesn’t follow the same playbook as the global online travel players. Charting its own path has worked for the Latin American agency. Expect Despegar to make a strategic acquisition this year to support its heady … [Read more…]

Latin America’s Biggest Travel Company Isn’t Despegar or Booking

Pictured is a vineyard and the volcano Aconcagua Cordillera, part of the Andes mountain range, in the Argentine province of Mendoza. Brazil-based travel company CVC Corp. closed a $77 million acquisition of Buenos Aires-based Almundo in November 2019. Kseniya Ragozina / Adobe Skift Take: Brazil’s CVC Corp.’s purchase of Argentina’s Almundo is a strategic move … [Read more…]

Despegar Uses Installment Payments to Prod Demand

In 2019, Despegar launched a rebranded logo and marketing campaign that included tote bags with a theme of the online travel agency helping people plan all parts of their trip. The logo was done by brand consultant Saffron. Despegar Skift Take: Some religions take it on faith that their messiah will come, but they stoically … [Read more…]

Despegar Surfs Rising Wave of Mobile Travel Bookings in Latin America

Damián Scokin, CEO of Despegar, speaking at a travel industry event. In 2018, Despegar, Latin America’s largest online travel agency, reported $531 million in revenue, which was flat year-over-year growth. Yordi Muñoz Rivera / Despegar Skift Take: The Argentine economic crisis continues to drag on Despegar, but the online travel agency’s continuous investment in mobile … [Read more…]