EXPE · 10-Q · 2026Q3 · Full report

Alternative Accommodations Expansion

Expedia Group, Inc. · 2026-11-05 · Importance 26 · Surprise 24

Expedia’s global lodging marketplace included approximately 3.9 million properties as of September 30, 2026, including 2.5 million online-bookable alternative accommodations through Vrbo. Vrbo specializes in whole-home inventory, primarily in North American leisure markets. It has shifted from a listings-based model to online transactions and primarily earns traveler service fees through a pay-per-booking model, with marketing and product investment intended to support growth.

Key facts

• Vrbo transitioned from a listings-based classified-advertising model to an online transactional model and aims to increase monetization and growth through marketing, product and technology investments. source
• As of September 30, 2026, Expedia Group’s global lodging marketplace had approximately 3.9 million properties available, including approximately 2.5 million online-bookable alternative accommodations through Vrbo and approximately 1.4 million hotels and alternative accommodations through its other brands. source
• Vrbo specializes in whole-home inventory primarily in North American leisure markets and represents a growth opportunity for Expedia Group. source
• Vrbo primarily uses a pay-per-booking service model and earns revenue from traveler service fees and insurance products. source