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    Expedia CEO on the STR Industry

    In this edited interview, Expedia Group CEO Peter Kern speaks about his company, demand for travel, the short-term rental industry, and other topics. Asked about a new One Key loyalty program being rolled out in July that combines Vrbo with Expedia and Hotels.com, Kern said, "We think it’s a big game-changer long-term in terms of just the customer experience. ... We want our customers to get the benefit of all our capabilities and stay in our ecosystem." Referring to Airbnb's new focus on renting individual rooms, he said, "They skew to lower average daily rates than we do, partly because we do whole apartments or villas and they do shared spaces, which we have not wanted to get into. Depending on the mix of business, that may benefit them or us at any given time depending on where demand is moving."

    Associated Press (06/12/23) David Koenig

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