Despegar Divests Destination Services Business Unit, Driving Further Focus On Its Core Growth Strategies

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BRITISH VIRGIN ISLANDS, August 15, 2024 --(BUSINESS WIRE)-- Despegar.com, Corp. (NYSE: DESP) ("Despegar" or the "Company") , Latin America’s leading travel technology company, today announced that it has formed a strategic alliance with World2Meet, the travel division of Iberostar Group, a Spain-based global tourism company. Under the alliance’s agreement, World2Meet has acquired Despegar’s Destination Management Company (DMC) BDExperience effective August 1, 2024, and will operate as a preferred partner to Despegar for the provision of destination services in Mexico and the Dominican Republic.

In line with Despegar’s focus on key long-term growth strategies, improving operational efficiency and maximizing return on capital, the divestiture of DMC enables the Company to better concentrate resources on its core business and further strengthen its organic growth profile.

Despegar’s DMC, operating under the BDExperience brand, is a destination management company with over 30 years of experience in the travel industry, specializing in airport transfers, private and group tours, and personalized assistance for tourists.

As a result of the transaction, nearly 600 BDExperience employees will transfer from Despegar to World2Meet.

About Despegar.com

Despegar is the leading travel technology company in Latin America. For over two decades, it has revolutionized the tourism industry in the region through technology. With its continuous commitment to the development of the sector, Despegar today is comprised of a consolidated group that includes Despegar, Decolar, Best Day, Viajes Falabella, Viajanet Stays and Koin, and has become one of the largest travel companies in Latin America.

Despegar operates in 19 countries in the region, accompanying Latin Americans from the moment they dream of traveling until they share their memories. With the purpose of improving people's lives and transforming the shopping experience, Despegar has developed alternative payment and financing methods, democratizing the access to consumption and bringing Latin Americans closer to their next travel experience. Despegar’s common shares are traded on the New York Stock Exchange (NYSE: DESP). For more information, visit Despegar’s Investor Relations website https://investor.despegar.com/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240815939829/en/

Contacts

IR Contact Luca Pfeifer, Investor Relations Phone: (+1) 305 481 1785 E-mail: luca.pfeifer@despegar.com

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