Despegar Widens Reach But Still Reported a Fourth Quarter Loss
Skift Take
Don't be surprised if Despegar makes and acquisition or two in 2023. That's baked into its plans.
Despegar is increasing its product and geographic diversification but its net loss widened a tad in the fourth quarter because of weak travel demand and higher expenses.
On the upside, the Argentina-based online travel agency, which has Brazil as its largest market, saw travel recovering in the first two months of 2023.
In the fourth quarter, Despegar recorded a net loss of $15.2 million, compared $13 million a year earlier, on $145.5 million in revenue, a 17 percent jump. Revenue — some of it propelled
