Despegar.com, Corp. (NYSE:DESP) will look for M&A opportunities. Alberto Lopez Gaffney, Chief Financial Officer said, “In this context, we continue to operate in unprecedented times with many unknown and uncontrollable factors still impacting consumer behavior and the travel industry. Despite this, we remain focused on 4 goals as we continue to adjust to the current operating environment: first, focus on cash preservation and generation, while leveraging the newly added flexibility to our value proposition. Brazil and Mexico remain our key growth markets, while taking advantage of unpaid marketing channels; second, maintain a strict focus on cost controls; third, continue to protect liquidity, while at the same time, taking care of our customers as we continue processing the refunds that are still pending. And finally, as we've done with the Best Day and most recently with Koin, we are taking advantage of the current competitive environment to pursue selective M&A opportunities that complement our business and can benefit from our operating leverage”.
Despegar.com Corp is an Argentina-based online travel company. It provides a broad suite of travel products, including airline tickets, travel packages, hotel bookings and other travel products. It organizes its business into two segments: Air, which consists of the sale of airline tickets, and Packages, Hotels and Other Travel Products, which consists of travel packages, as well as stand-alone sales of hotel rooms, car rentals, bus tickets, cruise tickets, travel insurance and destination services. The Companyâs one-stop marketplace enables millions of users to find, compare, plan and easily purchase travel services and products through its websites and mobile apps. The Company owns and operates two brands: Despegar, its global brand and Decolar, its Brazilian brand. It operates in Latin America across 20 countries.