<<any take on EXPE?>>
Not really. They have an inferior hotel product to ROOM, and get most of their gross profit from air (both standard and PCLN-like merchant model). Also remember that air is much more competitive than hotel, as they compete w/ all of Travelocity, PriceLine and Orbitz (the new airline-industry sponsored site). In their defense, on the air side they are the best, and I use the service. Its a well managed company, and expenses will probably come in lower than expected, especially on the marketing side. So if I HAD to GUESS, I would say a basically in-line quarter, maybe a little above expectations with marketing costs lower. That said, the stock is trading up on the ROOM news, and I think the EXPE quarter will pale in comparison to ROOM, so if I had to bet on the direction of the stock I'd say down on a "sell the news" reaction (fwiw, I'm NOT betting on the direction of the stock, at least not with capital)
I guess that's not really "not really any take on EXPE" <g>
Often wrong, never in doubt.....
Cheers |
