Despegar grows over 50% in Colombia and plans to triple

Colombia has become Despegar's fastest-expanding market in Latin America. Marcelo Grether, chief travel partners at the online travel agency, stated that business in the country is growing by more than 50% year-on-year. That rate contrasts with the broader Latin American travel industry, which Grether estimates is expanding between 5% and 10% annually.

Despegar operates both its flagship brand and Viajes Falabella in Colombia, where over 55% of sales occur through mobile devices. The company is preparing to launch a co-branded credit card with an undisclosed Colombian bank to offer loyalty points. In the wholesale segment, more than 2,500 travel agencies in Colombia purchase inventory through Despegar's platform to resell to their clients.

Across the region, Despegar generated between $6,200 million and $6,300 million in gross bookings for its fiscal year ended in March, posting annual revenue growth of 35% to 40%. Brazil represents over 40% of the business, Mexico and Argentina range between 15% and 25% depending on the month, while Chile and Colombia follow. The company's baseline plan aims to nearly triple in size over three years using organic growth and internal resources without new debt or acquisitions.

Integrated travel packages represent more than 50% of total bookings, and around 60% of customers open the mobile app while already traveling. Business travelers now make up 10% to 15% of users, prompting the development of a dedicated corporate platform scheduled for market tests within a few months. Despegar is also integrated into Prosus's network, enabling over 60 million iFood users in Brazil to book travel directly through that platform.