Expedia Group is a global online travel marketplace that helps travelers book and explore lodging, airlines, car rentals, activities, cruises, and other travel services through multiple business models—operating as a merchant (collecting payment from travelers), agent (travelers pay providers), or hybrid. The company generates revenue through commissions and markups on travel bookings across its consumer websites and mobile applications, as well as through media and advertising solutions that connect travel and non-travel advertisers with transaction opportunities. The company also operates a growing business-to-business division serving travel industry partners, competing in an increasingly complex market against legacy online travel agencies, metasearch platforms, direct distribution by airlines and hotels, alternative accommodation providers, and emerging AI-powered travel planning tools.