Despegar, an online travel agency focused on Latin America and the parent company of Decolar in Brazil, plans to triple in size over the next three years, driven by its operations in Brazil, and intends to invest US$100 million a year during that period, its newly appointed chief executive told Reuters.
The company, acquired a year ago by Dutch technology investor Prosus, will invest in technology ‘for a future heavily based on artificial intelligence’, said chief executive Gonzalo Estebarena.
Founded in Argentina in 1999, Despegar is one of the largest online travel platforms in Latin America. It ceased trading on the New York Stock Exchange after being acquired by Prosus for around US$1.7 billion.
‘Our main goal is to triple the size of the company in three or four years, in terms of volume of transactions and operations’, said Estebarena in an interview at Despegar’s offices in Buenos Aires.
‘The growth rate we propose for the future is much more aggressive than the growth seen over the last seven or eight years,’ he added.
The company expects to more than triple its gross reserves, to US$18 billion, by the end of the decade, based on current numbers.
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Estebarena, who served as Despegar’s chief technology officer before assuming his new role this month, said growth will be driven by integration with other platforms in Brazil, where Prosus owns several technology companies, including iFood, the country’s largest food delivery app.
Since the beginning of this integration in 2025, 14% of Decolar’s revenue — a Despegar brand in Brazil — has come from iFood customers who have accumulated points through a loyalty program, according to Estebarena.
‘This gives us a lot of confidence, because iFood has 25 times more customers than Decolar. It’s definitely an avenue for growth. The opportunity is huge,’ he said.
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There has been some slowdown in sales of tickets and travel packages, as the war in the Middle East has raised oil prices and created uncertainty among customers, he said.
‘The main impact is the uncertainty it creates among people, and potentially — although not yet to the same extent as it could reach in the future — we are starting to see an impact on prices due to rising fuel costs,’ said Estebarena.
