Expedia is not looking at adding new hotels to its portfolio after all.
The company is now focusing on its existing properties, and is set to close some of the remaining hotels it owns, a company spokesman told The Verge.
“We’re really focused on the brands we’ve owned for a long time and where we can make the most of them,” said Joe Lai, the company’s chief executive officer.
“That includes our existing hotels and properties.”
Expedia announced last week that it would close all of its properties and relocate some employees.
That announcement comes after months of negotiations with other companies.
Expedia has said that it is closing all of the properties that it owns in the US and UK, but it hasn’t said when those plans will be finalized.
At the same time, the firm is set on relocating some of its US and international headquarters.
“Our strategy is to build our business to be able to operate as a global business,” Lai said.
“The goal is to be a global company, and we’re very focused on building the most profitable business.”
Expedite is planning to shut down its business in the United States and Canada.
It plans to start operations in the UK later this year.
The new business is expected to be the largest single expedia company in the world by revenue and will be a big deal for the company.
Lai explained that the company had been working on plans to open its first US and Canadian offices for some time.
“In fact, we are planning to open a franchise in the U.S. in the next 12 months, so it’s a good time to get a foothold in the new space,” Lax said.