Egencia Releases 2010 Corporate Travel Global Benchmarking Study and Travel Manager Research

ATPs Rise as Airlines Manage Capacity and Business Travel Demand Begins to Return; Hotel Market for Corporate Travelers Remains Soft

LONDON, June 2, 2010 - Egencia(R), an Expedia, Inc. company, today unveiled its 2010 Corporate
Travel Global Benchmarking Study, evaluating the current business travel
landscape and corresponding supply environment for air, hotel and car
inventory. Focusing on top domestic and international business destinations
in North America, Europe and Asia-Pacific, Egencia analyzed industry trends,
supplier research and capacity implications in Q1 2010. The study validates
themes uncovered in Egencia's 2010 Forecast and Hotel Negotiability Index,
including that the hotel market for corporate travel has experienced
significant decreases in Q1.

"As expected, the pricing environment has changed compared to last year,"
said Christophe Pingard, Senior Vice-President, Egencia EMEA and APAC. "While
businesses are maintaining their fiscal conservatism, they have begun to
reinvest and corporate travel has begun to return. At the same time, airline
carriers continue to limit capacity which results in rising fares that do not
compensate for the decrease of 2009. In 2010, the largest opportunity for
corporations to control spend is through the management of a strict hotel
program, area where prices remain soft."

Average Ticket Prices (ATPs)

Europe

European airlines are maintaining their capacity discipline in 2010.
Though European businesses are slowly increasing travel demand both
domestically and internationally, this tighter control of capacity has
resulted in an increase in ATPs for several business destinations, though the
picture is not as clear-cut as North America. Conversely, prices are being
driven downward by a number of factors including perceived economic
vulnerability of Euro-zone. Increased competition from a number of low-cost
carriers and decreased passenger load factors have also resulted in downward
pricing pressure for corporate travel.

The chart below illustrates Q1 YoY ATP figures in top business
destinations for European points of sale .

    European POS      ATP Change YoY

    Dublin                  13%
    Brussels                11%
    Barcelona                5%
    Marseille                5%
    Madrid                   1%
    Paris                    0%
    Manchester               0%
    Stockholm                0%
    Moscow                  -1%
    Glasgow                 -2%
    Amsterdam               -2%
    Berlin                  -4%
    London                  -5%
    Munich                  -6%
    Frankfurt am Main       -9%
    Lyon                   -10%
    Milan                  -11%
    Chicago                 19%
    New York                15%
    San Francisco           13%

*Reflected in local currency

North America

As a result of the economic downturn and resulting decrease in travel in
2009, airlines have maintained capacity discipline into 2010. With increased
demand for business travel in Q1 2010, this has resulted in an increase in
average ticket prices. Higher fuel surcharges, reduced competition on many
routes and the dramatic slowing of route expansion has also resulted in
upward pressure on ticket prices for major business destinations in North
America.

The chart below illustrates Q1 YoY ATP figures in U.S. dollars in
selected business travel destinations for North American points of sale.

    North America POS   ATP Change YoY

    Toronto                  17%
    Seattle                  17%
    Philadelphia             16%
    Chicago                  15%
    Phoenix                  15%
    Dallas                   15%
    San Francisco            14%
    Calgary                  13%
    San Diego                12%
    Vancouver                12%
    Montreal                 11%
    Los Angeles              11%
    Houston                  11%
    New York                 10%
    Boston                    9%
    Minneapolis               7%
    Atlanta                   5%
    Denver                    5%
    Washington DC             3%
    London                   25%
    Paris                    17%
    Hong Kong                13%
    Tokyo                    -2%

*Reflected in local currency

APAC

Asia-Pacific represents a truly heterogeneous air pricing landscape,
varying on a market-by-market basis. Driving the pricing increases is greater
demand for business travel into China and India and the strength of the
dollar, which has resulted in higher fuel costs for many APAC carriers. Many
markets also showed substantial decreases, especially in Australia where the
competition for domestic routes heated up between JetStar and Virgin
Atlantic, as well as Tiger Airways. Many Asia-Pacific carriers have
maintained or increased capacity in contrast to their European and North
American counterparts, resulting in decreased prices.

The chart below illustrates Q1 YoY ATP figures in top business
destinations for APAC points of sale.

    APAC POS        ATP Change YoY

    Delhi                32%
    Mumbai               16%
    Beijing               9%
    Hong Kong             7%
    Tokyo                -7%
    Shanghai             -8%
    Singapore            -8%
    Melbourne           -25%
    Sydney              -27%
    San Francisco        13%
    New York              4%
    Los Angeles           0%

*Reflected in local currency

Hotel Average Daily Rates (ADRs)

In the first quarter of 2010, hotel average daily rates dropped in major
business destinations. Contributing to this, the meetings and incentives
business has yet to fully recover and the recent influx of supply coming on
the market over the last several years has resulted in an overabundance of
hotel capacity in many cities. While corporate demand has begun to rebound,
higher average ticket prices and lower air capacity brings less business
travelers, resulting in decreasing hotel rates. With improved occupancy and a
decreasing amount of new hotel supply coming into the market, hotel prices in
select European and Asia-Pacific markets were actually flat to up.

The charts below illustrate Q1 YoY ADR figures in selected business
travel destinations globally.

                     ADR                        ADR                 ADR
    North America   Change    Europe           Change    APAC      Change
                     YoY                        YoY                 YoY

    Atlanta          -3%      Amsterdam         -3%      Beijing    -3%
    Boston           -4%      Barcelona         -5%      Delhi      -4%
    Calgary          -4%      Berlin             5%      Hong Kong  17%
    Chicago         -10%      Brussels          -6%      Melbourne  -4%
    Dallas           -5%      Frankfurt am Main -2%      Mumbai    -10%
    Denver           -5%      London             4%      Shanghai   -1%
    Houston          -8%      Madrid           -12%      Singapore   0%
    Los Angeles      -3%      Milan             -8%      Sydney      2%
    Minneapolis      -4%      Munich             2%      Tokyo       4%
    Montreal         -1%      Paris              2%
    New York         -3%      Stockholm         -1%
    Philadelphia     -5%
    Phoenix         -11%
    San Diego        -1%
    San Francisco    -9%
    Seattle          -5%
    Toronto          -3%
    Vancouver        43%
    Washington, DC  -12%

*Reflected in local currency for each city

Travel Management Trends

Egencia also surveyed more than 400 travel buyers in North America and
Europe regarding travel program expectations, policies and challenges.
According to respondents, 56 percent of North American buyers and 45 percent
of European buyers expect their travel volumes to increase during the
remainder of 2010, with 20 percent (North America) and 15 percent (Europe)
planning to change their travel policies during the year. Additionally, 40
percent of North American travel buyers and 49 percent of European travel
buyers said they will negotiate more this year than they did in 2009.

Jonny Shingles, Managing Director, Egencia UK, said: "According to our
survey, 46 percent of European corporate travel buyers are evaluating
supplier contracts more frequently due the economic climate. That means
companies learned the importance of tightly managed travel programs and have
kept strong focus on these efforts. This is indeed the best opportunity to
build savings, especially with hotel programs."

Travel Managers universally identified cost control/reducing spending as
the greatest challenge facing travel programs. Specific rankings of travel
program challenges are as follows:

    - Cost control/reducing expenses (59% Europe, 49% North America)
    - Traveler satisfaction (11% Europe, 23% North America)
    - Traveler compliance/policy enforcement (12% Europe, 13% North America)
    - Capturing a full view of travel spend (9% Europe, 7% North America)

Further insights into Egencia's 2010 Benchmarking study and Travel
Manager survey are available upon request.

Research Methodology

Forecast and projections are based on the statistical analysis of the
past and present industry trends, macroeconomic factors, market research and
vendors' capacity forecasts for 2010. Smith Travel Research (STR) and OAG
filings were leveraged for a market-level analysis of both Lodging and Air
capacity. ARC, STR and Expedia Internal Data were used for market-level
analysis of pricing.

About Egencia, an Expedia, Inc. Company

Egencia is the fifth largest travel management company in the
world. As part of Expedia, Inc., (NASDAQ: EXPE), the world's largest travel
marketplace, Egencia helps businesses get ahead by offering the only truly
integrated corporate travel service. Egencia's industry expertise helps drive
results that matter, delivering meaningful advancements that have a real
impact. By combining a powerful offline and online service, Egencia delivers
a complete corporate travel offering supported by global market expertise and
a best-in-class technology platform.

For more information, go to:

www.egencia.eu

This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
These statements are not guarantees of future performance. These
forward-looking statements are based on management's expectations as of the
date of this press release and assumptions which are inherently subject to
uncertainties, risks and changes in circumstances that are difficult to
predict. Actual results and the outcome of events may differ materially from
those expressed or implied in the forward-looking statements for a variety of
reasons, including declines or disruptions in the travel industry caused by,
among others, prolonged adverse economic conditions, health risks, increased
adverse weather, natural disasters such as earthquakes or volcanic eruptions,
war and/or terrorism and bankruptcies.

Egencia and the Egencia logo are either registered trademarks
or trademarks of Expedia, Inc. in the U.S. and/or other countries. Other
logos or product and company names mentioned herein may be the property of
their respective owners.

(c) 2010 Egencia, LLC. All rights reserved.

    For more information, press only:

    Raphaelle Boissicat, Egencia Europe
    Corporate Communications Manager
    +33-1-73-01-01-47
    r.boissicat@egencia.com

For more information, press only: Raphaelle Boissicat, Egencia Europe, Corporate Communications Manager, +33-1-73-01-01-47, r.boissicat at egencia.com .