In the fourth quarter of 2023, Latin American online travel agency Despegar reported a highly successful period, achieving their highest gross bookings since their IPO in 2017. The company’s gross bookings for the quarter rose 44% year over year to $1.5 billion, making an annual increase of 31% to $5.3 billion. Revenue in Q4 increased 40% year over year to $204 million, with adjusted EBITDA also rising 248% to $44 million. The success was credited to a 41% increase in gross bookings in its B2C business to $1.3 billion, particularly from growth in hotel and package sales in Brazil and Mexico. The company’s air business also saw a 25% increase to $75 million for the quarter while its B2B and white-label operations saw expansions of 63% and 69% respectively.