eDreams ODIGEO (eDO), one of Europe’s largest online travel companies, has announced that it is expanding its network of Tech Hubs with the launch of a new innovation centre in Milan.
The announcement comes as the company continues to grow its pan European development centres, notably in Porto, Barcelona, Madrid, Palma de Mallorca, Alicante and Budapest. The business, named one of the ‘Best Companies to Work For in 2022’ by Forbes magazine, added 250 new team members to its global tech workforce in 2022 alone to support the growth of its subscription service, Prime, and is on track to reach 7.25 million Prime members by 2025.
eDreams ODIGEO continues to grow its profitability and its market position as the innovator in the travel industry through its subscription programme, similar to how Netflix, Spotify or CostCo have done in their respective industries. The company’s recent quarterly results show its progress in this endeavour, with Cash EBITDA up 78% compared to the same period last year. The business is on track to meet its guidance of reaching €180 million in Cash EBITDA and 7.25 million Prime members by fiscal year 2025. Since the beginning of the pandemic, the business has consistently outperformed the wider industry, with its trading exceeding pre-COVID levels by +48% in the first half of the fiscal year 2022.