COLOMBIA · TRAVEL
Key Facts
- The country Colombia is Despegar’s star market, growing 40% a year against about 20% across Latin America and making up roughly a tenth of the business, while the company itself was founded in Argentina in 1999.
- Why it matters Despegar, a major Latin American online travel agency, now pays hotels weeks early for future bookings, a cash tool that can shape room supply for US visitors.
- Why now The company’s finance chief described the service on 31 October 2026, four months after launch and as its October to March cycle is under way.
- What happened Despegar now pays a hotel within 48 hours for bookings that are confirmed but not yet stayed, instead of the usual wait of 30 to 45 days.
- The numbers Advances reached US$1 million in the third month and US$3 million today, with a goal of US$30 million to US$50 million by March 2027.
- What it means for you Travellers who book Latin American hotels see no change in how they book or pay, but properties may use the cash to renovate before busy months.
- Still open The price hotels pay for an advance and the source of the money have not been disclosed.
- Power Index Colombia ranks 6th of 14 in The Rio Times Latin America Power Index, with 51.9 points (October 2026 edition).
In Plain English
Prosus is a Dutch technology investor listed in Amsterdam and Johannesburg that also owns the Brazilian food-delivery platform iFood and the events platform Sympla. Despegar became one of its Latin American businesses on 15 May 2025.
Gross bookings are the total value of travel sold through a platform, while revenue is the part Despegar keeps. EBITDA is earnings before interest, taxes, depreciation and amortization, and pro forma means the figures were adjusted in the way the slides describe.
Despegar, the Latin American online travel agency that Dutch technology group Prosus bought on 15 May 2025, has advanced US$3 million to hotels and wants that to reach between US$30 million and US$50 million by March 2027. Finance chief Renan Pinto gave the figures to Colombia’s business daily La República in an interview published on 31 October 2026.
The service, called Despegar Pago, pays a hotel within 48 hours for bookings that are confirmed but not yet stayed, instead of the usual wait of 30 to 45 days. For US travellers who book Latin American hotels, the change matters because properties can spend the cash on renovations and equipment before busy months, and Colombia is what Pinto calls the company’s star market.
How Despegar Pago Works
A hotel logs into the Despegar portal, sees all its confirmed future reservations and picks the ones to advance with two clicks. Within 48 hours the money reaches the bank account the hotel names, Pinto said, instead of arriving 30 or 45 days later.
Pinto said the price is set hotel by hotel, based on each property’s cash flow and seasonality, so two hotels can pay different rates. No rate, fee or discount was disclosed in the interview.
Pinto gave the example of a hotel that expects a full high season and needs to renovate, repair its air conditioning or buy beds. Despegar can advance those payments when it already holds a large volume of reservations for the property, he said.
Pinto said the product grew out of a request to his team to talk to hotels and understand their financial needs, because Despegar increasingly sees hotels as customers. Despegar Pago launched about four months before the interview.
The US$30 Million Goal
Advances reached US$1 million in the third month of Despegar Pago and stood at US$3 million at the time of the interview, Pinto said. For the cycle that began in October and ends in March, the company wants between US$30 million and US$50 million in advances by March 2027.
Pinto said the service is available in every country where Despegar operates, including Colombia, Mexico, Chile, Ecuador, Peru, Argentina and Brazil. Argentina is the largest market and was the first where it launched, while Chile has the highest share of platform hotels using it.
Who Owns Despegar Today
Prosus announced the purchase on 23 December 2024 at US$19.50 a share and completed it on 15 May 2025. Its announcement put the deal at US$1.7 billion and said Despegar was founded in Argentina in 1999 and listed on the New York Stock Exchange in 2017.
A Prosus investor session dated 23 September 2026 carried a Despegar presentation with pro forma gross bookings of US$6.8 billion, revenue of US$846 million, EBITDA of US$129 million and free cash flow of US$152 million for the year it labels FY26. The slides exclude Koin and a hyperinflation adjustment from those figures.
That compares with full-year 2023 figures of US$5.3 billion in gross bookings, US$706 million in revenue and US$116 million in EBITDA, as given in the Prosus announcement of 2024. The comparison sets a reported year against a pro forma one, so it shows direction rather than an exact growth rate.
Why Hotels Need the Cash
The Prosus presentation says the 10 largest hotel chains hold only 17% of the Latin American market, against 74% in the United States. It also says 51% of travel in the region is booked online, against 80% in the United States.
A market with many small hotel suppliers helps explain why a platform that already sees their bookings can offer early cash. The presentation also lists more than 9,000 agency partners and 12.2 million transactions for FY26, which shows the scale of demand the platform sees.
Colombia and the Wider Business
Pinto said Despegar grows about 20% a year across Latin America and 40% in Colombia, which he called the company’s star geography and about 10% of the business. A card launched with Banco de Bogotá a little over a month before the interview already has more than 10,000 users, he said.
Despegar’s business serving other travel agencies is growing 40% to 50% a year, Pinto said, and its AI assistant Sofía touches about 8% of transactions. In Chile the company also launched Hostly, a tool that helps hotels sell more and cut costs through recommendations.
What It Means for You
The product is built for hotels, and the interview described no change to how travellers book or pay. Any benefit for guests would come indirectly, through properties that have cash for renovations and equipment before busy months, a theme also visible in Colombia’s vacation rental boom.
Despegar shares that traded in New York under the ticker DESP were bought for US$19.50 each in cash when Prosus completed the deal, which makes Despegar part of Prosus rather than a stand-alone investment. Prosus, which is listed in Amsterdam and Johannesburg, says its Latin American businesses serve more than 100 million customers across food delivery, classifieds, travel, experiences and fintech.
What Is Not Known
Despegar has not published the price hotels pay for an advance, and Pinto said only that it differs from hotel to hotel. It is also not stated whether the money comes from Despegar’s own cash, from Prosus or from outside lenders.
The figures come from an interview with one executive, and no separate company release or regulatory filing on Despegar Pago was available to confirm them. The goal of US$30 million to US$50 million by March 2027 is a management target, not a result, and Pinto’s description of it as multiplying the business by 30 does not match a rise from US$3 million, so the base he used is unclear.
Frequently Asked Questions
What is Despegar Pago?
Despegar Pago is a service that pays hotels within 48 hours for confirmed future bookings instead of the usual wait of 30 to 45 days. Despegar launched it about four months before an interview published on 31 October 2026.
How much has Despegar advanced to hotels?
Finance chief Renan Pinto said advances reached US$1 million in the third month and US$3 million at the time of the interview. The company wants between US$30 million and US$50 million by March 2027.
Who owns Despegar now?
Dutch technology group Prosus completed its purchase of Despegar on 15 May 2025 at US$19.50 a share. Despegar was founded in Argentina in 1999 and had been listed on the New York Stock Exchange since 2017.
Where can hotels use Despegar Pago?
Pinto said the service runs in every country where Despegar operates, including Colombia, Mexico, Chile, Ecuador, Peru, Argentina and Brazil. Argentina is the largest market and Chile has the highest share of hotels using it.
Does Despegar Pago change prices for travellers?
The interview described no change to what travellers pay or how they book. The product serves hotels, and its price to them is set hotel by hotel and was not disclosed.
Sources: La República, interview with Despegar finance chief Renan Pinto, 31 October 2026; Prosus, Prosus and Despegar complete acquisition, 15 May 2025; Prosus, announcement of the Despegar purchase, 23 December 2024; Prosus, Despegar Deep Dive presentation, 23 September 2026; Prosus, Despegar acquisition page, accessed 31 October 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief