Pioneering technology expected to revolutionize the travel market

SOFIA significantly enhances the customer experience, setting a new standard for travel planning

Despegar.com, Corp. (NYSE: DESP) (“Despegar” or the “Company”), Latin America’s leading travel technology company, today announced the launch of SOFIA , the region’s first Generative AI Travel Assistant, marking a significant enhancement to the Company’s customer value proposition. This pioneering innovation allows users to enjoy rapid, as well as more personalized and convenient travel planning through state-of-the-art technology.

Powered by generative artificial intelligence, Despegar's SOFIA is multimodal and fully supports travelers from the initial conception of their travel idea, through the planning and coordination stages, until their return. Interacting with SOFIA is simple, intuitive, and flexible, accommodating oral, written, or image-based communication according to a traveler’s preferences, and is available at any time and day.

Behind this advancement is Despegar's technology prowess, strong culture of innovation, and deep knowledge of the travel market. SOFIA assists customers at every step of travel planning, from searches to bookings to payments, to create the best possible travel experience.

Gonzalo Estebarena, Chief Technology Officer of Despegar, said: "Our AI Travel Agent is expected to revolutionize travel. SOFIA uniquely supports Despegar’s customers throughout the entire travel planning process, from inspiring destination ideas to visualizing various travel options, and it does this through their preferred mode of communication. Unlike traditional e-commerce platforms that require pre-determined interactions with a customer, SOFIA can dynamically and nearly instantaneously create travel options based on the customer's requests. We are proud to lead with a technology that elevates the user experience to an entirely new level, representing a paradigm shift in the travel industry."

Interacting with SOFIA is remarkably simple and straightforward. For example, a user expressing a desire to go surfing prompts SOFIA to suggest potential destinations, allowing the user to engage through chat, voice, a displayed catalog of travel options, or any combination thereof. Going beyond traditional chatbot functionality, SOFIA provides a genuinely and naturally interactive digital assisted travel planning experience. SOFIA's dynamic conversation style, adaptive responses, and empathetic nature, coupled with Despegar's extensive knowledge of over 30 million customers and their preferences, clearly distinguish the digital assistant from conventional online platforms and could facilitate the secular transition from offline to online travel booking. In addition, SOFIA offers a self-assisted purchasing experience and facilitates contact with Despegar representatives for sales or after-sales inquiries when desired. The tool is now available across Latin America and the Company plans to incorporate additional features and functionality over time.

Mr. Estebarena added: “The integration of SOFIA and other AI technologies into our omnichannel platform is enabling us to provide scalable, personalized products and services that greatly enhance the customer experience, while also improving our company’s operational efficiency.”

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We base these forward-looking statements on our current beliefs, expectations and projections about future events and trends affecting our business and our market. Many important factors could cause our actual results to differ substantially from those anticipated in our forward-looking statements. Forward-looking statements are not guarantees of future performance. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or to revise any forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. The words “believe,” “may,” “should,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “will,” “expect” and similar words are intended to identify forward-looking statements. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, capital expenditures, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects of competition. Considering these limitations, you should not make any investment decision in reliance on forward-looking statements contained in this press release.

About Despegar.com

Despegar is the leading travel technology company in Latin America. For over two decades, it has revolutionized the tourism industry in the region through technology. With its continuous commitment to the development of the sector, Despegar today is comprised of a consolidated group that includes Despegar, Decolar, Best Day, Viajes Falabella, Viajanet Stays and Koin, and has become one of the largest travel companies in Latin America. Despegar operates in 20 countries in the region, accompanying Latin Americans from the moment they dream of traveling until they share their memories. With the purpose of improving people's lives and transforming the shopping experience, Despegar has developed alternative payment and financing methods, democratizing the access to consumption and bringing Latin Americans closer to their next travel experience. Despegar’s common shares are traded on the New York Stock Exchange (NYSE: DESP). For more information, visit Despegar’s Investor Relations website https://investor.despegar.com/ .

View source version on businesswire.com: https://www.businesswire.com/news/home/20240304920931/en/