Market Overview Announces Appointment of New Board Chairman

Share:, Corp. (NYSE:DESP), ("Despegar" or the "Company"), the
leading online travel company in Latin America, today announced that Mr.
Jason Lenga tendered his resignation as Board Chairman to the Company's
Board Directors effective March 6, 2019. Mr. Lenga's resignation, a
Tiger Global appointee, is reflective of the fund's significant
reduction in its holdings of Despegar. Simultaneously, Mr. Nilesh
Lakhani, a current Director and Member of the Audit Committee has been
appointed Board Chairman of the Company. With Mr. Lenga's resignation,
the Board is now comprised of 6 members.

Mr. Lakhani has served as an independent director of Despegar since
2012. He has over 25 years of executive leadership experience with
growth companies in the US and emerging markets. He was an Operating
Partner at Lumia Capital LLC, an emerging markets focused technology
venture fund from 2015 to 2018. He previously held key management
positions with companies in the technology, media and financial services
industries, including CFO roles at oDesk Corporation, Yandex (Nasdaq: YNDX), and CTC Media (NASDAQ:CTCM). Prior to that, Mr. Lakhani was Vice
President of Global Operations at Electronic Arts. He also served as
Senior Vice President with Transamerica Corporation from 1991 to 1997
and worked with GE Capital from 1984 to 1991. Mr. Lakhani received a
Bachelor of Arts in Economics from the University of Manchester and a
Master of Business Administration from the University of San Francisco.

Commenting on the Board Chairman changes, Damian Scokin, CEO stated,
"We are extremely pleased to have Nilesh assume the Board Chairman role.

As a member of our Board since 2012, Nilesh has extensive knowledge
of our company. He also brings to the Company an extensive background in
technology as well as emerging markets.
We look forward to
working with him in his new role.
I would also like to thank
Jason for his years of service to our company, which included taking us
through our global initial public offering, and the valuable insight he
has provided over the years."

"It has been an honor to serve as Board Chairman of Despegar. I
believe the Company has a world class management team and board of
directors and that the best is yet to come."
commented Jason


Despegar is the leading online travel company in Latin America. With
over two decades of business experience and operating in 20 countries in
the region, Despegar accompanies Latin American travelers from the
moment they dream of taking a trip until they share their memories of
that trip. Thanks to the strong commitment to technological development
and customer service, Despegar offers a tailor-made experience to more
than 18 million customers.

Despegar's websites and leading mobile apps, offer products from over
300 airlines, more than 520,000 accommodation options, as well as
approximately 1,100 car rental agencies and approximately 240
destination services suppliers with more than 8,700 activities
throughout Latin America. The Company owns and operates two
well-recognized brands, Despegar, its global brand, and Decolar, its
Brazilian brand. Despegar is traded on the New York Stock Exchange
(NYSE:DESP). For more information, please visit

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