Ave Maria Focused Fund's Chadd Garcia talks eDreams, travel subscription platform in Europe $EDR.MC

Chadd Garcia, Portfolio Manager and Senior Research Analyst at Schwartz Investment Counsel Inc. - Ave Maria Focused Fund, joins the podcast for his second appearance to share his thesis on eDreams ODIEGO (MSE - Madrid Stock Exchange: EDR), travel subscription platform and one of the largest e-commerce businesses in Europe. Chapters: [0:00] Introduction + Episode sponsor: Stream by Alphasense [1:43] Overview of eDreams ODIGEO $EDR.MC [9:27] eDreams' overall vision and current valuation [13:34] Prime model and its potential growth in European markets [17:30] How eDreams is different from TripAdvisor / why eDreams the one to crack the membership model [23:13] Costco comparison [25:24] Churn rate / U.S. investor perspective on eDreams / changing disclosures [34:07] Competitive landscape, in particular, response from Booking as eDreams grows [38:45] Hotels initiative / breaking into the U.S. market [43:13] Capital allocation strategy [47:20] Final thoughts on eDreams: risks to consider / headwinds / Chadd's personal experience using eDreams platform Today's episode is sponsored by: Stream by Alphasense Are traditional expert calls in the investment world becoming obsolete? According to Stream, they are, and you can access primary research easily and efficiently through their platform. With Stream, you'll have the right insights at your fingertips to make the best investment decisions. They offer a vast library of over 26,000 expert transcripts, powered by AI search technology. Plus, they provide competitive rates on expert call services, and you can even have an experienced buy-side analyst conduct the calls for you. But that's not all. Stream also provides the ability to engage with experts 1-on-1 and get your calls transcribed free-of-charge—all for 40% less than you would pay for 20 calls in a traditional expert network model. So, if you're looking to optimize your research process and increase ROI on investment research spend, Stream has the solution for you. Head over to their website at streamrg.com to learn more. Thanks for listening, and we'll catch you next time. For more information: https://www.streamrg.com/