Groupon has started offering the first live deals on Groupon Getaways, with its new partner Expedia. From all indications, Groupon Getaways looks like it is going to swamp all the existing travel-deals providers.

Groupon Getaways

The deals follow the Groupon model, in which customers have a limited time to buy a discount voucher good for future travel. But instead of the usual daily-deal format, these travel deals are being kept open for six days.

Deals currently on offer include a 50 percent discount on a $1,000 vacation package in Tahiti, and a whole bunch of hotel deals for different destinations offering discounts of around 50 percent or more. The initial response in the first 24 hours seems enthusiastic, with hundreds of buyers for each offer.

As of now, an $89 deal (value $199) for the Palms Casino Resort in Las Vegas has 820 buyers. A $79 deal (value $169) for the Pointe Hotel in Cavendish, Vermont, has attracted 428 buyers.

Once a customer purchases a voucher, there’s no pressure to book immediately, as they can redeem anytime within the one-year expiration period.

“This site combines Expedia’s relationships and Groupon’s expertise in delivering unbeatable value to curate unforgettable experiences,” said Aaron Cooper, senior vice president of new business, Groupon. “Groupon Getaways celebrates the fun and adventure of travel. We’ll introduce subscribers to interesting places at prices they won’t expect.”

Groupon and Expedia are late entrants to a crowded market filled with travel-specific players like the Gilt Groupe’s Jetsetter and Travelzoo’s Local Deals, and competitors like LivingSocial Escapes and Overstock Vacations.

But Groupon Getaways can still leverage the two companies’ massive reach. Groupon brings more than 50 million subscribers to the table. On the supplier side, it can offer to connect more than 135,000 hotels listed on Expedia to this huge 50 million member bloc. Looking at these numbers, Groupon Getaways could easily swamp the travel0-deals sector due to its sheer size and reach.

Groupon, which launched in November 2008, has since expanded to 43 countries. Groupon grew an astounding 2,241 percent in 2010, and launched in 500 new markets.

It doesn’t have much to show in the way of profits, but the company did save consumers more than $1.5 billion in 2010 alone. Earlier this year, Groupon raised $950 million in financing and filed for a $750 million IPO.

With all this cash in hand, its expansion into newer markets will be even more meteoric, and Expedia-listed hotels are going to find it hard to resist the lure of a Groupon Getaway.

Photo – Groupon Getaways snapshot

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