Expedia gives optimistic outlook for travel bounceback in 2023
Lodging gross bookings grew 20% in January compared with 2019, the OTA said during its Q4 earning call
The Seattle-based online travel agency has made itself more nimble during the pandemic by restructuring its operations. It’s been building out a business-to-business segment and a rewards program that works across all its brands. Most of that heavy lifting is done now and will benefit the company this year, along with strong travel demand, the company said.
Key takeaways
- Though sales in Q4 increased 15% to $2.62 billion last quarter, that missed the average analyst’s estimate of $2.7 billion;
- Expedia reported stayed room nights of 74.6 million in the fourth quarter, up 19% from the same time last year. Analysts were looking for 75.4 million, or a 20% increase;
- Last January, travelers were still shrugging off the omicron variant and vacation rentals were popular. Now the mix between rentals and hotels has normalized.
Get the full story at Bloomberg (subscription only) and Yahoo! Finance