Booking Holdings beats Q4 profit estimates on Asia demand recovery

The OTA said room night bookings in the United States was flat in the fourth quarter, compared to Asia growth in the mid-teens

Feb 23, 2024

Booking Holdings beat analysts' expectations for fourth-quarter profit on Thursday, driven by a strong recovery in Asian markets. Travel companies are seeing a return of travel demand in Asia, especially in China, but demand in the United States has been returning to normal levels after a post-pandemic spike from "revenge travel".

Key takeaways

  • Booking said it expects first-quarter room night growth to be between 4% and 6% and revenue growth to be between 11% and 13%;
  • "Back to the pre-COVID days of super conservative on guidance, which combined with the tough first-quarter comp means, the first-quarter guide looks weak," Reburn Atlantic analyst Alex Brignall said.

Get the full story at Reuters and Booking Holdings

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