Expedia reports record high lodging bookings for Q1

The company announced impressive Q1 results, with a 20% YoY increase in gross bookings and a 23% increase in booked room nights

May 5, 2023

The total gross bookings for the quarter stood at $29.4 billion, with lodging bookings hitting a record high of $21.1 billion. This remarkable increase in bookings is attributed to the strong travel demand that has remained resilient, despite macro headwinds.

Key takeaways

  • The B2B segment of Expedia has outperformed its retail side, driving margins higher and contributing significantly to the overall growth;
  • Expedia is still heavily spending on marketing to drive demand, which has led to less efficiency on a booked room night basis compared to booked gross profit;
  • The company is seeing big cities coming back, due to hybrid work, shortening the length of their stays and shifting away from month-long COVID-era beach or mountain vacations.

Get the full story at Expedia and Reuters

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