International bookings rise for Expedia
Expedia Inc has recorded a marginal rise in net profit in the last quarter despite seeing bookings increase by 14%.
Profit of $96.1 million came on a 15% rise in year-on-year revenue to almost $690 million for the period ending June 30.
The revenue rise was mainly driven by increased worldwide merchant hotel revenue and advertising and media revenue, partially offset by a decline in North American air revenue, the US company said.
Europe saw the greatest rise in revenue at 30% for the three months followed by North America at 11%. Other revenue increased by 28%.
But Expedia reported a 7% drop in worldwide air revenue for the period due to a 19% decline in revenue per ticket. This was partially offset by a 14% rise in the number of tickets sold.
“The decrease in revenue per ticket primarily reflects decreased compensation from air carriers and GDS providers,” the company said.
Gross bookings from international markets outside North America, including the UK, amounted to $1.51 billion or 29% of worldwide bookings, up from 24% a year earlier.
CEO and president Dara Khosrowshahi said the revenue growth rate was the highest in nearly two years.
by Phil Davies
Phil Davies
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