Online Travel Update: Expedia Group and Booking Holdings Second Quarter Results Show Slight Upturn in Bookings | Foster Garvey PC

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Expedia Group
(“Expedia Group Second Quarter Revenue Exceeds $ 2 Billion from US Hotel and Vacation Rental Bookings,” Aug 6, 2021 via Phocus Wire) (“Expedia Awaits Return international travel to consolidate market share gains ”, 5 August 2021 via Skift Travel News) (subscription may be required)

  • Second-quarter revenue increased to $ 2.1 billion (a 270% increase from the same period last year, but still down 33% from 2019)
  • Leisure travel continued to rebound in the second quarter, led by North America and in particular the United States.
  • Expedia continues to see smoothness in international, corporate and “big city” travel.
  • Expedia is already seeing the negative effects of the Delta variant with a slowdown in production in July compared to June.
  • Expedia has started to ramp up its sales and marketing efforts, with total second-quarter sales and marketing spend ($ 1.2 billion) surpassing the same period last year (2020) spend by 320%.
  • Expedia’s focus on its core brands continues with eight businesses closed or sold since early 2020. In the last quarter, Expedia formally accepted American Express’s offer to buy Egencia, which is now expected to close. by the end of this year (2021).

Reserve assets
(“Booking Holdings hits $ 22 billion in bookings as last quarter recovers,Aug 4, 2021 via Phocus Wire)

  • Second quarter revenue reached $ 2.2 billion (an increase of around 350% from the first quarter of 2020, but still down 44% from 2019)
  • Like its main competitor, Booking also started to ramp up its sales and marketing efforts in the last quarter, with sales and marketing spend totaling more than twice the amount in the previous quarter.
  • The continued rebound in bookings performance was again led by increases in the United States (the top performing major country), although improving domestic and international bookings in Europe contributed to this increase. Like its competitor, Booking experienced a slight decline in July (compared to June), which Booking attributes to the emerging variant Delta.
  • Sixty percent of the total nights booked through Booking during the quarter were through mobile channels.
  • At the end of June, Booking.com was reporting around 28 million accommodation listings, with nearly a quarter of those listings constituting alternative accommodations.
  • Booking.com’s easy payment platform added several (unnamed) “big chains” in the second quarter. In the second quarter, almost 24% of gross bookings were processed through the payment platform (which only reflects a slight increase compared to the percentage in the first quarter (22%)).
  • CEO Glenn Fogel offered some details on the discount flash selling effort recently reported by Booking (see article).

Other news:

Booking Holdings considers connected travel strategy essential for post-crisis growth
August 6, 2021 via Skift (subscription may be required)
Not all travelers around the world may be taken by Booking Holdings. The Connecticut-based conglomerate, worth $ 86 billion, defines itself as “the world’s leading provider of online travel and related services.” But the company still has work to do on its machines to take the customers it has and sell them with multiple products – known as connected travel.

Tripadvisor Reaches $ 235 Million in Revenue and Exceeds Internal Expectations
Aug 6, 2021 via Phocus Wire
Tripadvisor attributes a growing number of vaccinations and reopenings in many markets around the world to a significant increase in revenue in the second quarter of 2021.

Tripadvisor refines its subscription travel bet
Aug 6, 2021 via Skift Travel News (subscription may be required)
Tripadvisor spent the pandemic changing its tone, metaphorically speaking. For years, the Massachusetts-based company led by co-founder and CEO Stephen Kaufer has praised a model where consumers could read reviews of travel services, then click to book or book instantly. via its site and its application. Now the $ 5 billion company has stopped trying to attract the largest possible audience and instead wooing its most loyal fans by making them cough up money for exclusive travel discounts and perks.

Google launches attraction tickets worldwide on mobile
July 30, 2021 via Skift (subscription may be required)
Google has taken a major step forward in the tours and activities space and rolled out a ticketing function for local attractions around the world on mobile devices.

Southwestern lawsuit alleges Skiplagged and Kiwi collude to cheat flyers
August 3, 2021 via Skift (subscription may be required)
Citing multiple flight delays due to the sale of “hidden city tickets,” Southwest Airlines filed a federal lawsuit against New York-based Skiplagged and alleged it was working “in concert” with the travel agency. Czech online travel Kiwi.com to deceive the public and illegally use the airline’s fare information.

Vietnamese tech conglomerate and OTA operator raises $ 250 million
Aug 2, 2021 via Phocus Wire
VNLife, a Vietnam-based tech company that operates in travel, banking, retail and more, has raised $ 250 million in Series B funding. The round is led by General Atlantic and Dragoneer Investment Group, with the participation of PayPal Ventures, EDBI and existing investors GIC and SoftBank Vision Fund 1.


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