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Expedia reports 64% rise in bookings
On-line travel agency Expedia has revealed gross bookings for the quarter ending March 31 were up 64% on the previous year, and total revenue was up 103%.
Gross bookings for the quarter ending March 31 were worth $1.1 billion, a rise of 64% on the previous year, and total revenue for the quarter ending March 31 was $116 million, an increase of 103% on the previous 12 months.
Vacation packages gross bookings rose 320% to $164 million.
Richard Barton, president and CEO of Expedia said: “These numbers are the result of consumers and suppliers embracing the travel marketplace we have built at Expedia and the success of our technology-driven and diversified business plan.
“In particular, this quarter we saw our dynamic packaging business really hit its stride. We sold $164 million in Expedia Vacations as our Expert Searching and Pricing platform enabled our travellers to custom-build their trips, choose from a broad selection of quality brands and get great values.”
Gregory S. Stanger, senior vice president and CFO said: “This financial performance reflects record results across all significant line items. In addition, we continued to diversify our business model, with merchant revenues exceeding agency revenues for the first time.”
Read the full results.
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