Expedia releases first quarter 2017 results

Expedia releases first quarter 2017 results

Global travel giant Expedia Inc has seen a 15% rise in revenue in the first quarter of 2017, helped by a 30% increase by HomeAway.

Expedia made a total of $2.2billion driven by a 14% growth in gross bookings, including its holiday lettings site HomeAway, which delivered $185 million in revenue.

Room nights stayed, including HomeAway, increased 12% year-over-year. Room nights booked, including HomeAway, increased 18% year-over-year.

Hotel comparison site Trivago reached $286 million in revenue, an increase of 62% year-over-year and Egencia gross bookings reached $1.8 billion, an increase of 9% year-over-year. Egencia revenue increased 12% year-over-year to $123 million.

Chief executive Dara Khosrowshahi said: “Expedia is off to a great start this year. The core OTA segment continues to gain momentum with the global brand delivering healthy room night growth.”

He added that HomeAway had adopted Expedia’s test and learn culture since it had was acquired in 2015 for $3.9 billion.

“The HomeAway transition continues to go well,” Khosrowshahi added. “We are investing in growing our team of top-tier technology talent and we’ve shifted to a truly test and learn culture to make significant improvements in user, home owner and property manager experience.”

Expedia now has 1.4 billion listings across its network.

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