India’s travel landscape is evolving rapidly, reflecting the country’s growing economic clout and the increasing confidence of its travelers. The first half of 2024 saw a significant surge in both outbound and inbound tourism, with Trevolution Group reporting 46% market growth compared to the same period last year. This uptick is not just a rebound from the pandemic but an indicator of the deeper shifts in Indian travel habits.
Expedia's Growth Topped Rivals', but Notes 'Softening' Demand
08.08.2024 - 22:11 / skift.com / Dennis Schaal
Like others in the travel industry, Expedia Group saw a “challenging” global economy and “softening” travel demand in July.
In its second-quarter earnings announcement Thursday, the company said it would lower its outlook.
“Our second quarter results came in at the high end of our expectations, with gross bookings and revenue growing 6%,” said CEO Ariane Gorin in her first earnings announcement heading the company. “We’re pleased with our momentum and the sequential improvement in our consumer brands. However, in July, we have seen a more challenging macro environment and a softening in travel demand. We are therefore adjusting our expectations for the rest of the year.”
But one standout element of the announcement was that room nights at flagship brand Expedia.com jumped 20%. That compared to 9% growth in the second quarter of 2023.
Overall at Expedia Group, including Expedia.com, Hotels.com, Vrbo and other brands, booked room nights grew 10% to 98.9 million. That was faster than Airbnb’s 9% (nights and experiences booked) and Booking Holdings’ at 7%.
The company’s 10% room night growth was the fastest in a year-a-half.
“Total room nights grew at the fastest rate since the first quarter of 2023,” Expedia Group said in its second quarter earnings announcement.
Net income was flat at $386 million compared to the second quarter of 2023.
The website maxtravelz.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
Top Autors
Popular Topics
insider.com
13.08.2024 / 22:02
I traveled from New York City to Disney World and back in 24 hours. It was exhausting, but I saved hundreds of dollars.
I love all things Disney, but I haven't been able to justify spending the money visiting Disney World as an adult. The last time I went was in 2013 on a high school trip, and admittedly, I didn't pay for that.
insider.com
13.08.2024 / 15:06
I quit my job at Meta and traveled to Bali to find myself — but 2 months later, I moved back into my parents' house more confused than ever.
This as-told-to essay is based on a conversation with Simone Landis, a 29-year-old from San Francisco who quit her job at Meta. It's been edited for length and clarity.
skift.com
09.08.2024 / 16:34
Demand for Corporate Retreats Is Up
Plex, a streaming company with a staff that’s fully remote, hosts a yearly retreat for more than 130 employees in locations from Mykonos to Tuscany to team-build and provide bonding opportunities.
skift.com
09.08.2024 / 13:30
Expedia's Win, Delta's Pushback and Tripadvisor's Challenge
Good morning from Skift. It’s Friday, August 9, 2024, and now here’s what you need to know about the business of travel today.
thepointsguy.com
09.08.2024 / 00:00
Hilton, Airbnb brace for softening travel demand. Here’s how to benefit
Lodging brands like Hilton and Airbnb aren't exactly hurting for cash these days, but there are signs it's about to be lights out on the post-coronavirus pandemic boom of sky-high rates and an unlimited pool of people willing to pay.
skift.com
08.08.2024 / 22:35
Expedia Delays Rollout of One Key Loyalty Program
Expedia Group is “pausing” the rollout of its new One Key loyalty program beyond the U.S. and the UK in part because of the adverse impact on its Hotels.com brand.
insider.com
08.08.2024 / 21:06
I stopped at a Mediterranean port where few cruise ships dock. The hidden gem wowed me without the crowds.
I've stopped in 10 cruise ports, from the US to the Caribbean to the Mediterranean. I've even been to some of the busiest cruise ports in the world, such as Barcelona and Cozumel, Mexico, where I stood in long lines and shuffled through crowds to find my tour guides.
thepointsguy.com
07.08.2024 / 13:54
Hyatt leaders tout new partnerships amid massive loyalty program growth
Travelers flocking to the World of Hyatt loyalty program increasingly have new ways to earn and use points — and the Chicago-based hotel giant isn't done adding more variety to its offering.
skift.com
07.08.2024 / 12:54
Airbnb's Slow Growth, IHG’s Good Growth and Travel’s Recession Worries
Good morning from Skift. It’s Wednesday, August 7, and now here’s what you need to know about the business of travel today.
skift.com
07.08.2024 / 00:18
The Airbnb Growth Juggernaut Just Slowed
A year ago, in the second quarter of 2023, Airbnb could boast 18% revenue growth. Its gross booking value climbed 13%, and room nights and experiences jumped 11%.
breakingtravelnews.com
05.08.2024 / 07:55
Singapore Changi Airport Reveals Positive H1 Results, With More Growth Projected Through 2024
Singapore’s Changi Airport – the world’s most awarded airport with 680 awards to its name – has today released new figures for the first half of 2024, showcasing sustained post-Covid recovery. Changi Airport registered 33 million passenger movements from January to June 2024, representing 99.4% recovery in passenger numbers compared to the same period in 2019, and exceeding 2023 figures at 120%.