Travel groups Expedia and Booking Holdings said there was strong demand for accommodations in the first three months of 2023, with both companies notching record sales figures.
Expedia reported $2.7bn in revenues, its highest for a first quarter and an 18 per cent improvement on the comparable period in 2022.
Booking said its gross bookings — the total value of services booked — reached $39.4bn, a 44 per cent year-on-year increase.
Both companies slightly topped analysts’ revenue expectations while underperforming on earnings per share.
Expedia said: “The first quarter saw strong travel demand driven by increasing international travel, major city travel, and the reopening in Asia.”
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