financial-recovery-continues-at-expedia

Financial recovery continues at Expedia

The Expedia Group has reported a net loss of $301 million for the three months to June.

The figure is, however, a substantial improvement on the loss of $753 million reported in the same quarter of 2020.

Expedia reported a $132 million operating loss for the quarter, took $2.1 billion in revenue and saw gross bookings worth $21 billion.

The half-year operating loss was $501 million, reduced from $2.1 billion in 2020, but this still left a $907 million net loss for the six months to June.

Expedia Group chief executive, Peter Kern, argued: “The second quarter saw continued improvement in many global travel segments, with North America in particular showing strength.”

Releasing the financial results for the period, he added: “Strong vacation rental performance and improved conventional lodging.”

However, this was “offset by continued softness in international travel, corporate travel and consumer interest in smaller markets and lower-end accommodation”.

“The road to full travel recovery remains bumpy until more of the world is vaccinated,” he concluded.

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