Online Travel Update: Online Booking Platforms Expedia Group and Booking Holdings Release Q1 Earnings Report; and Groups Are Latest Target for Alternative Accommodations | Foster Garvey PC

 Online Travel Update: Online Booking Platforms Expedia Group and Booking Holdings Release Q1 Earnings Report; and Groups Are Latest Target for Alternative Accommodations | Foster Garvey PC


Booking Updates
(“Booking Holdings Reports Quarterly Record for Gross Bookings of $ 27 Billion,” May 4, 2022 via Phocus Wire)

Fortunately, Booking Holdings also did not hold their major partner conference last week. Here are my excerpts from last week’s earnings release:

  • Booking Holdings saw a record $ 27 billion in gross bookings in the first quarter. Room night production continues to drop at 2019 levels, but Booking quickly closes that gap. In April, Booking (like Expedia) saw nightly room production actually exceed the same month comparison in 2019.
  • Booking continues to grow in the “Connected Travel” vision, including continued growth in mobile app usage (40 per cent of total room nights are now booked on mobile app), continued diversification of its product offerings (alternative accommodations accounted for 31 percent of the room. night in the first quarter, with a major boost to growth in this North American vertical planned for this year), continues to grow its air offerings and continues to roll out of its payment platform. Interestingly, Booking did not show much improvement in adoption of its payment platform, with only 34 percent of Booking.com bookings processed on the new platform (adoption rates on the new platform have slowed. as reported 2021 3Q and 4Q numbers are estimated to be estimated.30 per cent).

Groups Are The Latest Target for Alternative Accommodation
(“Skift Future of Lodging Forum Preview: Marriott Homes & Villas to Target Meetings and Retreats,” May 5, 2022 via Skift) (subscription may be required)

When asked about the future of group travel, I have long pointed to alternative accommodations and the more sophisticated companies that manage and distribute these accommodations. As we continue to progress into a worker who wants to spend less time in a traditional office environment, the demand for regular small group meetings or conferences will continue to grow as well. need for unique shelters to support them. As I said a long time ago, alternative accommodations can be uniquely located for this new group event. Marriott apparently agreed.

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Other news:

Wise Time Heats Up With $ 12 Million Round, Plans to Expand Travel Guarantee Tools
May 4, 2022 via Phocus Wire
Climate technology startup Sensible Weather got another huge investment of $ 12 million, just five months after the first phase. Series A was led by Infinity Ventures, with participation from Certares Ventures and former sponsors Wonder Ventures and Group1001.

Tripadvisor has named Media Exec Matt Goldberg as CEO Starting July 1st
May 4, 2022 via Phocus Wire
Matt Goldberg, a veteran media executive who served as CEO of Lonely Planet from 2009 to 2013, will become CEO of Tripadvisor beginning July 1, replacing co-founder Steve Kaufer who announced in November that he would step down. .

One in Five Airbnb Remains More Than 28 Days, Revenue Reaches $ 1.5 Billion for Q1 2022
May 3, 2022 via Phocus Wire
Airbnb revenue hit $ 1.5 billion for the January-March period for the first time in the company’s history. The U.S.-based home-sharing and alternative accommodation giant saw revenue increase 70 percent year-on-year-80 percent higher than the corresponding quarter in 2019 ($ 839 million), before it listed public markets.

The Next Big Change in Airbnb: Search
May 3, 2022 by Skift (subscription may be required)
Airbnb announced a big quarter in revenue on Tuesday and as part of that, also announced a big change coming to its product next week: a complete redesign of how search engines man its service.

New Hotel Booking Platform Allows Guests to Offset Carbon Emissions at Checkout
May 2, 2022 via Phocus Wire
Wayaj – one of PhocusWire’s Hot 25 Startups for 2021 – has launched a new hotel booking engine called Alight.travel that allows travelers to book long -term hotels and calculate and recover their carbon emissions at checkout.

Google Improves Trip Planning Tools as Travel Search Boom
May 2, 2022 via Phocus Wire
Google is launching new features to help consumers plan a trip – or just start dreaming about one – as searches for travel -related queries track above the level of pre-pandemic.



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