[Travel News]: Booking reports 626.7% increase in air tickets but still faces $167 million net loss
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The following is the [Travel News]: Booking reports 626.7% increase in air tickets but still faces $167 million net loss from [ChinaTravelNews] recommended by TheTourAttraction.com:
Room nights booked in the 2nd quarter increased 458% from the prior year quarter.
Booking Holdings today reported its 2nd quarter 2021 financial results. Second quarter gross travel bookings for Booking Holdings were $22.0 billion, an increase of 852% from the prior year quarter.
Room nights booked in the 2nd quarter increased 458% from the prior year quarter.
Airline tickets increased by 626.7% for the three and six months ended June 30, 2021, compared to the three and six months ended June 30, 2020, reaching the highest level since the second quarter of 2019.
Booking Holdings’ total revenues for the 2nd quarter of 2021 were $2.2 billion, a 243% increase from the prior year quarter.
The Company reported a net loss of $167 million in the 2nd quarter of 2021, compared with net income of $122 million in the 2nd quarter of 2020.
“We are encouraged by another quarter of meaningful sequential improvement in booking trends with second quarter room nights increasing 59% versus the first quarter of 2021, primarily driven by stronger results in Europe and in the U.S.,” said Glenn Fogel, Chief Executive Officer of Booking Holdings. “We remain focused on strengthening our core accommodation business and driving benefits to our travelers and our accommodation supply partners alike. In addition, we continue to execute against our strategic priorities, including our Connected Trip vision, which we believe will further enhance our core accommodation business.”