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Expedia reports 8% growth in gross booking for 2019

Date:2020-07-10Source:欧洲自助游 欧洲自由行Official Site:http://www.27eu.com ReadingNumber: Times

Expedia Group announced financial results today for the fourth quarter and full year ended December 31, 2019. 

“Since our management change in December, we have re-focused the company on our core operations which had suffered for much of 2019. We have rapidly moved to simplify how we operate and increase efficiency. These changes helped us exceed the high-end of our revised guidance range in 2019 and will contribute to accelerated profit growth in our underlying business in 2020. In addition, we are targeting $300-500 million of run-rate cost savings across our business. We are not providing a specific guidance range given uncertainty on how much cost savings we’ll recognize this year and the full effect of Coronavirus. However, taking these factors into account, we expect 2020 Adjusted EBITDA growth to be in the double-digits,” said Chairman Barry Diller and Vice Chairman Peter Kern. “More importantly, the actions we’re taking to simplify our business and drive cost efficiency will position Expedia Group for improved revenue growth and margin expansion for years to come.” 

The company expects the coronavirus will have USD 30-40 million impact to adjusted EBITDA in Q1.

Key Highlights

• Gross bookings and revenue each increased 8%, to $107.9 billion and $12.1 billion, respectively for the full year 2019. 

• Total stayed lodging room nights increased 11% for both the fourth quarter and full year 2019. 

• For full year 2019, Net income and Adjusted EBITDA grew 39% and 8%, respectively. 

• Net cash provided by operating activities and free cash flow grew 40% and 46%, respectively for the full year 2019 to $2.8 billion and $1.6 billion, respectively. 

• From early December through early February, Expedia Group repurchased 5.8 million shares for $634 million. For full year 2019, Expedia Group repurchased 5.6 million shares for $683 million.

Expedia reports 8% growth in gross booking for 2019


Financial Summary & Operating Metrics- Fourth Quarter 2019

Expedia reports 8% growth in gross booking for 2019


Financial Summary & Operating Metrics - Full Year 2019

Gross Bookings & Revenue

Fourth Quarter 2019: Total gross bookings increased 6% (foreign exchange impact was negligible), driven primarily by growth in Expedia Partner Solutions, which includes the benefit from enterprise deals launched in late 2018, and Hotels.com. Domestic gross bookings increased 7% and international gross bookings increased 4% (including 1 percentage point of negative foreign exchange impact). 

Expedia reports 8% growth in gross booking for 2019

Full Year 2019: Total gross bookings increased 8% (including 2 percentage points of negative foreign exchange impact), driven primarily by growth in Expedia Partner Solutions, which includes the benefit from enterprise deals launched in late 2018, and Hotels.com. Domestic gross bookings increased 10% and international gross bookings increased 5% (including 4 percentage points of negative foreign exchange impact).

Fourth Quarter 2019: Total revenue increased 7% (including 2 percentage points of negative foreign exchange impact), driven primarily by growth in Expedia Partner Solutions and Hotels.com, as well as inorganic impact related to an acquisition. Domestic revenue increased 10% and international revenue increased 4% (including 1 percentage point of negative foreign exchange impact). 

Full Year 2019: Total revenue increased 8% (including 2 percentage points of negative foreign exchange impact), driven primarily by growth in Expedia Partner Solutions, Vrbo, Hotels.com and Brand Expedia. Domestic revenue increased 11% and international revenue increased 4% (including 3 percentage points of negative foreign exchange impact).

Product & Services Detail - Fourth Quarter 2019

As a percentage of total worldwide revenue in the fourth quarter of 2019, lodging accounted for 70%, advertising and media accounted for 9%, air accounted for 7% and all other revenues accounted for the remaining 14%. 

Lodging revenue increased 9% in the fourth quarter of 2019 on an 11% increase in room nights stayed driven by growth in Hotels.com and Expedia Partner Solutions, partly offset by a 2% decrease in revenue per room night.

Air revenue decreased 8% in the fourth quarter of 2019 driven by a 9% decrease in revenue per ticket. Air tickets sold were flat year over year. The decrease in revenue per ticket is primarily related to a shift in product mix and changes in classification of certain fees. 

Advertising and media revenue increased 4% (including 2 percentage points of negative foreign exchange impact) in the fourth quarter of 2019 due to growth at Expedia Group Media Solutions, partly offset by declines at trivago. 

Other revenue increased 11% in the fourth quarter of 2019 benefiting from inorganic impact related to an acquisition and growth in car products. 

Product & Services Detail - Full Year 2019 


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