Intermediaries

Expedia records Q3 profit despite $20m natural disasters hit

Posted by Ben Ireland on
Expedia records Q3 profit despite $20m natural disasters hit

Expedia’s third quarter results show a rise in bookings, revenue and profit despite a cost of up to $20 million due to recent natural disasters and $8 million losses at trivago.

Gross bookings, including HomeAway, increased $2.2 billion or 11% year-over-year to $22.2 billion.

Revenue increased 15% year-over-year to $3.0 billion, with vacation rental marketplace HomeAway accounting for $305 million, an increase of 45% year-over-year.

The number of room nights stayed, including HomeAway, rose by 16% year-over-year. Expedia’s global growth brands of Expedia, Hotels.com, EAN and Egencia combined saw and increase 18% year-over-year, while HomeAway room nights were up 36%.

Expedia, Inc.’s adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) grew 6% year-over-year during the third quarter, which includes hotel price comparison site trivago’s $8 million loss and an estimated negative impact of approximately $15 million to $20 million from the recent natural disasters such as hurricanes Irma and Maria.

The Expedia, Inc. global lodging portfolio increased by 57% year-on-year to over 500,000 properties available as of September 30, 2017, the end of quarter three. HomeAway now offers nearly 1.5 million online bookable listings, according to the results.

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