Travel groups Expedia and Booking Holdings said there was strong demand for accommodations in the first three months of 2023, with both companies posting record sales figures.
Expedia reported revenue of $2.7 billion, its highest level for a first quarter and an 18% improvement over the comparable period of 2022.
Booking said its gross bookings — the total value of services booked — reached $39.4 billion, a 44% year-over-year increase.
Both companies slightly beat analysts’ revenue forecasts while underperforming in terms of earnings per share.
Expedia said: “The first quarter saw strong travel demand driven by increased international travel, travel to major cities and re-opening in Asia.”
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