Boston, MA 05/02/2014 (wallstreetpr) – Online travel booking company, Expedia Inc (NASDAQ:EXPE), announced its Q1 2014 earnings on May 1st. The revenue has increased by 19% YoY; gross bookings by 29% and room night saw a growth of 24% in this quarter.
The increase in revenue was attributed to growth in hotel (which accounted for 66%), advertising and media (8%) as well as air tickets (11%). Expedia Inc (NASDAQ:EXPE) also completed migration of Travelocity-branded website in its own platform, as it had joined forces with this arch rival last year to share the load on searches. The company has also launched its Canadian site during this quarter.
Though, the revenue per room night saw a 10% decrease in order to expand the global hotel supply portfolio, hotel revenue saw a 12% increase in Q1 which was a drive by 24% increase in room nights. The growth of travel insurance and car rental products contributed cheerfully to Q1 results.
The shares of the company soar about 1% after the results beat analyst’s expectations and were trading around $73.87 at the close.
Q1 Highlights for Expedia
Hotels.com, of Expedia Inc (NASDAQ:EXPE), with its updated tagline “Hotels.com The Obvious Choice” launched its biggest integrated brand campaign in North America with a competition of choosing brand’s biggest fan, Captain Obvious.
In a bid to expand online travel bookings, Expedia Affiliate Network signed agreement with Ebates.com which is a, San Francisco based, leader of online cash back shopping
Expedia App, for iPhone and iPod touch, introduced an option of Media Lounge in 25 countries that enable customers to download premium content.
The brands of Expedia, cumulatively, saw over 125million downloads of its mobile app, since the launch.
At the end of Q1, Expedia Inc (NASDAQ:EXPE) websites featured more than 290,000 bookable properties and offered over 225,000 hotels in EMEA and APAC countries.
The company has also extended its Citi Bank credit card partnership, to reward loyal travellers.
