Expedia Group’s first-quarter results, released on Thursday (May 2), indicate a healthy yet more stabilized global travel market, albeit with slightly subdued gross bookings.
On a call with analysts and investors, outgoing CEO Peter Kern noted that while “North America remains the slowest growing geography relative to major international markets,” the gap is narrowing post-pandemic recovery.
In terms of key metrics, total gross bookings reached $30.2 billion, a 3% increase from 2023, primarily driven by lodging bookings, which grew 4% year over year (YoY). Overall, revenue grew 8% YoY to hit $2.9 billion, led by business-to-business (B2B), Brand Expedia, and the group’s advertising businesses.
Expedia’s B2B vertical, which supports various travel and non-travel companies, continues to thrive. Notably, a key partnership emerged with Walmart last year, offering exclusive travel discounts to Walmart+ members.
“Our B2B business serves a…
