Following increased availability of vaccines, Booking Holdings Inc. experienced rebounds in demand for travel from countries like the US and UK.
- First-quarter gross travel bookings fell by 4%, to $ 11.9 billion compared to the previous year
- the company experienced a loss of $ 5.26 per share, compared to prior estimates of a $ 5.87 loss per share
- total revenue fell by 50%
- net loss was recorded at $ 55 million, or $ 1.34 per share, in the quarter which ended 31 March.
The following trends were recorded across the world:
- Booking recorded strong domestic room night growth in Australia and Russia. Airline tickets booked rose by 49% in the first quarter, compared to 2019.
- Demand in Europe rose significantly, however it remained levelled during end March, following renewed travel restrictions.
- In Asia, room night declines worsened in April compared to the prior month.
- In places where vaccine distribution remains low, demand for travel remains low, thus revealing that vaccine distribution seems to have an effect on demand for travel.
- As the health crisis worsens, Asia in particular remains severely affected by this. Accordingly, Increasing vaccine distributions seems like the only likely solution to easing pent up demand.