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Booking.com reservations fall 40 percent in Q1
 Hotel reservations in Q1 40 percent lower y/y 09.May.20 7:05 PM By Shawn Highstraw Photo Booking.com |
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The number of bookings made through Booking.com for nights in hotels, apartments and other guest accommodations has already fallen by 40 percent in the first three months of the year as a result of the corona crisis. Partly because of this, Booking Holdings, parent company of Booking.com, saw its first-quarter turnover decrease by 19 percent to $2.3 billion (ˆ2.12 billion). The loss came to $699 million. In the same period last to Booking Holdings added another profit of $ 765 million. The company processed $12.4 billion in bookings for the companies connected to the platform in the first quarter. That is a decrease of 51 percent compared to the first three months of 2019. The number of overnight stays booked decreased by 43 percent. Despite the impact of the corona crisis, CEO Glenn Fogel expects the company to emerge stronger from the current crisis. | |
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