On-line travel agency Expedia has revealed gross bookings for the quarter ending March 31 were up 64% on the previous year, and total revenue was up 103%.
Gross bookings for the quarter ending March 31 were worth $1.1 billion, a rise of 64% on the previous year, and total revenue for the quarter ending March 31 was $116 million, an increase of 103% on the previous 12 months.
Vacation packages gross bookings rose 320% to $164 million.
, president and CEO of Expedia said: “These numbers are the result of consumers and suppliers embracing the travel marketplace we have built at Expedia and the success of our technology-driven and diversified business plan.
“In particular, this quarter we saw our dynamic packaging business really hit its stride. We sold $164 million in Expedia Vacations as our Expert Searching and Pricing platform enabled our travellers to custom-build their trips, choose from a broad selection of quality brands and get great values.”
Gregory S. Stanger
, senior vice president and CFO said: “This financial performance reflects record results across all significant line items. In addition, we continued to diversify our business model, with merchant revenues exceeding agency revenues for the first time.”
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