Booking Holdings’ Revenue Increased During Third Quarter of 2021 as Europe Opened up for Travellers

Booking Holdings reported that due to less stringent restrictions and an increase in the number of people who took trips over the past few months, its revenue for the third quarter of 2021 increased to more than 4 billion euros, which is slightly below the figures recorded during the same period in 2019.

On the other hand, compared to last year, the company’s total travel bookings in the third quarter of this year increased by 77 percent, TheSchengen.com reports.

In terms of net income, the company showed that during the third quarter of 2021, net income amounted to €666 million, which is a 4 percent decrease from the previous year’s quarter.

“We are pleased to report another quarter of sequential improvement in room nighttime trends, which was primarily driven by better results in Europe. Revenue in our seasonally strongest third quarter was $4.7 billion, which is $4.7 billion,” said Glenn Vogel, CEO of Booking Holdings. More than double the amount of revenue we recorded in the second quarter of 2021.

As many European countries were recording lower COVID-19 infection rates and opening them up to travelers from several regions, the number of room nights booked increased. Based on a review published by Booking Holdings, 183 million overnight stays were booked during the third quarter of 2021.

These figures represent a 44 percent increase over the same period last year. However, compared to the same period in 2019, the numbers are still low, with 223 million overnight stays booked during the third quarter of 2021.

Moreover, the number of those who bought airline tickets saw an increase of 154.8 percent compared to the second quarter of this year, indicating that travelers have felt more confident about traveling over the past few months.

Earlier last month, the European Travel Commission (ETC) revealed that more Europeans are planning to travel in the next six months. In line with data provided by ETC, two-thirds of European citizens plan to travel during the fall and winter, indicating a positive trend for intra-block tourism.

Interest in domestic travel has generally declined. On the other hand, the majority of respondents who participated in the ETC survey claimed that they plan to travel to another European country. Spain was the main travel choice, followed by Italy and France.

Previously, TheSchengen.com reported that Air France expects an increase of up to 75 percent in booking prices as more people plan to travel abroad during the winter holiday season.

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Source: schengenvisainfo.com

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