Expedia Group CEO Says In Q2, Consumer Spending Was Healthy, In Particular In The US
EXPE•Quarterly demand and booking trends
Aug. 5 (Reuters) - Expedia Group, Inc. EXPE.O:
- Expedia Group CEO: In Q2, consumer spending was healthy, in particular in the US - conf. call
- Expedia Group CEO: Consumers continue to prioritize travel with longer lengths of stay and longer booking windows, even as air ticket and hotel prices rose
- Expedia Group CEO: World Cup generated modest incremental demand late in the quarter
- Expedia Group CEO: A lot of bookings happened after the tournament began
- Expedia Group CEO: Total booked room nights were up 6%, with mid-single digits in the US, low single digits in EMEA, and low double digits in the rest of the world
- Expedia Group CEO: Europe remained pressured, particularly outbound travel, as macro headwinds and reduced air capacity weighed on demand
- Expedia Group CEO: APAC rebounded from the disruption related to the Middle East
- Expedia Group CEO: Consumer bookings were up 8%, driven by our fastest US growth in 15 quarters
- Expedia Group CEO: We're an early adopter of ChatGPT's latest ad product, expanded our work across Google's newer AI services
Management comments on outlook and external factors
- Expedia Group CFO: Assuming that the healthy demand trends that we have seen through Q2 and to begin Q3 here persist
- Expedia Group CFO: Healthy demand trend led by a particularly strong US and domestic market
- Expedia Group CFO: The conflict in the Middle East is having some impacts
