Booking Holdings reports lower revenue as travel demand weakens
Booking Holdings said travel demand eased towards the end of the third quarter amid unrest in Europe and the Middle East conflict. Its reported revenue fell 1%, although room-night bookings rose 7%.
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Booking Holdings, the parent company of Booking.com, reported lower revenue and profit in the third quarter, saying travel demand weakened towards the end of the period amid unrest in some European cities and the continuing conflict in the Middle East.
The company recorded 345 million room nights booked through its websites, up 7% from a year earlier. Revenue fell 1% to $8.9 billion, while net profit was $2.7 billion.
Booking Holdings also recorded a $900 million reduction in revenue and a $100 million loss linked to a case brought by the US Federal Trade Commission. Excluding those items, the company said revenue would have risen 9% to $9.8 billion.
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