Expedia’s hit its latest profit and growth targets while there’s informed speculation that its contentious takeover bid for fellow US website Orbitz will be approved by the Department of Justice during August.
Highlights of Expedia’s 2nd quarter results included:
- Room night growth (excluding eLong) hit 35% year-over-year, with domestic and international room nights growing 24% and 50% year-over-year, respectively.
- New acquisition Wotif definitely a factor in the strong international growth.
- Gross bookings increased 20% and while revenue rose 15% year-over-year (excluding eLong).
- In May 2015, Expedia sold its 62.4% equity stake in eLong, Inc. for approximately USD671 million to several purchasers including Ctrip.com International, Ltd.
Meanwhile, the New York Post has reported that “Expedia’s controversial deal to acquire online travel rival Orbitz for USD1.6 billion is expected to get the green light from antitrust officials.”