The Booking.com juggernaut keeps powering on with the online travel agent clocking up one million bookings in a single day while also breaching the one million mark for accommodation listings, contributing to a gross profit of $US2.4bn for parent company Priceline Group in the second quarter – up 16% over last year.
“The Priceline Group executed another strong quarter as we witnessed a solid start to the summer travel season,” said Jeffery H. Boyd, Chairman and Interim Chief Executive Officer.
“Globally, our accommodation business booked 141 million room nights in the second quarter, up 24% over the same period last year.
“We believe this consistent growth demonstrates the strength of our brands, the value of a diversified global footprint and solid execution by our brand management teams.”
Looking ahead, Priceline Group said it is targeting the following for 3rd quarter 2016:
• Year-over-year increase in room nights booked of approximately 18% – 23%.
• Year-over-year increase in total gross travel bookings of approximately 14% – 19% (an increase of approximately 15% – 20% on a constant-currency basis).
• Year-over-year increase in revenue of approximately 12% – 17%.
• Year-over-year increase in gross profit of approximately 15% – 20% (an increase of approximately 16% – 21% on a constant-currency basis).
• Net income of approximately $1.30 billion to $1.38 billion.
• Adjusted EBITDA of approximately $1.73 billion to $1.83 billion.