Expedia Group bounces back in 2021 – but still a way to go
Following the release of its 2021 full-year financial reports, Expedia Group Inc. (Expedia) reported $8.6 billion in annual revenue, up 65.0% from the COVID-19 (coronavirus) induced lows in 2020. Year on year, stayed room night growth increased by 35.0%, while gross bookings nearly doubled, increasing by 97.0%.Furthermore, after recording $2.7 billion in losses, the company recorded $186.0 million in profitability. Additionally, revenue grew in the fourth quarter despite the impact of the omicron variant. Expedia expects the company to continue trending upward to pre-pandemic figures, barring another outbreak.
COVID|Balance SheetIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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