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Vrbo, Expedia Group’s alternative accommodations brand, was the lead contributor to the company’s improving booking trends in June.
According to Expedia, booking trends were starting to improve last month after “a period of unprecedented declines” caused by the coronavirus pandemic.
In a Monday filing with the Securities and Exchange Commission, Expedia said declines in gross lodging bookings moderated to around 45% in June, compared to a decline of 85% in the second half of March and April. Additionally, Expedia said cancellation rates — which remain higher than pre-pandemic levels — moderated and remained stable through June.
Expedia attributed much of the positive booking trends to Vrbo.
“Vrbo’s gross bookings, excluding cancellations, increased significantly year over year in May and June due to its strong inventory position in whole-home alternative accommodations to drive-to destinations, which has been one of the first segments of travel to recover,” Expedia said.
The company also warned that despite the positive news, there are still risks going forward that could impact travel. That includes further travel restrictions if the number of Covid-19 cases reaccelerates.
Source: travelweekly.com
