Online travel agency Booking Holdings (BKNG.O), opens new tab forecast lower room nights growth in the third quarter after beating analysts’ estimates for second-quarter revenue and profit, sending its shares down 8% after the bell.The booking window shrank in the second quarter and is expected to shrink further in the third quarter, the parent of booking.com and priceline brands said on a post-earnings call.Booking window, an important metric in the travel industry, refers to the number of days between the reservation date and actual arrival. A higher booking window indicates strong occupancy and revenue guaranteed in advance. The company forecast third-quarter room night growth to be between 3% to 5%, compared to 7.1% growth in the second quarter and 14.9% growth in the year-ago quarter.
Read the full article at reuters.com
Recent Comments