Things are looking good for online booking and travel platform Expedia Group — well, relatively, anyway.
Its third-quarter earnings report shows a company that’s still pulling in $US1.5 billion in quarterly revenue, exceeding mid-pandemic expectations, even if that it represents $US221 million in losses.
The India Times reports parts of Expedia's business, such as airfare sales, may have tanked, but others, like rental home platform VRBO, are compensating.
Instead of looking back at the last few months of bumpy business, though, Chief Executive Office Peter Kern — who assumed leadership of the company in April — would rather look forward. Even in comparison to other bullish industry leaders, Kern is steadfast in his conviction that travel’s recovery isn’t just on the horizon but around the corner.
And it won’t be just on forested hiking trails and scenic byways but in big, dense, boarded-up cities, too.
Kern firmly holds that news of an impending vaccine — rather than the vaccine itself — is what will jump-start travel again.
“People will think, ‘Well, by the summer Europe might be open, or I might have the vaccine, so let’s book it,’” he explains.
“Barring the vaccine, my sense is that people were getting increasingly comfortable with how safe air travel and hotels are—the precautions that the industry has been taking — and the numbers [of bookings] have been creeping up [as a result],” he says. “Of course, it helps if everybody does their part [to keep the virus in check].”