Booking Holdings Inc posted a 77% rise in third-quarter revenue on Wednesday, as more people used the online travel agent to book trips after the United States announced it would open borders to vaccinated foreign nationals.
Travel searches to the world’s largest economy on Booking-owned travel website Kayak surged after the White House said last month it would lift travel curbs for fully vaccinated international visitors from Nov. 8.
“We are encouraged by the signs of recovery we saw in many parts of the world,” Chief Executive Officer said Glenn Fogel in a statement.
Gross travel bookings rose 77% to $23.7 billion from a year ago, while room nights – a measure of occupancy at any property – increased 44%.
Net revenue rose to $4.68 billion from $2.64 billion.
But the company said its results had been “materially and negatively impacted due to the COVID-19 pandemic and the resulting economic conditions and government restrictions.”
Its net income fell 4% to $769 million, or $18.60 per share, in the quarter ended Sept. 30.
Booking earned $37.70 per share on an adjusted basis.
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