Expedia Group, one of the leading companies in online travel, announced its financial data for the fourth quarter of 2020.
According to the press release published by Expedia Group, revenue for the last three months of 2020 was $ 7.5 billion, down 67% compared to the same period last year.
The total annual revenue of the company decreased by 57% compared to 2019, from $ 12 billion to $ 5.1 billion.
“Last year was an incredibly difficult year for the travel industry, and while not as hard hit as many of our partners, Expedia was not spared the broadly negative impacts of COVID-19. The fourth quarter brought signs of hope in the form of vaccine approvals, but rising cases across the globe and rolling shutdowns of various travel markets made an impact. As a result, Q4 did not show any real sequential progress other than some signs of modest improvement around the holidays that carried into the early part of 2021,” said Vice Chairman and CEO, Peter Kern.
Expedia Group’s travel brands includes: Expedia, Hotels.com, Expedia Partner Solutions, Vrbo, Egencia, trivago, HomeAway, Orbitz, Travelocity, Hotwire, Wotif, ebookers, CheapTickets, Expedia Group Media Solutions, CarRentals.com, Expedia Cruises, Classic Vacations, Traveldoo and VacationRentals.com
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