Skift Take
Ever since its split with TripAdvisor, Expedia's moved quickly ahead, both to reinvent itself as the most social of the OTAs to one that's likely the only challenger to Priceline's suite of sites.
Expedia, based in Bellevue, Washington, advanced 20 percent to $54.92 at 2:31 p.m. in New York, after earlier climbing as much as 28 percent for the biggest percentage jump since April 27. They had gained 58 percent this year through yesterday.
The company saw stronger second-quarter demand for hotel rooms, Chief Executive Officer Dara Khosrowshahi said on a conference call yesterday. A 22 percent increase in room nights offset a 1 percent decline in the average daily rate. Expedia’s acquisition of VIA Travel in April has also boosted bookings revenue, Khosrowshahi said.
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