That hotel room you booked in Cabo may have just helped pay for office space in Bellevue.
Expedia has released its financial results for the first quarter of 2012. And perhaps in an indication of how the broader travel industry is recovering from the depths of the recession, the Bellevue-based company highlighted that room nights booked through its properties grew 24% year over year, with a dramatic 37% boost in room nights at Hotels.com.
Expedia’s properties include Expedia.com, Hotels.com, Hotwire.com and several others.
Despite the room night growth, Expedia says average daily room rates were flat and average airfares grew seven percent year over year. However, Expedia reported that its share of the revenues per room night and airline ticket decreased, countering the increases in sales and fares.
Revenue for the first quarter was $816.5 million, up 12 percent from $727.8 million the quarter a year earlier.
Including discontinued operations, Expedia reported a net loss for the first quarter of $3.3 million for a loss of two cents per share. Based only on continuing operations, Expedia earned 15 cents per share. Adjusted earnings per share were 26 cents.
Expedia’s shares (EXPE) jumped on the news in after-hours trading, up as high as 18%.