Booking Says Room Reservations to Slow Amid Middle-East Conflict
- Shares pare gains after outlook for slower room-night growth
- Rival Expedia reported gross bookings that missed estimates
The Booking Holdings website.
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Booking Holdings Inc., owner of travel brands Kayak and Priceline, said it expects room-night reservations to slow in the current quarter as tensions in the Middle East curb regional tourism.
The company said it expects growth of 4% to 6% in room-night bookings, less than the 7.4% increase analysts were expecting. Gross travel bookings which includes taxes and fees, should rise 3% to 5%, the company said, also missing Wall Street’s estimates for 7.9% growth.