All articles tagged with #online travel
China’s State Administration for Market Regulation opened an antitrust probe into Trip.com for suspected abuse of its dominant market position; Trip.com said it would cooperate and that its operations are normal, but the stock plunged nearly 22% in Hong Kong, the worst performer on the Hang Seng; the case underscores regulatory risk in China’s online travel sector even as tourism rebounds.
Tripadvisor's stock rose 17% after Starboard Value disclosed a over 9% stake in the company, signaling potential strategic changes, with the investment valued at around $160 million, amidst a period of flat stock performance and previous strategic reviews.
Airbnb reported Q1 gross booking value of $20.4B, up 19% YoY, and revenue of $1.8B, up 20% YoY. The company's adjusted EBITDA was up 14% to $262M, and free cash flow was $1.6B, up 32% YoY. However, Airbnb's Q2 outlook disappointed investors, with revenue expected to be between $2.35B to $2.45B, and adjusted EBITDA to be lower on a margin basis. Shares of Airbnb fell 9.66% in after-hours trading.