Booking revenue triples on travel demand boost from US, Europe

Online travel agency Booking Holdings Inc said on Wednesday its quarterly revenue more than tripled and trounced estimates, driven by strong demand in Europe and the United States as more people planned their long-delayed getaways.

The travel industry has been witnessing a quicker-than-expected return in demand, with economies rebounding from a pandemic-led slowdown. Connecticut-based Booking said Asia, where vaccinations were low and cases high, was the least recovered region in July and continues to be down significantly from 2019 levels.

"People are looking at alternative accommodation more than they did in the past, and going forward, they will continue using it more than a hotel," Chief Executive Officer Glenn Fogel told Reuters.

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