The Priceline Group has seen gross bookings across the group for the first quarter of 2017 hit a record $20.7 billion.
The increase of 24% year-on-year is more than $400 million compared to the same period in 2016 and just under $300 million higher than the record quarter the group had between April and June last year.
Revenues for the business (including Priceline, Kayak, OpenTable, Agoda and Rentalcars) $2.42 billion for the first quarter of 2017, up from $2.19 billion in 2016.
Adjusted EBITDA for the group reached $635 million from $610 million y/y.
Booking.com is seeing the fruits of its recent focus on including alternative accommodation to the portfolio, hitting a total volume of 1.2 million properties worldwide including 640,000 vacation rentals, CEO Glenn Fogel says during the company’s earnings call with analysts.
Advertising spend has increased massively between the first quarters of 2016 and 2017, up 25% to $981 million.
Speaking to analysts, Fogel concedes that Booking.com does not have the same awareness for its rental accommodation options as its competitors, especially in the US, and is looking to rectify it through various means.
Across the group, some 173 million-plus room nights were booked during the quarter – another huge increase of 27% y/y.
Meanwhile, the Priceline Group’s chief financial officer, Dan Finnegan, is to retire.
This article originally appears on Tnooz