The firm reported total lodging bookings of $21 million for the first quarter across all of its platforms.

At Inman Connect Las Vegas, July 30-Aug. 1 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.

Vrbo parent company Expedia Group hit its earnings guidance for the first quarter of 2024 despite a slowdown in lodging bookings and a slow restart for Vrbo following a transfer to a different technology platform and a subsequent pullback in marketing, according to an earnings report released Thursday.

The firm reported total lodging bookings of $21.0 million for the first quarter across all of its platforms, which include Expedia, Vrbo and, a 4 percent increase from 2023. Revenue was at $2.9 billion for the quarter, an 8 percent bump from 2023.

“Our first quarter results met our guidance with a revenue and earnings beat but with less robust gross bookings,” Expedia Group CEO Peter Kern said in a statement. “However, Vrbo’s recovery following the recent re-platforming has been slower than anticipated, which has put pressure on gross bookings.”

The company registered a net loss of $135 million and adjusted net income of $29 million.

The slowdown in bookings inspired Expedia to lower its full-year guidance to single-digit top-line growth, with its margins expected to look similar to last year’s.

“Given the Vrbo drag and the rate of acceleration in B2C thus far, we are lowering our full-year guidance to a range of mid- to high-single-digit top-line growth, with margins relatively in line versus last year,” Kern said.

The company also said it plans to increase investment into the marketing of Vrbo to raise the platform’s profile.

“We had pulled back in Vrbo marketing in the second half of last year while we went through our migration,” Kern said during a conference call with investors on Thursday. “While we have been ramping that spend and the product has been improving, we have seen a slower-than-expected recovery based on this.”

The growth in bookings for the first quarter was driven primarily by hotel bookings,  which were up 12 percent during the first quarter, executives said during the call.

Email Ben Verde

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription