EXPE · 10-Q · 2026Q3 · Full report

Market Demand Trends

Expedia Group, Inc. · 2026-11-05 · Importance 48 · Surprise 40

Gross bookings increased 11% and 12% in the third quarter and first nine months of 2026, respectively. B2C gross bookings growth was driven by sustained momentum in the U.S., while B2B gross bookings grew double digits across all regions. Lodging room nights booked rose 7% in the third quarter, led by continued strength in B2B.

Key facts

• Events in the Middle East and Mexico in late Q1 2026 negatively affected the travel industry, and the pressure continued into Q2, particularly in Europe, where macro headwinds and reduced air capacity weighed on demand. source
• Events in the Middle East in 2026 reduced global air capacity and increased prices materially, adversely affecting Expedia Group’s booked air-ticket volume, with a less pronounced impact on total booked value. source
• Room nights booked grew 7% in Q3 2026, compared with growth of 8% in 2025 and 9% in 2024. source
• Expedia Group’s booked air tickets decreased 6% in Q3 2026, increased 5% in 2025 and increased 6% in 2024. source
• Booked room nights for Expedia Group’s lodging business increased 7% and 6% for the three and nine months ended September 30, 2026, respectively, led by continued strength in B2B. source
• Expedia Group’s air bookings grew in Q3 2026 compared with Q3 2025, in line with growth in its lodging business. source
• Expedia Group’s consolidated revenue and income are typically lowest in Q1 and highest in Q3. source