:
US: Expedia Group reported double-digit growth in revenue and gross bookings in the fourth quarter of 2025, as executives outlined progress in adapting to AI-driven travel discovery.
Revenue rose 11% year on year to $3.5 billion, while gross bookings increased 11% to $27 billion. For the full year, both metrics were up 8%.
Booked room nights grew 9% to 94 million in Q4, supported by continued strength in the US and accelerating growth in EMEA. The company said geopolitical pressures weighed on performance in parts of Asia.
B2B gross bookings rose 24% to $8.7 billion in the quarter, while B2C bookings increased 5% to $18.3 billion.
Adjusted EBITDA climbed 32% to $848 million, with adjusted net income up 52%. Direct selling and marketing expenses rose 10% year on year to $1.7 billion.
On the earnings call, chief executive Ariane Gorin said generative AI is reshaping how travellers discover trips and said Expedia is working with major platforms to ensure its brands are visible across AI-powered search experiences.
She added that about two thirds of bookings come from travellers who begin their journey on Expedia-owned brands, with direct bookings growing faster than indirect channels.
Highlights:
Expedia Group reports 11% year-on-year growth in Q4 revenue and gross bookings as it adapts to AI-driven travel discovery
CEO Ariane Gorin says direct bookings are growing faster than indirect channels, with two thirds of bookings starting on Expedia brands
B2B gross bookings rise 24% in Q4, outperforming consumer growth across all regions
Expedia says it is not seeing material traffic impacts from Google’s AI changes so far, while testing agentic browsers and AI search integrations
