The company is raising its 2024 revenue and adjusted EBITDA guidance following second quarter results that exceeded previous guidance
Aug 2, 2024
The Texas-based global travel technology company reported operating income of $61 million from April 1 to June 30 this year, an increase of $103 million compared to the second quarter of last year. Revenue for the period reached $767 million, up 4% year over year, driven by strong performance in its Travel Solutions and Hospitality Solutions segments.
Key takeaways
- Travel Solutions, which serves travel suppliers and buyers through a B2B marketplace, generated $695 million, or approximately 90% of the company’s second quarter revenue;
- Hospitality Solutions, which provides software and solutions to more than 40,000 hoteliers worldwide, contributed $83 million in the second quarter;
- The company remains optimistic about the growth of business travel and expects annual increases of 3% to 5% based on input from travel management companies, corporations and suppliers.
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