Booking Holdings said the coronavirus has had a significant and negative impact on business during the first quarter this year.
The company anticipates a 5%-10% drop in room nights in the quarter. Total gross travel bookings are to fall by 10%-15% during the time, and revenues may decline by 3%-7%.
Booking reported 191 million room nights for the fourth quarter of 2019, up by 11.8% year on year. Total gross travel bookings for the whole year were USD 96.4 billion, a 4% increase compared to 2018.
Fourth-quarter gross travel bookings were USD 20.7 billion, an increase of 6% over a year ago. Total revenues for the were USD 3.3 billion, up by 4%. Net income in the quarter was USD 1.2 billion, which was 81% higher than the prior year. Net income in the fourth quarters of 2019 and 2018 includes an unrealized gain of USD 326 million and an unrealized loss of USD 474 million, respectively, on marketable equity securities.
For the full-year 2019, Booking Holdings had gross travel bookings of USD 96.4 billion, a 4% increase compared to 2018. Total revenues in 2019 were USD 15.1 billion, a 4% increase from the prior year. Net income for the full-year 2019 was USD 4.9 billion, up by 22%.
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