HotelClub In Dramatic Bookings Slump

Gross bookings at HotelClub have fallen 9% to US$94m for the September quarter. It’s a dramatic turnaround for the online accommodation company, which blamed the sales decline on Europe.

The result, contained in the latest Orbitz figures, will come as a shock to many because HotelClub has been an extremely strong performer over the past year, growing sales an impressive rates.

For example, HotelClub reported 15% growth (to $US100m) in gross bookings for the three months to June 31, and did even better during the March quarter with 31% growth ($US102m).

But the good times have now come to an end with poor results from Europe reversing momentum. The company said its home market of Australia continues to grow while net revenue was flat despite the sales slump.

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