The 海角视频 division of travel titan Expedia has more than doubled its profits as turnover rocketed by nearly £60m in 2023, the latest accounts at Companies House disclose.
The company's pre-tax profits surged to £52.6m for the year, a substantial increase from the previous year's £26m.
Turnover for the firm also experienced a significant boost, escalating from £280.6m to an impressive £337.9m.
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In Europe, excluding the 海角视频, Expedia's turnover for 2023 climbed from £39.2m to £77.5m.
Further afield, turnover increased from £241.3m to £260.4m across other global markets, as reported by .
The number of employees grew over the period, with an average headcount rising from 1,472 to 1,652 staff members.
An upbeat outlook on the travel sector's rebound was expressed by the company, highlighted in their board statement: "In 2023, the overall reopening of the Asia-Pacific region and general recovery outside of the United States was a factor in the gross bookings year-over-year growth rate for the Expedia Group and we expect that to remain the case for future periods."
Adding to the positive commentary, the board noted a robust resurgence in global travel demand, attributing its strength to consumer behaviour: "We have witnessed a healthy recovery of travel demand, which remains strong and is attributed to consumers prioritising spend on travel and experiences over other discretionary spending."
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Furthermore, Expedia reinstated its dividend policy last year, rewarding shareholders with an £11m payout following a drought in 2022.
Founder details mirror the parent groups success, headquartered in the US, which declared annual revenues of $12.8bn (£9.9bn), up from $11.6bn (£9bn), accompanied by an adjusted EBITDA at $2.6bn (£2bn), increasing from the prior figure of $2.3bn (£1.7bn).
At the time, Peter Kern, vice chairman and CEO of Expedia Group, remarked: "We delivered on our full year guidance and drove record results, all while completing a massive transformation and navigating the inherent volatility that comes with that."
"Our work is finally starting to deliver results, and we are in the best place we've ever been technologically."
"Moving forward, we are now able to execute without the numerous constraints we have faced in recent years."
"We will continue to focus on acquiring and retaining the right customers, driving share growth in our B2C and B2B businesses, and providing the best product and partner experience in the industry."
"It is really exciting to be in position to go back on offensive and lead the industry."
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