A first for the company to breach that milestone in a quarter. The jump in room nights was likely driven by alternative accommodations, non-hotel properties like private apartments and vacation rentals.
Booking has been pouring investment into alternative accommodations, the fastest-growing part of the market. Profit from non-hotel properties is generally slightly lower, but success in this category will have long-term benefits for the company, Singh said.
The amount Booking spent on television advertising and other brand-related ads increased in the quarter, reflecting the company’s effort to grow in the U.S. market, long the home territory of Expedia.