Orbitz 2011 Annual Report Download - page 38

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38
Net Revenue
The table below shows our gross bookings, net revenue, transaction growth and hotel room night growth for the years
ended December 31, 2011, 2010 and 2009. Gross bookings, transactions and hotel room nights not only impact our net revenue
trends, but these metrics also provide insight into changes in overall travel demand, both industry-wide and on our websites.
Air gross bookings are comprised of stand-alone air gross bookings, while non-air gross bookings include gross bookings from
hotels, car rentals, vacation packages, cruises, destination services and travel insurance.
Years Ended
December 31, Increase/ (Decrease)
Years Ended
December 31, Increase/ (Decrease)
2011 2010 $ % 2010 2009 $ %
(in thousands) (in thousands)
Gross bookings:
Domestic:
Air (a) . . . . . . . . . . . . . . . . . . . . $ 6,812,804 $ 7,297,431 $ (484,627) (7)% $ 7,297,431 $6,359,267 $ 938,164 15 %
Non-air (b) . . . . . . . . . . . . . . . . 2,285,081 2,266,324 18,757 1 % 2,266,324 2,143,912 122,412 6 %
Total domestic gross
bookings. . . . . . . . . . . . . . . . . 9,097,885 9,563,755 (465,870) (5)% 9,563,755 8,503,179 1,060,576 12 %
International:
Air . . . . . . . . . . . . . . . . . . . . . . . 1,384,180 1,139,632 244,548 21 % 1,139,632 895,685 243,947 27 %
Non-air . . . . . . . . . . . . . . . . . . . 858,453 666,790 191,663 29 % 666,790 543,580 123,210 23 %
Total international gross
bookings (c) . . . . . . . . . . . 2,242,633 1,806,422 436,211 24 % 1,806,422 1,439,265 367,157 26 %
Total gross bookings. . . . . . . . . . $11,340,518 $11,370,177 $ (29,659) — % $11,370,177 $9,942,444 $ 1,427,733 14 %
Net revenue:
Air . . . . . . . . . . . . . . . . . . . . . . . $ 265,167 $ 274,568 $ (9,401) (3)% $ 274,568 $ 269,643 $ 4,925 2 %
Hotel . . . . . . . . . . . . . . . . . . . . . 209,589 203,821 5,768 3 % 203,821 183,658 20,163 11 %
Vacation package . . . . . . . . . . . 120,688 115,161 5,527 5 % 115,161 117,026 (1,865) (2)%
Advertising and media . . . . . . . 54,599 49,353 5,246 11 % 49,353 59,534 (10,181) (17)%
Other . . . . . . . . . . . . . . . . . . . . . 116,776 114,584 2,192 2 % 114,584 107,787 6,797 6 %
Total net revenue (d) . . . . . . . . . $ 766,819 $ 757,487 $ 9,332 1 % $ 757,487 $ 737,648 $ 19,839 3 %
Net revenue:
Domestic . . . . . . . . . . . . . . . . . . $ 547,120 $ 579,585 $ (32,465) (6)% $ 579,585 $ 584,951 $ (5,366) (1)%
International . . . . . . . . . . . . . . . 219,699 177,902 41,797 23 % 177,902 152,697 25,205 17 %
Total net revenue (d) . . . . . . . . . $ 766,819 $ 757,487 $ 9,332 1 % $ 757,487 $ 737,648 $ 19,839 3 %
Transaction and hotel room night growth (decline):
Transaction growth . . . . . . . . . . . (8)% 7%
Hotel room night growth . . . . . . . (1)% 8%
(a) For the year ended December 31, 2011, the decrease in domestic air gross bookings from the year ended December 31,
2010 was driven primarily by lower transaction volume, partially offset by higher air fares. For the year ended
December 31, 2010 compared with the year ended December 31, 2009, domestic air gross bookings increased primarily
due to higher air fares and higher transaction volume.
(b) For the year ended December 31, 2011 compared with the year ended December 31, 2010, the decrease in domestic
non-air gross bookings was due primarily to lower vacation package volume, partially offset by higher average daily
rates for hotel rooms (“ADRs”). For the year ended December 31, 2010 compared with the year ended December 31,
2009, the increase in domestic non-air gross bookings was due primarily to higher hotel transaction volume and ADRs
and, to a lesser extent, higher car rental volume; the increase in domestic non-air gross bookings was partially offset by
a decline in vacation package volume and lower ADRs for car rentals.
(c) The increases in international air gross bookings were due primarily to higher transaction volume, partially offset by a
lower average price per airline ticket. Higher gross bookings for both vacation packages and hotels for ebookers, which
were due primarily to higher transaction volume, drove the increase in non-air gross bookings, which were partially
offset by lower hotel gross bookings for HotelClub.