Orbitz 2014 Annual Report Download - page 34

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34
Key Operating Metrics
The table below shows our gross bookings, net revenue, transaction growth and hotel room night growth for the years
ended December 31, 2014, 2013 and 2012. Gross bookings, transactions and stayed hotel room nights not only have an impact
on our net revenue trends, but these metrics also provide insight to changes in overall travel demand, both industry-wide and
specific to our websites. Air gross bookings include only standalone 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)
2014 2013 $ % 2013 2012 $ %
(in thousands) (in thousands)
Gross bookings:
Domestic. . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9,993,989 $ 9,086,018 $ 907,971 10% $ 9,086,018 $ 8,948,277 $ 137,741 2 %
International . . . . . . . . . . . . . . . . . . . . . . . . 2,433,798 2,352,052 81,746 3% 2,352,052 2,289,201 62,851 3 %
Total gross bookings . . . . . . . . . . . . . . . 12,427,787 11,438,070 989,717 9% 11,438,070 11,237,478 200,592 2 %
Stand-alone air . . . . . . . . . . . . . . . . . . . . . . 7,868,781 7,516,976 351,805 5% 7,516,976 7,899,289 (382,313) (5)%
Non-air . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,559,006 3,921,094 637,912 16% 3,921,094 3,338,189 582,905 17 %
Total gross bookings . . . . . . . . . . . . . . . 12,427,787 11,438,070 989,717 9% 11,438,070 11,237,478 200,592 2 %
Net revenue:
Hotel. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 349,877 $ 294,154 $ 55,723 19% $ 294,154 $ 225,654 $ 68,500 30 %
Air. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 257,154 249,698 7,456 3% 249,698 261,538 (11,840) (5)%
Vacation package . . . . . . . . . . . . . . . . . . . . 150,075 142,522 7,553 5% 142,522 130,098 12,424 10 %
Advertising and media . . . . . . . . . . . . . . . . 63,349 59,036 4,313 7% 59,036 58,065 971 2 %
Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111,552 101,593 9,959 10% 101,593 103,441 (1,848) (2)%
Total net revenue (a) . . . . . . . . . . . . . . . . . . $ 932,007 $ 847,003 $ 85,004 10% $ 847,003 $ 778,796 $ 68,207 9 %
Net revenue:
Domestic. . . . . . . . . . . . . . . . . . . . . . . . . . . $ 690,728 $ 617,123 $ 73,605 12% $ 617,123 $ 562,091 $ 55,032 10 %
International . . . . . . . . . . . . . . . . . . . . . . . . 241,279 229,880 11,399 5% 229,880 216,705 13,175 6 %
Total net revenue (a) . . . . . . . . . . . . . . . . . . $ 932,007 $ 847,003 $ 85,004 10% $ 847,003 $ 778,796 $ 68,207 9 %
Transaction and hotel room night growth/(decline):
Booked transactions . . . . . . . . . . . . . . . . . . . 8% (2)%
Stayed hotel room nights . . . . . . . . . . . . . . . 17% 18 %
(a) For the years ended December 31, 2014, 2013 and 2012, $94.7 million, $98.7 million and $112.8 million of our total net
revenue, respectively, was from incentive payments earned for air, car and hotel segments processed through GDSs.
Gross Bookings
The increase in domestic gross bookings for the year ended December 31, 2014 was driven by higher average booking
values for air, hotels, vacation packages and car rentals and higher volume for air, hotels and car rentals. The TPN acquisition
contributed approximately 9 percentage points of gross bookings growth for the year ended December 31, 2014. The increase
in international gross bookings for the year ended December 31, 2014 was driven primarily by higher volume for air, hotels and
vacation packages and higher average booking values for hotels, partially offset by lower average booking values for air and
vacation packages.
For the year ended December 31, 2013 compared with the year ended December 31, 2012, the increase in domestic gross
bookings was driven primarily by higher airfares, higher average booking values and higher volume for both hotels and
vacation packages, and higher average car rental booking values, partially offset by lower air volume. The increase in
international gross bookings for the year ended December 31, 2013 was driven primarily by higher airfares, higher hotel and
vacation package volume, and higher average booking values for hotels, partially offset by lower air volume.