Overview

Bookings are shown next to every revenue figure on purpose. Across the portfolio a market can carry meaningful revenue on very few reservations, and year-over-year percentages built on a handful of bookings move by hundreds of points for reasons that have nothing to do with demand. Where the prior-year period has fewer than five bookings the YoY cell shows — rather than a misleading number. Revenue is direct web booking revenue only — it excludes OTA, phone, travel advisor and group — and geography is the location of the device at the time of booking, not the guest's home address.