Two travel giants raised $4 Billion to ride out the pandemic. Only one needed it.

Fox Business | Nov 21, 2020 at 3:49 PM
  • For travelers looking to book a flight or hotel room, and look a lot alike.
  • Though revenue plunged over the summer and the company had to issue some refunds, most of the cash Booking raised in the spring added to its reserves.
  • Expedia, which generated about 80% as much revenue as Booking did in 2019, held a smaller cash cushion before the crisis and burned through much of the funds raised in the spring.