Skift Take
If the market imperative is for a company to grow, grow, grow, investors may be impatient about the pace at Booking Holdings.
In 2014, Booking Holdings — then called the Priceline Group — warned analysts that the 29% room night growth it achieved in the second quarter that year would decelerate over time.
Ten years later, during Booking's second-quarter earnings call Thursday, Booking said that its quarterly room night growth of 7% was slower than the first quarter's gain of 9% — and that the pace in the third quarter would be 3-5%.
Average daily rates also declined in the second quarter, driven by strong room night growth in Asia.
"As we look ahead to the third quarter, we believe room night grow