Lodging revenue increased 3% primarily due to an increase in room nights stayed in our hotel business, partially offset by a decrease in ADRs stayed.

Air revenue decreased 7% primarily due to lower average ticket prices, partially offset by higher air tickets sold.

Advertising and media - EG revenue increased 20% by adding more partners for our display offerings and sponsored listings, optimizing our existing products.

The company recognized $26 million in restructuring and related reorganization charges during the three months ended March 31, 2025, as they continue to recalibrate resources.

Cost of revenue remained consistent during the three months ended March 31, 2025, as ongoing initiatives continued to drive transactional efficiencies, particularly in customer service.

Technology and content expense decreased $21 million primarily due to lower salary and personnel costs as well as initiatives to optimize cloud spending.

Global macroeconomic and geopolitical pressures, including trade disruptions, currency fluctuations and energy price volatility, have contributed to an increasingly complex business environment and uncertainty for the travel industry.

Domestic and international taxing authorities have in recent years become increasingly focused on ways to increase tax revenue, including the enactment of new taxes such as digital services taxes.

Expedia Group and its subsidiaries are parties to legal proceedings and claims involving property, tax, personal injury, contract, alleged infringement of third-party intellectual property rights and other claims.

The market opportunity for online travel is broad and highly competitive, with emerging markets presenting attractive growth opportunities while attracting many competitors.

Lodging accounted for 77% of total worldwide revenue in the first quarter of 2025.

Certain hotel chains have been focusing on driving direct bookings on their own websites and mobile applications by advertising lower rates and incentives.

Cost of revenue remained consistent during the three months ended March 31, 2025, compared to the same period in 2024, as ongoing initiatives continued to drive transactional efficiencies, particularly in customer service.

Technology and content expense decreased $21 million during the three months ended March 31, 2025, compared to the same period in 2024, primarily due to lower salary and personnel costs as well as initiatives to optimize cloud spending.

General and administrative expense during the three months ended March 31, 2025 remained relatively consistent as compared to the same period in 2024.

Expedia Group unified its technology, product, data engineering, and data science teams to build services and capabilities that can be leveraged across our business units to provide value-add services to our travel suppliers and serve our end customers.

As we continue to mature our shared platform infrastructure, our focus is on developing configurable technical capabilities that support various travel products while using simpler, standard architecture and common applications and frameworks.

Depreciation increased $13 million during the three months ended March 31, 2025, primarily as a result of increased depreciation related to capitalized website development costs.

As of March 31, 2025, $2.9 billion remains authorized for repurchase under the 2023 Share Repurchase Program.

During the first quarter of 2025, the Board of Directors approved the reinstatement of quarterly common stock dividends.

In February 2025, we issued $1 billion of registered senior unsecured notes that bear interest at 5.40% and are due in February 2035.

The provided 10-Q filing does not contain specific information regarding Environmental, Social, and Governance (ESG) initiatives undertaken by Expedia Group.

During the first quarter of 2025, we experienced weaker than expected travel demand in the U.S.

Global macroeconomic and geopolitical pressures, including trade disruptions, currency fluctuations and energy price volatility, have contributed to an increasingly complex business environment and uncertainty for the travel industry.

The market opportunity for online travel is broad and highly competitive, with emerging markets presenting attractive growth opportunities while attracting many competitors.