Booking expects room nights growth to ease, shares fall
Online travel agency Booking Holdings (BKNG.O), opens new tab forecast lower room nights growth in the third quarter after beating analysts' estimates for second-quarter revenue and profit, sending its shares down 8% after the bell.The booking window shrank in the second quarter and is expected to shrink further in the third quarter, the parent of booking.com and priceline brands said on a post-earnings call.Booking window, an important metric in the travel industry, refers to the number of days between the reservation date and actual arrival. A higher booking window indicates strong occupancy and revenue guaranteed in advance. The company forecast third-quarter room night growth to be between 3% to 5%, compared to 7.1% growth in the second quarter and 14.9% growth in the year-ago quarter.
