“We expect growth to moderate from the second quarter as the third quarter has a tougher prior year growth comparison.”

In context

“travel demand trends in our business so far in the third quarter. However, we recognize that comparables with the prior year will be higher in August and September. Additionally, we will remain mindful that the geopolitical dynamics and uncertainty in the broader macroeconomic environment could potentially impact consumer behavior as we have seen in the Middle East most recently. We continue to closely monitor the travel environment for any changes. Our guidance for the third quarter assumes recent FX rates for the remainder of the quarter, including the euro-U.S. dollar at 1.17. We estimate changes in FX will positively impact our third quarter U.S. dollar reported growth rates by about 4 percentage points. We currently expect third quarter room night growth to be between 3.5% and 5.5%. We expect growth to moderate from the second quarter as the third quarter has a tougher prior year growth comparison. We currently expect third quarter gross bookings to increase between 8% and 10%, including 2 percentage points of positive impact from higher flight ticket growth. We expect constant currency accommodation ADRs will be down slightly year-over-year. We currently expect third quarter revenue growth to be between 7% and 9% lower than the increase in gross bookings due to a higher mix of flight bookings as well as increased merchandise and contra revenue some of which is related to bookings made in prior quarters. We currently expect third quarter adjusted EBITDA to be between $3.9 billion and $4 billion growing 9% year-over-year at the high end. We currently expect third quarter adjusted EBITDA margins to be similar to last year. This is primarily due to marketing leverage being offset by th”