- Concerns over the new Omicron variant of COVID-19 and travel restrictions caused a spike in cancellation rates, hitting growth in traffic related to holiday travel planning, online hotel search platform trivago NV TRVG, Reuters reports.
- The cancellation rates surged 35% since November, with holiday travel-planning-related traffic falling 10%.
- Most travelers chose domestic destinations.
- The overall traffic around holiday travel planning slowed, growing by 4% since the variant erupted.
- British Prime Minister Boris Johnson's warning of a "tidal wave" of new cases, the country reporting the first publicly confirmed death, has triggered widespread panic.
- Price Action: TRVG shares traded lower by 3.79% at $2.03 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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