Expedia Group
Q1 2023 Earnings Call
May 04, 2023, 4:30 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good day, everyone, and welcome to the Expedia Group Q1 2023 financial results teleconference. My name is Emily, and I'll be the operator for today's call. [Operator instructions] For opening remarks, I will turn the call over to Senior Vice President, Corporate Development, Strategy, and Investor Relations Harshit Vaish. Please go ahead.
Harshit Vaish -- Senior Vice President, Corporate Development, Strategy, and Investor Relations
Good afternoon. Welcome to Expedia Group's earnings call for the first quarter of 2023 that ended March 31. I'm pleased to be joined on the call today by our CEO, Peter Kern; and our CFO, Julie Whalen. The following discussion, including responses to your questions, reflects management's view as of today, May 4, 2023, only.
We do not undertake any obligation to update or revise this information. As always, some of the statements made on today's call are forward-looking, typically preceded by words, such as we plan, we expect, we believe, we anticipate, we are optimistic or confident that, or similar statements. Please refer to today's earnings release and the company's filings with the SEC for information about factors which could cause our actual results to differ materially from these forward-looking statements. You will find reconciliation of non-GAAP measures to the most comparable GAAP measures discussed today in our earnings release, which is posted on the company's Investor Relations website at ir.expediagroup.com.
And I encourage you to consistently visit our IR website for other important information. Unless otherwise stated, any reference to expenses exclude stock-based compensation. And with that, let me turn the call over to Peter.
Peter Kern -- Chief Executive Officer
Thank you, Harshit, and good afternoon, and thank you all for joining us today. As I mentioned last quarter, this year marks the final phase in our major platform transformation journey, and I'm pleased to have started the year with strong performance. We posted our highest-ever quarter for lodging gross bookings and free cash flow and our best first quarter for revenue. Throughout the quarter, we saw strong consumer demand with acceleration in international and big city travel and more of Asia reopening.
The reemergence of major international cities has meant increased hotel demand, offset in part by flattening demand in vacation rentals as travel demand mix to shorter stay urban destinations over extended beach and mountain trips. Similarly, air has continued to mix toward international travel and away from COVID era concentration in domestic. By and large, prices have held up quite well after several years of inflation. We've seen lodging ADRs hold fairly steady across geos.