The Priceline Group made $10.7 billion in revenue in 2016 – up from $9.2 billion in 2015 – and has seen a 40% jump in adjusted EBITDA.

Agency revenues made up $7.9 billion of the overall pie.

Gross profit increased by 21% year on year to $10.3 billion during 2016.

Merchant revenues across the business increased from $613 million in 2015 to $713 million last year.

Former interim-CEO Jeff Boyd says the company’s results are based on “favourable industry dynamics” as well as increased investments in marketing, content and product.

The earnings report released today is the first since the company’s M&A guru Glenn Fogel took over the reins as CEO in December last year.

Fogel says:

“We also recorded accelerating growth in room nights booked for the full year 2016 over 2015, which reflects the benefits of our scaled accommodations platform and strong execution by our global teams.”

“We will continue to focus on growing our supply base to drive customer choice, innovating around the customer experience and investing efficiently in marketing to deliver profitable topline growth.”

At Booking.com, Fogel says the accommodation giant has added 289,000 new properties in the space of just 12 months, an increase to the overall portfolio of 33%.

A significant chunk of the inventory now comes via 590,000 vacation rental units, all of which are instantly bookable, Fogel says.

Room nights across the group (including Agoda and Priceline), in particular, continue to grow at an extremely high rate, with Q4 of 2016 seeing a 31% jump year-on-year to 129.7 million (the strong quarter for two years).

Rental car days climbed by 14.4% to 14 million y/y in Q4 2016 – the highest increase during the 12-month period but lower than the high of Q2 2015 (20.1%).

Speaking on the call with financial analysts this week, Fogel says the company hopes to maintain the continued growth in the supply of accommodation (both hotel and alternative) “organically”, rather specifically through acquisition.

Alongside continuing to focus on China through its partnership with Ctrip and the growth in its brands in East Asia, Fogel says the US remains a key target area where he concedes the company “is not number one”.