Booking Holdings Inc.
Booking Holdings Inc., together with its subsidiaries, provides online and traditional travel and restaurant reservations and related services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates Booking.com, which offers online accommodation reservations; and Priceline, which provides discount travel reservations services, as well as online accommodation, flight, rental car reservation services, vacation packages, cruises, activity, and affiliate programs. It also operates Agoda that offers online accommodation reservation, flight, ground transportation, and attractions. In addition, the company operates KAYAK, an online meta-search service that allows consumers to search and compare travel itineraries and prices; and OpenTable for booking online restaurant reservations, as well as reservation management services to restaurants. Further, it offers travel-related insurance products, payment facilitation, and restaurant management services to consumers, travel service providers, and restaurants; and advertising services. The company was formerly known as The Priceline Group Inc. and changed its name to Booking Holdings Inc. in February 2018. Booking Holdings Inc. was founded in 1997 and is headquartered in Norwalk, Connecticut.
What does it do?
Booking Holdings owns the websites and apps you use to book hotels, flights, and rental cars when you travel — most famously Booking.com and Priceline. Think of it as the world's biggest travel agent, except it's all online. If you've ever searched 'hotels in Barcelona' and ended up on Booking.com, you've used their product. They operate in virtually every country on earth, listing over 28 million accommodation options from luxury hotels to tiny guesthouses.
Global travel demand has fully rebounded from COVID and is now hitting record highs, which means Booking Holdings is processing more transactions than ever before. With a $128 billion market value, it's one of the largest consumer internet companies in the world, sitting at the centre of a multi-trillion dollar travel industry. Investors are watching closely because it's also aggressively integrating AI into its apps, which could fundamentally change how people plan and book trips.
How does it make money?
Booking Holdings makes most of its money by taking a commission every time someone books a hotel, flight, or rental car through one of its platforms. When you book a €200 hotel room on Booking.com, the company typically keeps around 15% of that as a fee — the hotel pays it, not you. Revenue grew from $23.7 billion to $26.9 billion in the latest year, a jump of roughly 13%, and the company kept $5.4 billion of that as profit. They also earn money from advertising, where smaller travel companies pay to appear prominently in search results.
Why do investors care?
The core growth story is simple: more people are travelling, and more of them are booking online rather than through traditional travel agents or calling hotels directly. Booking Holdings dominates Europe especially, where Booking.com is the default tool for accommodation search. The exciting next chapter is AI — the company is building an 'AI Trip Planner' that could make the whole travel planning experience feel like chatting with a knowledgeable friend, which could keep users on their platforms longer and increase how much they spend per trip.
Deep Dive
MemberA full investor briefing on Booking Holdings Inc. — history, leadership, risks, and outlook.