Booking Holdings

What does Booking Holdings own?
Booking Holdings owns Booking.com (world's largest online accommodation platform), Priceline (U.S. online travel agency), Agoda (Asian hotel booking), KAYAK (travel metasearch), OpenTable (restaurant reservations), and Rentalcars.com. Booking.com is the company's largest and most important brand.

Is Booking Holdings publicly traded?
Yes, Booking Holdings Inc. trades on NASDAQ under ticker symbol BKNG. The company has no controlling shareholder, with ownership distributed among institutional investors including Vanguard Group and BlackRock.

What is Booking Holdings' annual revenue?
In FY2024, Booking Holdings reported gross travel bookings of approximately $166 billion, up 10% year-over-year, and adjusted earnings of more than $8 billion, up 17% year-over-year. Adjusted EBITDA was approximately $9.94 billion.

Who founded Booking Holdings?
Booking Holdings was founded in 1997 by Jay Walker as Priceline.com in Norwalk, Connecticut. The company was renamed Booking Holdings in 2018 to reflect the prominence of Booking.com, which was acquired in 2005 for approximately $133 million and grew to become the world's largest online accommodation platform.

What is Booking.com?
Booking.com is the world's largest online accommodation booking platform, offering more than 28 million listings of hotels, apartments, homes, and other accommodations in more than 220 countries and territories. It is headquartered in Amsterdam, Netherlands, and is the dominant brand in European online hotel booking.

What is the Connected Trip?
The Connected Trip is Booking Holdings' strategic vision to integrate all aspects of travel planning and booking across its brands, allowing travelers to plan, book, and manage their entire trip (flights, accommodation, car rental, activities, dining) through a seamless, personalized experience powered by AI and data.

Booking Holdings was founded in 1997 by Jay Walker as Priceline.com in Norwalk, Connecticut. Walker's concept was a "name your own price" model for travel, in which consumers would submit a bid for airline tickets or hotel rooms and Priceline would attempt to match the bid with a willing supplier. The model was innovative and generated significant media attention, with William Shatner serving as the company's spokesperson in memorable television commercials.

Priceline.com went public in March 1999 during the dot-com boom, with its stock rising dramatically on its first day of trading. The company's market capitalization briefly exceeded that of major airlines. However, the dot-com bust in 2000-2001 caused Priceline's stock to fall more than 99% from its peak, and the company struggled to find a sustainable business model.

The transformative acquisition came in 2005, when Priceline acquired Booking.com, a Dutch hotel booking platform founded in Amsterdam in 1996, for approximately $133 million. At the time, Booking.com was a small European hotel booking site. Under Priceline's ownership, Booking.com grew explosively, expanding its hotel inventory and geographic coverage to become the world's largest online hotel booking platform.

Priceline continued its acquisition strategy, acquiring Agoda in 2007 (a Bangkok-based hotel booking platform focused on Asian markets), KAYAK in 2012 (a travel metasearch engine that allows users to compare prices across multiple booking sites), and OpenTable in 2014 (a restaurant reservation platform). The company renamed itself Booking Holdings in 2018 to reflect the prominence of Booking.com within its portfolio.

Glenn Fogel became CEO in January 2017, succeeding Darren Huston. Fogel had been with the company since 2000 and had led the acquisitions of Booking.com, Agoda, KAYAK, and OpenTable. Under Fogel's leadership, Booking Holdings has focused on the "Connected Trip" vision, which aims to integrate all aspects of travel planning and booking across the company's brands.

The COVID-19 pandemic severely disrupted Booking Holdings' business in 2020, as global travel demand collapsed. The company's gross bookings fell approximately 55% in 2020. Booking Holdings responded by reducing costs and headcount, and the business recovered strongly as travel resumed in 2021 and 2022.

In FY2024, Booking Holdings reported gross travel bookings of approximately $166 billion, up 10% year-over-year, reflecting continued strong travel demand globally.

Booking Holdings has established comprehensive sustainability and ethics initiatives focused on carbon neutrality, sustainable travel, responsible business practices, and community engagement. As the world's largest online travel company, Booking Holdings recognizes its responsibility to drive sustainable tourism while maintaining business growth and customer satisfaction.

Climate Action and Carbon Neutrality

Booking Holdings has committed to ambitious climate targets validated by the Science-Based Targets initiative (SBTi). The company aims to achieve near-zero emissions for its own operations by 2030 and net-zero emissions by 2040. Booking Holdings' 2040 net-zero target includes reducing absolute Scope 1 & 2 emissions by 95% and absolute Scope 3 emissions by 50% against a 2019 baseline by 2030. The company aims to maintain Scope 1 & 2 emissions reduction through 2040 while reducing absolute Scope 3 emissions by 90% against the 2019 baseline by 2040.

Sustainable Travel Industry Leadership

Booking Holdings recognizes the critical need to work with peers and partners to create a more sustainable travel ecosystem. The company leverages its capacity to touch the journeys of millions of travelers each year to promote sustainable tourism practices. Booking Holdings' sustainability strategy encompasses three pillars: Sustainable Operations, More Sustainable Travel, and Sustainable Industry. The company works with accommodation partners to promote environmentally friendly practices and supports travelers in making sustainable travel choices.

Responsible Business Practices and ESG Excellence

Booking Holdings maintains strong ESG performance and has been recognized as an ESG leader in the travel industry. The company publishes comprehensive sustainability reports detailing its environmental, social, and governance initiatives. Booking Holdings' responsible business practices include data privacy protection, ethical marketing practices, and transparent reporting on sustainability performance. The company's governance structure includes oversight of sustainability initiatives and ethical business conduct.

Technology and Innovation for Sustainability

Booking Holdings invests in technology and innovation to support sustainability goals, including artificial intelligence to optimize travel routes and reduce environmental impact. The company was among the first travel companies to integrate with OpenAI's Operator, an AI agent capable of completing tasks on behalf of users, including travel bookings. Booking Holdings uses data analytics and machine learning to promote sustainable travel options and optimize energy consumption across its platforms.

Community Engagement and Social Impact

Booking Holdings engages with communities through various initiatives focused on education, local economic development, and cultural preservation. The company supports tourism destinations in developing sustainable practices and preserving cultural heritage. Booking Holdings' community programs include partnerships with local organizations, educational initiatives, and disaster relief efforts in travel-affected regions.

Booking Holdings has received extensive recognition for its leadership in sustainable travel, ESG performance, corporate responsibility, and innovation in the travel technology sector, reflecting its position as an industry leader in advancing sustainable tourism.

Sustainability and ESG Leadership

• Science-Based Targets Initiative Validation: Recognition for climate targets aligned with global climate goals and commitment to net-zero emissions by 2040
• ESG Leader Recognition: Multiple awards for strong ESG performance and sustainability leadership in the travel industry
• Carbon Neutrality Leadership: Recognition for ambitious 2030 near-zero emissions target and comprehensive climate action plan
• Sustainable Travel Innovation: Awards for pioneering sustainable travel initiatives and promoting environmentally friendly tourism practices

Technology and Innovation Recognition

• AI Integration Leadership: Recognition as one of the first travel companies to integrate with OpenAI's Operator for travel booking automation
• Connected Trip Vision: Awards for innovative integrated travel planning and booking experience across multiple brands
• Technology Excellence: Recognition for data analytics, machine learning applications, and platform optimization
• Digital Innovation: Awards for digital transformation and technology-driven customer experience improvements

Corporate Responsibility and Workplace Recognition

• Ethical Business Practices: Recognition for strong corporate governance and ethical business conduct in the travel industry
• Workplace Excellence: Awards for employee development, workplace culture, and inclusive workplace practices
• Community Engagement: Recognition for community partnership programs and social responsibility initiatives in tourism destinations
• Data Privacy and Security: Awards for protecting customer data and maintaining high cybersecurity standards

Travel Industry Leadership

• Online Travel Leadership: Recognition as the world's largest online travel company by gross bookings
• Brand Excellence: Multiple awards for brand strength across Booking.com, Priceline, Agoda, KAYAK, and OpenTable
• Financial Performance: Recognition for strong financial performance and sustainable business practices
• Customer Satisfaction: Awards for customer service excellence and traveler satisfaction across booking platforms

Booking Holdings and Booking.com have faced regulatory scrutiny in multiple markets related to their market power and practices. European competition authorities have investigated Booking.com's "parity clauses," which required hotels to offer the same or lower prices on Booking.com as on other channels. Booking.com agreed to remove these clauses in several European markets following regulatory pressure.

The company has also faced scrutiny related to its commission rates, with some hotel associations arguing that Booking.com's commissions are too high and that the platform's market power gives it excessive leverage over hotels.

In 2024, Booking Holdings faced a data breach notification requirement after a cyberattack on a third-party service provider exposed customer data.