Acquisitions are the linchpin of Booking Holdings' growth strategy. These days, its portfolio includes companies like Booking.com, Priceline.com, Kayak, OpenTable and many more, making it one of the biggest companies in the global
. With business in almost every area of the travel market, it is not a shock that the
has skyrocketed in recent years, rebounding significantly after the health crisis and reaching well over pre-pandemic levels in 2023.
Is Booking Holdings the biggest online travel company in the world?
With its businesses spanning from holiday price comparison to accommodation, flights, car rental, and restaurant bookings, Booking Holdings has cornered most segments of the travel market. This strategic expansion led the company to record the
highest revenue of any online travel agency (OTA) in 2023, at around 21.4 billion U.S. dollars. It also had the
highest market cap of any online travel company worldwide that year, reaching around 112.8 billion U.S. dollars.
Some of Booking Holdings’ biggest competitors include the
Expedia Group,
Airbnb, and
Tripadvisor.
What is Booking Holdings’ most successful subsidiary?
Online travel agency, Booking.com was the
most visited travel and tourism website worldwide, with well over 500 million online visitors in 2024. Not only that, it was also the
most downloaded online travel agency app worldwide in 2023, with around 76 million aggregated downloads on iOS and Google Play.
However, Booking.com is not always so popular. In 2023, Booking.com was accused of payment delays that left accommodation hosts significantly out of pocket, straining an already somewhat contentious relationship with smaller businesses that feel forced to pay commission to third party booking platforms.
Digitalization of the travel industry: impact on Booking Holdings
While traditional brick-and-mortar travel agencies have struggled because of the
digitalization of the travel industry, OTAs like Booking Holdings have grown stronger. In 2024, CEO Glen Fogel said he felt that
artificial intelligence (AI) would be a powerful driver of future growth for the company. This can be seen in the implementation of Booking.com’s “AI Trip Planner” on its mobile app. Staying on top of technological advancements and trends has been a large part of the company’s past growth strategy; a trend that looks to continue in future.
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