BKNG - Booking Holdings: The Greatest Reason to Buy That No One Talks About
2024-05-23 06:30:00 ET
People love traveling. It's an opportunity to relax, see new places, be adventurous, party, or escape the daily grind. Some 40% of Americans plan to travel more in 2024 than they did in 2023, according to Forbes . Many will use online travel agencies (OTAs) like Booking.com, Priceline, KAYAK, or Agoda, all of which fall under the Booking Holdings (NASDAQ: BKNG) umbrella.
Most people book their travel online, and the percentage is growing -- OTAs account for nearly 40% of these bookings. This percentage is even higher with millennials and Gen Y, which is an excellent sign for Booking's growth runway. Many travelers prefer the convenience of OTAs, which allow travelers to book flights, hotels, rental cars, and experiences in one place, often at a discount.
Booking also supports short-term rentals (it calls them alternative accommodations). There were 3 million alternative accommodations on the site at the end of the first quarter (up 7% year over year), accounting for 36% of Booking.com's room nights booked. The breadth of offerings makes Booking a one-stop shop for everything travel-related .
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Booking Holdings: The Greatest Reason to Buy That No One Talks About