ABNB - This Company Is Trying to Become the Amazon of Travel and It Looks Like It's Working
2023-10-10 05:31:00 ET
There's a reason people consistently come back and shop on Amazon instead of with smaller online retailers: It's a better experience. It's that superior experience that Glenn Fogel, the CEO of Booking Holdings (NASDAQ: BKNG) , is trying to build for his company's websites in the travel industry. And it seems to be working.
Despite its leading market share, Booking grew its gross bookings faster than the competition in the second quarter, up 15% year over year. Expedia Group (NASDAQ: EXPE) grew at one-third the rate, and Airbnb (NASDAQ: ABNB) grew just 13% year over year.
Booking Holdings is growing by following the same playbook as Amazon: providing a better experience.
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This Company Is Trying to Become the Amazon of Travel, and It Looks Like It's Working