Booking Holdings

Last updated
Booking Holdings Inc.
Formerly
  • Priceline.com Incorporated (1998–2014)
  • The Priceline Group Inc. (2014–2018)
Company type Public
Industry
Founded1996;28 years ago (1996) [1]
Founder Jay S. Walker
Headquarters
Norwalk, Connecticut
,
U.S.
Key people
Products
RevenueIncrease2.svg US$21.37 billion (2023)
Increase2.svg US$5.835 billion (2023)
Increase2.svg US$4.289 billion (2023)
Total assets Decrease2.svg US$24.34 billion (2023)
Total equity Decrease2.svg US$−2.74 billion (2023)
Number of employees
Increase2.svgc. 23,600 (2023)
Website bookingholdings.com
Footnotes /references
[2]

Booking Holdings Inc. is an American travel technology company incorporated under Delaware General Corporation Law and based in Norwalk, Connecticut, that owns and operates several travel fare aggregators and travel fare metasearch engines including namesake and flagship Booking.com, Priceline.com, Agoda, Kayak, Cheapflights, Rentalcars.com, Momondo, and OpenTable. It operates websites in about 40 languages and 200 countries.

Contents

The company is ranked 243rd on the Fortune 500 list of the largest United States corporations by revenue. [3] The company primarily derives its revenue from commissions, with a small portion derived from advertising. [2] In 2023, consumers booked 1,049 million room nights of accommodation, 74 million rental car days, and 36 million airplane tickets using websites owned by Booking Holdings. [2] : 43 

History

In 1996, Jay S. Walker founded the company in Stamford, Connecticut, which launched Priceline.com, an online travel site, that used a Name Your Own Price bidding model. [4]

In 1999, the company became a public company via an initial public offering, making Walker, who owned a 35% stake in the company, a multi-billionaire. [5] [4]

The company experimented with selling other products and services such as groceries, gasoline, home mortgages, and cars, but these offerings were discontinued in 2000. [6] [7]

On April 1, 2014, the name of the company was changed from priceline.com Incorporated to The Priceline Group Inc. [2]

In August 2017, KAYAK acquired the assets of Mundi, a Brazilian metasearch company. [8] [9]

On February 21, 2018, the name of the company was changed from The Priceline Group Inc. to Booking Holdings. [10] [11]

The company offered to acquire GoToGate; however, the deal was blocked by European regulators. [12]

Management and finances

CEOs

Jeffery H. Boyd was named chief executive officer in 2002 and remained in that role until becoming chairman of the board for Booking Holdings in 2013. [13]

Effective January 1, 2014, Darren Huston was named chief executive officer of the company, replacing Jeff Boyd. [14] On April 28, 2016, Huston was forced to resign following an undisclosed personal relationship with an employee, and Boyd was named interim CEO. [15]

Effective January 1, 2017, Glenn D. Fogel was named chief executive officer and president. [16]

Finances

The key trends for Booking Holdings are (as at the financial year ending December 31): [17]

Revenue (US$ bn)Net profit (US$ bn)Total assets (US$ bn)Employees
201610.72.119.818.500
201712.62.325.422.900
201814.53.922.624.500
201915.04.821.426.400
20206.70.0621.820.300
202110.91.123.620.300
202217.03.025.321.600

Acquisitions

#YearCompanyPriceRef(s).
1997 Priceline.com [18]
12004Major stakes in Travelweb and Active Hotels [19]
22005 Booking.com $133 million [18]
32007 Agoda.com [20]
42010TravelJigsaw / Rentalcars.com [21]
52013 Kayak.com $1.8 billion [22]
62014 OpenTable $2.6 billion [23]
72014Buuteeq and Hotel Ninjas$98 million [24]
82015Rocketmiles [25]
92017 Momondo and Cheapflights $550 million [26]
102017Mundi [27]
112018FareHarbor$250 million [28]
122018Minority stake in DiDi $500 million [29]
132018 HotelsCombined $140 million [30]
142019Venga [31]
152022Getaroom$1.2 billion [32]

Related Research Articles

Travelocity.com is an online travel agency owned by the American Expedia Group. It has 12.4 million monthly unique visitors, making it the third most popular website owned by Expedia Group, after Expedia.com and Hotels.com.

Sabre Corporation, a travel technology company headquartered in Southlake, Texas, is the largest global distribution systems (GDS) provider for air bookings. The company's primary product, the Sabre Global Distribution System, and others like it, act as neutral intermediaries, connecting travel suppliers like airlines and hotels with travel sellers like agencies. They offer real-time availability and pricing, making them important for corporate travel management.

Priceline.com is an online travel agency for finding discount rates for travel-related purchases such as airline tickets and hotel stays. The company facilitates the provision of travel services from its suppliers to its clients. Priceline.com is headquartered in Norwalk, Connecticut, United States and is wholly owned by Booking Holdings, which also owns Kayak.com, Booking.com and other sites. The company was founded in 1997. It operates in more than 200 countries and territories around the world and has partnerships with over 400 airlines and 300,000 hotels. Users can search for travel deals and discounts on the website, and in the past also offered the "Name Your Own Price" feature to bid on hotel rooms and flights.

Tripadvisor, Inc. is an American company that operates online travel agencies, comparison shopping websites, and mobile apps with user-generated content.

Cheapflights is a travel fare metasearch engine. The website is part of the Kayak.com subsidiary of Booking Holdings.

<span class="mw-page-title-main">Kayak (company)</span> Travel metasearch engine owned and operated by Booking Holdings

Kayak is a metasearch engine for travel services, including airline flights, hotels, rental cars, and vacation packages. It is owned and operated by Booking Holdings.

<span class="mw-page-title-main">Travelport</span> Smallest, by revenue, of the top three global distribution systems

Travelport Worldwide Ltd provides distribution, technology, and payment solutions for the travel and tourism industry. It is the smallest, by revenue, of the top three global distribution systems (GDS) after Amadeus IT Group and Sabre Corporation.

<span class="mw-page-title-main">Agoda</span> Singaporean online travel agency

Agoda.com is an online travel agency catering primarily to consumers in the Asia-Pacific region, registered and headquarters in Singapore with operations in Bangkok, Thailand. Agoda facilitates reservations for accommodation, flights, ground transportation, and activities. It is a subsidiary of Booking Holdings.

Momondo is a travel fare aggregator and travel fare metasearch engine. momondo was founded in Denmark and is today managed by KAYAK, part of Booking Holdings.

<span class="mw-page-title-main">Booking.com</span> Dutch online travel agency

Booking.com is one of the largest online travel agencies. It is headquartered in Amsterdam, and is a subsidiary of Booking Holdings. Its mobile app is the most downloaded mobile app in the travel agency category, however it has some of the worst ratings on the internet with Trust Pilot rating it 1.4 stars. Booking.com provides lodging reservation services for approximately 3.4 million properties, including 475,000 hotels, motels, and resorts and 2.9 million homes, apartments in over 220 countries and territories and in over 40 languages. It also sells flights in 55 markets and tours and activities in more than 1,300 cities. However the success comes at a cost, many hotel partners say they don't get paid for months at a time, leaving small hoteliers out of pocket.

Terry Jones is the founder and former CEO of Travelocity, chairman of Kayak.com, CIO of Sabre Inc., and motivational speaker. He has served on boards of Earthlink, Overture Services Corp Entrust, Inc, La Quinta Corporation, Vendare Media Smart Destinations, Boingo, Kenzie Academy, Luxury Link, Rearden Commerce, Switchfly. SonicWall, Crytica Security, Amgine, and was a special venture partner with General Catalyst Partners.

Trip.com Group Limited is a multinational travel service conglomerate with 45,000 employees. It is the largest online travel agency in China and one of the largest travel service providers in the world.

 Founded in 1999, the company owns and operates several travel fare aggregators and travel fare metasearch engines, including namesake and flagship Trip.com, Skyscanner, Qunar, Travix, and MakeMyTrip. The group operates websites in about 40 languages and 200 countries.

Rome2Rio is an Australian online multimodal transport journey planner offering travel services globally. The company is based in Melbourne, Australia, and is owned by the German online travel comparison and booking website Omio.

<span class="mw-page-title-main">Tripping.com</span> Online search engine

Tripping.com, a subsidiary of HomeToGo, is an online search engine and review aggregator for vacation rentals. It aggregates over 10 million listings in more than 150,000 cities worldwide. It is based in San Francisco, California. Tripping.com partners with and displays listings from booking websites including Booking.com, HomeAway, Vrbo, FlipKey, Roomorama, Interhome, Novasol, Wimdu, ZenRentals, Bedycasa, WayToStay, Gloveler, HolidayVelvet, 9flats, AlwaysOnVacation, RedAwning, and Housetrip. Users can search by price, ratings, location and features and amenities.

eDreams ODIGEO is a Spanish online travel company that was formed in 2011 as the successor of eDreams with the merger of online travel agencies eDreams and GO Voyages, and the acquisition of Opodo.

Lastminute.com N.V. is the owner of several travel brands including lastminute.com, Volagratis, Rumbo, Bravofly, Jetcost, Crocierissime.it, weg.de, and Hotelscan.

Philip C. Wolf was an American entrepreneur and executive known for his work in the travel, tourism and hospitality industry. The founder and former CEO of travel industry research firm PhoCusWright, Wolf served as board director and advisor to multiple travel and technology companies.

Trip.com is a multinational travel service conglomerate with 45,000 employees. It is one of the world's largest online travel agencies with over 400 million users worldwide, and also the parent of Skyscanner. It is headquartered in Singapore.

<span class="mw-page-title-main">Darren Huston</span> Canadian businessman

Darren R. Huston is a Canadian businessman. He is the founder and chief executive officer (CEO) of BlackPines Capital Partners. Huston was previously president and CEO of Priceline and Booking.com.

RedAwning is an American online travel agency that enables users to search and book vacation homes.

References

  1. ↑ "Booking.com: The largest selection of hotels, homes, and vacation rentals". Booking.com.
  2. 1 2 3 4 "Booking Holdings 2023 Annual Report Form (10-K)". U.S. Securities and Exchange Commission. February 22, 2024.
  3. ↑ "Booking Holdings" . Fortune .
  4. 1 2 Weber, Thomas E.; Petersen, Andrea (April 1, 1999). "Priceline's Initial Public Offering Turns Founder Into Billionaire" . The Wall Street Journal .
  5. ↑ Piskora, Beth (March 31, 1999). "Priceline Blasts Off – Online Ticketing Enterprise IPO Up 3 331%". The New York Post .
  6. ↑ Brooks, Nancy Rivera (October 5, 2000). "Priceline.com to Put Gas Up for Bid on Web". Los Angeles Times .
  7. ↑ "Priceline Runs Out of Gas, Groceries". CBS News . February 26, 2000.
  8. ↑ McDonald, Michele (August 3, 2017). "Kayak acquires Brazilian travel metasearch site Mundi". Phocuswire.
  9. ↑ O'Neill, Sean (August 4, 2017). "Kayak Acquires Assets of Struggling Brazilian Metasearch Company Mundi". Skift .
  10. ↑ Josephs, Leslie (February 21, 2018). "Online travel giant Priceline Group changes name to Booking Holdings". CNBC .
  11. ↑ VANIAN, JONATHAN (February 21, 2018). "Why Priceline Group Is Changing Its Name to Booking Holdings". Fortune .
  12. ↑ Schaal, Dennis (October 3, 2023). "After Booking Deal Went Bust, Etraveli CEO Says Price 'No Longer in Play'". Skift .
  13. ↑ Lincoln, Kevin (January 19, 2012). "Meet The Man Who Turned Priceline Into A $24 Billion Company". Business Insider .
  14. ↑ Clampet, Jason (November 7, 2013). "Priceline Replaces CEO With Booking.com Boss". Skift .
  15. ↑ "Priceline Group CEO Darren Huston Resigns; Chairman Jeffery H. Boyd Appointed Interim CEO" (Press release). PR Newswire. April 28, 2016.
  16. ↑ "The Priceline Group Names Glenn Fogel CEO" (Press release). PR Newswire. December 15, 2016.
  17. ↑ "Booking Holdings Fundamentalanalyse | KGV | Kennzahlen". boerse.de (in German).
  18. 1 2 O'Neill, Sean (October 2, 2012). "Why Priceline's Purchase of Booking.com Was the Most Profitable Deal of the 2000s". Phocuswire.
  19. ↑ "Priceline Posts Profit, Buys Travelweb" . The Wall Street Journal . May 3, 2004.
  20. ↑ "Priceline.com Acquires Asian Online Hotel Reservation Service Company Agoda". Reuters . November 8, 2007.
  21. ↑ Schaal, Dennis (May 18, 2010). "Priceline Acquires Car Rental Firm Travel Jigsaw As Part of Expansion Drive". Phocuswire.
  22. ↑ Lardinois, Frederic (November 8, 2012). "Priceline.com Acquires Kayak For $1.8 Billion, Will Allow Kayak To Continue To Operate Independently". TechCrunch .
  23. ↑ Sharf, Samantha (June 13, 2014). "Priceline Reserves OpenTable for 2.6 Billion". Forbes .
  24. ↑ Schaal, Dennis (August 11, 2014). "Priceline Group Paid $98 Million for Buuteeq and Hotel Ninjas". Skift .
  25. ↑ Elahi, Amina; Karp, Gregory (February 19, 2015). "Priceline to acquire Chicago startup Rocketmiles, says report" . Chicago Tribune .
  26. ↑ "The Priceline Group Completes the Acquisition of Momondo Group" (Press release). PR Newswire. July 24, 2017.
  27. ↑ O'Neill, Sean (4 August 2017). "Kayak Acquires Assets of Struggling Brazilian Metasearch Company Mundi". Skift .
  28. ↑ "Booking Holdings Announces it has Signed an Agreement to Acquire FareHarbor" (Press release). PR Newswire. April 19, 2018.
  29. ↑ Cadell, Cate (July 17, 2018). "China's Didi gets $500 million funding from Booking.com parent". Reuters .
  30. ↑ Schaal, Dennis (August 13, 2018). "Booking Holdings Bought HotelsCombined for Only $140 Million". Skift .
  31. ↑ "Booking Holdings Agrees to Acquire Venga" (Press release). PR Newswire. May 2, 2019.
  32. ↑ Schaal, Dennis (November 12, 2021). "Booking Holdings Buys Getaroom for $1.2 Billion to Expand Partnerships". Skift .
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.