Booking Holdings Inc. is a global provider of online travel and related services, operating a portfolio of well-known brands that include Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com, and OpenTable. The company connects consumers with a vast network of travel service providers, offering accommodation reservations, flights, rental cars, ground transportation, and restaurant bookings. Booking Holdings operates in over 220 countries and territories and supports more than 40 languages, making it one of the largest travel marketplaces in the world.
The company's business model is primarily transaction-based, generating revenue through two main channels: merchant and agency services. In 2025, merchant revenues accounted for approximately 66% of total revenues, driven by transactions where the company facilitates payments from travelers at the time of booking. Agency revenues, which made up about 30% of total revenues, are derived from travel-related transactions where the company does not facilitate payments, consisting almost entirely of travel reservation commissions. The remaining 4% of revenue comes from advertising and other services, primarily generated by KAYAK's metasearch platform and OpenTable's restaurant management services.
Booking.com serves as the company's central accommodation platform, offering millions of property listings ranging from traditional hotels to alternative accommodations like homes and apartments. The company has increasingly focused on its "Connected Trip" strategy, aiming to provide a multi-vertical travel experience by integrating flights, accommodations, and ground transportation into a single itinerary. While the company faces intense competition from other online travel agencies, search engines, and direct supplier channels, its extensive global footprint, diverse brand portfolio, and shift toward a merchant payment model solidify its position in the global travel industry.
