Booking Holdings Inc. is a travel company headquartered in Norwalk, Connecticut, USA. The company includes booking services and price aggregators Booking.com, Priceline.com, Agoda.com, Kayak.com, Rentalcars.com, and OpenTable.
The company was founded in 1997 by Jay S. Walker as Priceline.com Incorporated (The Priceline Group since 2014). The website provided accommodation booking services at a price set by the user. In 1999, the company held an IPO at $16 per share on the NASDAQ stock exchange. In 2018, the company changed its name to Booking Holdings with the ticker #BKNG.
The price of Booking Holdings shares is quite high. In March 2020, the share price was $1125; in 2022, it was $2046. The company does not pay dividends but prefers to invest in developing its services. This is relevant after the COVID-19 pandemic of 2020, which caused severe damage to the entire tourism sector.
Booking Holdings' revenue in 2019 was $15 billion. During the 2020 pandemic, the figure almost halved to $7 billion. In 2021, revenue rose to 11 billion.
According to 2017 data, 89% of the holding's gross profit was made outside the United States. Most of the revenue came from Booking.com. 93% is booking commission, and 7% is advertising revenue.
To determine the future value of the #BKNG stock price, traders need to analyze the company's financial data and important news about its internal events. For example, institutional investors own about 40% of Booking Holdings' assets. If one of them decides to sell their share, this will strongly impact the #BKNG value. It is also worth keeping an eye on large acquisitions, as the holding often buys other companies.
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Booking.com is a Dutch online travel agency headquartered in Amsterdam. It was bought out by the holding in 2005 for $133 million, making it one of the largest deals in the early 00s.
Booking Holdings operates in 200 countries in 40 different languages. According to 2019 data, the total number of accommodation bookings amounted to 845 million, and car rentals to 77 million. In addition, 7 million air tickets were purchased using the holding's services.
The management of the company has changed several times. After the 1999 IPO, Booking Holdings founder Jay S. Walker became a multimillionaire and left his position a year later. He was replaced by Jeff Boyd, who remained in office until 2014. After him, Darren Houston took over the post, but two years later, he was forced to leave because of the scandal. Jeff Boyd had to return to acting as the head of the holding until Glenn D. Vogel became CEO in 2017.
In 2020, the UN included Booking Holdings and its website Booking.com in the list of commercial organizations that provided services in the Palestinian territories occupied by Israel. From the point of view of the world community, these settlements violate international law. In addition to Booking Holdings, 111 other companies are mentioned in the UN list.
At various times, the holding was engaged in retailing food products, selling gasoline and cars, and providing mortgage loans. In 2000, Booking Holdings focused exclusively on travel services and closed other divisions. In 2019, the company entered the Fortune 500, a ranking of American corporations with the highest annual revenue. Booking Holdings is ranked 216th with revenue of $15 billion.