Booking Holdings' hotel bookings finally eclipse pre-pandemic levels
The company delivered a Q4, driven by changes in its payments strategy and digital booking capabilities, notably its mobile app
On its Q4 2022 earnings call Thursday (Feb. 23), Booking Holdings CEO Glenn Fogel noted that “for the first time, we saw room nights across all of our major regions above 2019 levels for the quarter.” The Q4 totals contributed to “an all-time high” of nearly 900 million room nights booked on its platforms for full-year 2022 — an improvement of 52% versus 2021.
Key takeaways
- The company processed 42% of Booking.com’s gross bookings on a merchant basis;
- Airline tickets booked with the company’s “flights” product in Q4 were up about 249% versus a small base in 2019, and up about 61% versus 2021;
- Highlighting the U.S. market, he said higher usage of Booking.com and Priceline contributed to U.S. room night growth “of almost 30% and gross bookings growth of about 60% in 2022 versus 2019.
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