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{{short description|Online travel & related services company}} |
{{short description|Online travel & related services company}} |
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{{Infobox company |
{{Infobox company |
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| name |
| name = Booking Holdings Inc. |
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| former_name |
| former_name = {{ubl|Priceline.com Incorporated (1998–2014)|The Priceline Group Inc. (2014–2018)}} |
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| logo |
| logo = Booking Holdings Inc. Logo.svg |
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| type |
| type = [[Public company|Public]] |
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| traded_as |
| traded_as = {{ubl|{{NASDAQ|BKNG}}|[[NASDAQ-100]] component|[[S&P 100]] component|[[S&P 500]] component}} |
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| founded |
| founded = {{Start date and age|1996}}<ref>{{cite web |title=Booking.com: The largest selection of hotels, homes, and vacation rentals |url=https://www.booking.com/general.html?tmpl=docs%2Fabout |website=Booking.com |language=en-us}}</ref> |
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| founder |
| founder = [[Jay S. Walker]] |
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| location_city |
| location_city = [[Norwalk, Connecticut]] |
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| location_country = U.S. |
| location_country = U.S. |
||
| key_people |
| key_people = {{ubl|Glenn D. Fogel ([[Director (business)|director]] and [[Chief executive officer|CEO]])|David I. Goulden ([[Chief financial officer|CFO]])|Peter J. Millones, Jr. ([[General counsel]])|Paulo Pisano ([[Chief human resources officer|CHRO]])}} |
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| industry |
| industry = {{unbulleted list|[[Travel]]|[[Technology]]}} |
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| products |
| products = {{unbulleted list|[[Booking.com]]|[[Priceline.com]]|[[Agoda]]|Rentalcars.com|[[Kayak (company)|Kayak]]|[[OpenTable]]|Rocketmiles|FareHarbor|[[HotelsCombined]]|[[Cheapflights]]|[[momondo]]|[[Mundi]]}} |
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| revenue |
| revenue = {{increase}} {{US$|21.37 billion|link=yes}} (2023) |
||
| operating_income = {{increase}} US$5. |
| operating_income = {{increase}} US$5.835 billion (2023) |
||
| net_income |
| net_income = {{increase}} US$4.289 billion (2023) |
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| assets |
| assets = {{decrease}} US$24.34 billion (2023) |
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| equity |
| equity = {{decrease}} US$−2.74 billion (2023) |
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| num_employees |
| num_employees = {{increase}} {{circa|23,600}} (2023) |
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| website |
| website = {{URL|bookingholdings.com}} |
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| footnotes |
| footnotes = <ref name=10K>{{cite web| url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1075531/000107553124000014/bkng-20231231.htm |title=Booking Holdings 2023 Annual Report Form (10-K) |publisher=[[U.S. Securities and Exchange Commission]] |date=February 22, 2024}}</ref> |
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}} |
}} |
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'''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 website#Fare aggregators and metasearch engines|travel fare aggregators]] and travel fare [[metasearch engine]]s including namesake and flagship [[Booking.com]], [[Priceline.com]], [[Agoda |
'''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 website#Fare aggregators and metasearch engines|travel fare aggregators]] and travel fare [[metasearch engine]]s including namesake and flagship [[Booking.com]], [[Priceline.com]], [[Agoda]], [[Kayak (company)|Kayak]], [[Cheapflights]], Rentalcars.com, [[Momondo]], and [[OpenTable]]. It operates websites in about 40 [[language]]s and 200 countries. |
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[[Cheapflights]], [[Rentalcars.com]], [[Momondo]], and [[OpenTable]]. It operates websites in about 40 [[language]]s and 200 countries. |
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The company ranked |
The company is ranked 243rd on the [[Fortune 500]] list of the largest United States corporations by revenue.<ref>{{Cite web |url=https://fortune.com/company/booking-holdings/ |title=Booking Holdings |website=[[Fortune (magazine)|Fortune]] | url-access=subscription}}</ref> The company primarily derives its revenue from [[commission (remuneration)|commissions]], with a small portion derived from [[advertising]].<ref name="10K" /> 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.<ref name="10K" />{{rp|page=43}} |
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==History== |
==History== |
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In |
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.<ref name=founder>{{cite news | url=https://www.wsj.com/articles/SB922927682927802935 | title=Priceline's Initial Public Offering Turns Founder Into Billionaire | first1=Thomas E. | last1=Weber | first2=Andrea | last2=Petersen | work=[[The Wall Street Journal]] | date=April 1, 1999 | url-access=subscription}}</ref> |
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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.<ref>{{cite news | url=https://nypost.com/1999/03/31/priceline-blasts-off-online-ticketing-enterprise-ipo-up-331/ | title=Priceline Blasts Off – Online Ticketing Enterprise IPO Up 3 331% | first=Beth | last=Piskora | work=[[The New York Post]] | date=March 31, 1999}}</ref><ref name=founder/> |
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.<ref>{{cite news | url=https://nypost.com/1999/03/31/priceline-blasts-off-online-ticketing-enterprise-ipo-up-331/ | title=Priceline Blasts Off – Online Ticketing Enterprise IPO Up 3 331% | first=Beth | last=Piskora | work=[[The New York Post]] | date=March 31, 1999}}</ref><ref name=founder/> |
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The company experimented with selling other products and services such as groceries, gasoline, home mortgages, and cars, but these offerings were discontinued in 2000.<ref>{{cite news | url=https:// |
The company experimented with selling other products and services such as groceries, gasoline, home mortgages, and cars, but these offerings were discontinued in 2000.<ref>{{cite news | url=https://www.latimes.com/archives/la-xpm-2000-feb-26-fi-2917-story.html | title=Priceline.com to Put Gas Up for Bid on Web | first=Nancy Rivera | last=Brooks | work=[[Los Angeles Times]] | date=October 5, 2000}}</ref><ref>{{cite news | url=http://www.cbsnews.com/news/priceline-runs-out-of-gas-groceries/ | title=Priceline Runs Out of Gas, Groceries | work=[[CBS News]] | date=February 26, 2000}}</ref> |
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On April 1, 2014, the name of the company was changed from priceline.com Incorporated to The Priceline Group Inc.<ref name=10K/> |
On April 1, 2014, the name of the company was changed from priceline.com Incorporated to The Priceline Group Inc.<ref name=10K/> |
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⚫ | In August 2017, KAYAK acquired the assets of Mundi, a Brazilian metasearch company.<ref>{{cite news | url=https://www.phocuswire.com/Kayak-acquires-Brazilian-travel-metasearch-site-Mundi | title=Kayak acquires Brazilian travel metasearch site Mundi | first=Michele | last=McDonald | work=Phocuswire | date=August 3, 2017}}</ref><ref>{{cite news | url=https://skift.com/2017/08/04/kayak-acquires-struggling-brazilian-metasearch-company-mundi/ | title=Kayak Acquires Assets of Struggling Brazilian Metasearch Company Mundi | first=Sean | last=O'Neill | work=[[Skift]] | date=August 4, 2017}}</ref> |
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⚫ | |||
⚫ | On February 21, 2018, the name of the company was changed from The Priceline Group Inc. to Booking Holdings.<ref>{{cite news | last=Josephs | first=Leslie | title=Online travel giant Priceline Group changes name to Booking Holdings | url=https://www.cnbc.com/2018/02/21/priceline-group-changes-name-to-booking-holdings.html | work=[[CNBC]] | date=February 21, 2018}}</ref><ref>{{cite news | last=VANIAN | first=JONATHAN | title=Why Priceline Group Is Changing Its Name to Booking Holdings | url=http://fortune.com/2018/02/21/priceline-group-booking-holdings/ | work=[[Fortune (magazine)|Fortune]] | date=February 21, 2018}}</ref> |
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⚫ | In August 2017, KAYAK acquired the assets of Mundi, a Brazilian metasearch company.<ref>{{cite news | url=https://www.phocuswire.com/Kayak-acquires-Brazilian-travel-metasearch-site-Mundi | title=Kayak acquires Brazilian travel metasearch site Mundi | first=Michele | last=McDonald | work=Phocuswire | date= |
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The company offered to acquire [[GoToGate]]; however, the deal was blocked by European regulators.<ref>{{Cite news | url=https://skift.com/2023/10/03/after-booking-deal-went-bust-etraveli-ceo-says-price-no-longer-in-play/ | title=After Booking Deal Went Bust, Etraveli CEO Says Price ‘No Longer in Play’ | first=Dennis | last=Schaal | work=[[Skift]] | date=October 3, 2023}}</ref> |
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⚫ | On February 21, 2018, the name of the company was changed from The Priceline Group Inc. to Booking Holdings.<ref>{{cite news | last=Josephs | first=Leslie | title=Online travel giant Priceline Group changes name to Booking Holdings | url=https://www.cnbc.com/2018/02/21/priceline-group-changes-name-to-booking-holdings.html | work=[[CNBC]] | date= |
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In 2021, Booking Holdings announced its intention to acquire Etraveli Group AB, the operator of the website [[GoToGate]], and hotel distributor Getaroom, for €1.63 billion.<ref>{{Cite web |title=Booking Holdings acquires ETraveli Group for €1.6 billion {{!}} PhocusWire |url=https://www.phocuswire.com/Booking-Holdings-acquires-eTraveli-Group-1-6-billion |access-date=2022-08-06 |website=www.phocuswire.com |language=en}}</ref> The [[Government of the United Kingdom]]'s [[Competition and Markets Authority]] has launched an enquiry into the acquisition, and as of November 2022, Booking Holdings is continuing to defend its proposed acquisition.<ref>{{Cite web |title=Booking Holdings Inc / eTraveli Group AB merger inquiry |url=https://www.gov.uk/cma-cases/booking-holdings-inc-slash-etraveli-group-ab-merger-inquiry |access-date=2022-08-06 |website=GOV.UK |language=en}}</ref><ref>{{Cite web |title=Online Travel Update: Booking Holdings Presses Ahead With Etraveli Acquisition |url=https://www.jdsupra.com/legalnews/online-travel-update-booking-holdings-1126965/ |access-date=2022-11-15 |website=JD Supra |language=en}}</ref> |
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== Management and finances == |
== Management and finances == |
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=== CEOs === |
=== CEOs === |
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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.<ref>{{cite news | url=http://www.businessinsider.com/priceline-jeff-boyd-2012-1 | title=Meet The Man Who Turned Priceline Into A $24 Billion Company | first=Kevin | last=Lincoln | work=[[Business Insider]] | date=January 19, 2012}}</ref> |
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Effective January 1, 2014, [[Darren Huston]] was named chief executive officer of the company, replacing Jeff Boyd.<ref>{{cite news | url=https://skift.com/2013/11/07/breaking-priceline-replaces-ceo-boyd-to-remain-chairman/ | title=Priceline Replaces CEO With Booking.com Boss | first=Jason | last=Clampet | work=Skift | date=November 7, 2013}}</ref> On April 28, 2016, Huston was forced to resign following an undisclosed personal relationship with an employee, and Boyd was named interim CEO.<ref>{{cite press release | url=http://www.prnewswire.com/news-releases/priceline-group-ceo-darren-huston-resigns-chairman-jeffery-h-boyd-appointed-interim-ceo-300259053.html | title=Priceline Group CEO Darren Huston Resigns; Chairman Jeffery H. Boyd Appointed Interim CEO | publisher=[[PR Newswire]] | date=April 28, 2016}}</ref> |
Effective January 1, 2014, [[Darren Huston]] was named chief executive officer of the company, replacing Jeff Boyd.<ref>{{cite news | url=https://skift.com/2013/11/07/breaking-priceline-replaces-ceo-boyd-to-remain-chairman/ | title=Priceline Replaces CEO With Booking.com Boss | first=Jason | last=Clampet | work=[[Skift]] | date=November 7, 2013}}</ref> On April 28, 2016, Huston was forced to resign following an undisclosed personal relationship with an employee, and Boyd was named interim CEO.<ref>{{cite press release | url=http://www.prnewswire.com/news-releases/priceline-group-ceo-darren-huston-resigns-chairman-jeffery-h-boyd-appointed-interim-ceo-300259053.html | title=Priceline Group CEO Darren Huston Resigns; Chairman Jeffery H. Boyd Appointed Interim CEO | publisher=[[PR Newswire]] | date=April 28, 2016}}</ref> |
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Effective January 1, 2017, Glenn D. Fogel was named chief executive officer and president.<ref>{{cite press release | url=http://www.prnewswire.com/news-releases/the-priceline-group-names-glenn-fogel-ceo-300379379.html | title=The Priceline Group Names Glenn Fogel CEO | publisher=[[PR Newswire]] | date=December 15, 2016}}</ref> |
Effective January 1, 2017, Glenn D. Fogel was named chief executive officer and president.<ref>{{cite press release | url=http://www.prnewswire.com/news-releases/the-priceline-group-names-glenn-fogel-ceo-300379379.html | title=The Priceline Group Names Glenn Fogel CEO | publisher=[[PR Newswire]] | date=December 15, 2016}}</ref> |
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==Finances== |
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=== Revenue sources and statistics === |
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The key trends for Booking Holdings are (as at the financial year ending December 31):<ref>{{Cite web |title=Booking Holdings Fundamentalanalyse {{!}} KGV {{!}} Kennzahlen |url=https://www.boerse.de/fundamental-analyse/Booking-Holdings-Aktie/US09857L1089 |website=boerse.de |language=de}}</ref> |
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In 2017, 89% of its gross profit was made outside the United States– most of which came from Booking.com.<ref name="10K" /><ref>{{Cite news |date=11 March 2019 |title=How Does Booking.com Work for Hotel Owners And Property Managers |work=Stasher |url=https://stasher.com/blog/how-does-booking-com-work-for-hotel-owners-and-property-managers/ |access-date=17 November 2019}}</ref> |
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{| class="wikitable" style="text-align:center" |
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! |
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In 2022, consumers booked 896 million room nights of accommodation, 62 million rental car days, and 23 million airplane tickets using websites owned by Booking Holdings.<ref name="10K" />{{rp|page=47}} |
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!Revenue (US$ bn) |
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!Net profit (US$ bn) |
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In 2017, 93.4% of revenues were derived from [[commission (remuneration)|commissions]] and 6.6% of revenues were derived from [[advertising]].<ref name="10K" /> |
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!Total assets (US$ bn) |
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!Employees |
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|- |
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|2016 |
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|10.7 |
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|2.1 |
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|19.8 |
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|18.500 |
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|- |
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|2017 |
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|12.6 |
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|2.3 |
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|25.4 |
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|22.900 |
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|- |
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|2018 |
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|14.5 |
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|3.9 |
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|22.6 |
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|24.500 |
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|- |
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|2019 |
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|15.0 |
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|4.8 |
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|21.4 |
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|26.400 |
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|- |
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|2020 |
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|6.7 |
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|0.06 |
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|21.8 |
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|20.300 |
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|- |
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|2021 |
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|10.9 |
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|1.1 |
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|23.6 |
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|20.300 |
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|- |
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|2022 |
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|17.0 |
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|3.0 |
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|25.3 |
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|21.600 |
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|} |
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== Acquisitions == |
== Acquisitions == |
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{{Prose|date=June 2023|section}} |
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{| class="wikitable sortable" |
{| class="wikitable sortable" |
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|- |
|- |
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Line 83: | Line 123: | ||
| Major stakes in Travelweb and Active Hotels |
| Major stakes in Travelweb and Active Hotels |
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| |
| |
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| style="text-align:center;" | <ref>{{cite web | url=https://www.wsj.com/articles/SB108362212858400714 | title=Priceline Posts Profit, Buys Travelweb | work=[[The Wall Street Journal]] | date=May 3, 2004 |
| style="text-align:center;" | <ref>{{cite web | url=https://www.wsj.com/articles/SB108362212858400714 | title=Priceline Posts Profit, Buys Travelweb | work=[[The Wall Street Journal]] | date=May 3, 2004 | url-access=subscription}}</ref> |
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|- scope="row" |
|- scope="row" |
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Line 125: | Line 165: | ||
| Buuteeq and Hotel Ninjas |
| Buuteeq and Hotel Ninjas |
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| $98 million |
| $98 million |
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| style="text-align:center;" | <ref>{{cite news | url=https://skift.com/2014/08/11/priceline-group-paid-98-million-for-buuteeq-and-hotel-ninjas/ | title=Priceline Group Paid $98 Million for Buuteeq and Hotel Ninjas | first=Dennis | last=Schaal | work=Skift | date=August 11, 2014}}</ref> |
| style="text-align:center;" | <ref>{{cite news | url=https://skift.com/2014/08/11/priceline-group-paid-98-million-for-buuteeq-and-hotel-ninjas/ | title=Priceline Group Paid $98 Million for Buuteeq and Hotel Ninjas | first=Dennis | last=Schaal | work=[[Skift]] | date=August 11, 2014}}</ref> |
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|- scope="row" |
|- scope="row" |
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Line 132: | Line 172: | ||
| Rocketmiles |
| Rocketmiles |
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| |
| |
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| style="text-align:center;" | <ref>{{cite news | url=https://www.chicagotribune.com/business/blue-sky/chi-priceline-to-acquire-rocketmiles-bsi-story.html | title=Priceline to acquire Chicago startup Rocketmiles, says report | first1=Amina | last1=Elahi | first2=Gregory | last2=Karp | work=[[Chicago Tribune]] | date=2015 |
| style="text-align:center;" | <ref>{{cite news | url=https://www.chicagotribune.com/business/blue-sky/chi-priceline-to-acquire-rocketmiles-bsi-story.html | title=Priceline to acquire Chicago startup Rocketmiles, says report | first1=Amina | last1=Elahi | first2=Gregory | last2=Karp | work=[[Chicago Tribune]] | date=February 19, 2015 | url-access=subscription}}</ref> |
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|- scope="row" |
|- scope="row" |
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Line 139: | Line 179: | ||
| [[Momondo]] and [[Cheapflights]] |
| [[Momondo]] and [[Cheapflights]] |
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| $550 million |
| $550 million |
||
⚫ | | style="text-align:center;" | <ref>{{cite press release | url=http://www.prnewswire.com/news-releases/the-priceline-group-completes-the-acquisition-of-momondo-group-300492526.html | title=The Priceline Group Completes the Acquisition of Momondo Group | publisher=[[PR Newswire]] | date=July 24, 2017}}</ref> |
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| style="text-align:center;" | <ref name="PR Newswire"/> |
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|- scope="row" |
|- scope="row" |
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Line 146: | Line 186: | ||
| Mundi |
| Mundi |
||
| |
| |
||
| style="text-align:center;" | <ref>{{cite news | url=https://skift.com/2017/08/04/kayak-acquires-struggling-brazilian-metasearch-company-mundi/ | title=Kayak Acquires Assets of Struggling Brazilian Metasearch Company Mundi | work=Skift | last=O'Neill | first=Sean | date=4 August 2017}}</ref> |
| style="text-align:center;" | <ref>{{cite news | url=https://skift.com/2017/08/04/kayak-acquires-struggling-brazilian-metasearch-company-mundi/ | title=Kayak Acquires Assets of Struggling Brazilian Metasearch Company Mundi | work=[[Skift]] | last=O'Neill | first=Sean | date=4 August 2017}}</ref> |
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|- scope="row" |
|- scope="row" |
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Line 153: | Line 193: | ||
| FareHarbor |
| FareHarbor |
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| $250 million |
| $250 million |
||
| style="text-align:center;" | <ref>{{Cite |
| style="text-align:center;" | <ref>{{Cite press release |url=https://www.prnewswire.com/news-releases/booking-holdings-announces-it-has-signed-an-agreement-to-acquire-fareharbor-300632814.html |title=Booking Holdings Announces it has Signed an Agreement to Acquire FareHarbor | publisher=[[PR Newswire]] |date=April 19, 2018}}</ref> |
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|- scope="row" |
|- scope="row" |
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Line 160: | Line 200: | ||
| Minority stake in [[DiDi (company)|DiDi]] |
| Minority stake in [[DiDi (company)|DiDi]] |
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| $500 million |
| $500 million |
||
| style="text-align:center;" | <ref>{{Cite news|url=https:// |
| style="text-align:center;" | <ref>{{Cite news |url=https://www.reuters.com/article/idUSKBN1K70TH/ | title=China's Didi gets $500 million funding from Booking.com parent | first=Cate | last=Cadell | work=[[Reuters]] | date=July 17, 2018}}</ref> |
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|- scope="row" |
|- scope="row" |
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Line 167: | Line 207: | ||
| [[HotelsCombined]] |
| [[HotelsCombined]] |
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| $140 million |
| $140 million |
||
| style="text-align:center;" | <ref>{{Cite news|url=https:// |
| style="text-align:center;" | <ref>{{Cite news | url=https://skift.com/2018/08/13/booking-holdings-bought-hotelscombined-for-only-140-million/ |title=Booking Holdings Bought HotelsCombined for Only $140 Million | first=Dennis | last=Schaal | work=[[Skift]] | date=August 13, 2018}}</ref> |
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|- scope="row" |
|- scope="row" |
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Line 174: | Line 214: | ||
| Venga |
| Venga |
||
| |
| |
||
| style="text-align:center;" | <ref>{{cite |
| style="text-align:center;" | <ref>{{cite press release |url=https://www.prnewswire.com/news-releases/booking-holdings-agrees-to-acquire-venga-300842570.html |title=Booking Holdings Agrees to Acquire Venga | publisher=[[PR Newswire]] |date=May 2, 2019}}</ref> |
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|- scope="row" |
|- scope="row" |
||
| 15 |
| 15 |
||
| {{dts|2022}} |
| {{dts|2022}} |
||
| |
| Getaroom |
||
| 1.2 billion |
| $1.2 billion |
||
| style="text-align:center;" | <ref>{{Cite |
| style="text-align:center;" | <ref>{{Cite news | url=https://skift.com/2021/11/12/booking-holdings-buys-getaroom-for-1-2-billion-to-build-partnerships-business/ | title=Booking Holdings Buys Getaroom for $1.2 Billion to Expand Partnerships | first=Dennis | last=Schaal | work=[[Skift]] | date=November 12, 2021}}</ref> |
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|- scope="row" |
|||
| 16 |
|||
| {{dts|2022}} |
|||
| Etraveli ([[GoToGate]], pending) |
|||
| 1.83 billion |
|||
| style="text-align:center;" | <ref>{{Cite news |date=2021-11-23 |title=Booking to buy Swedish travel agency Etraveli for $1.83 billion |language=en |work=Reuters |url=https://www.reuters.com/markets/deals/booking-buy-flight-booking-provider-etraveli-about-183-billion-2021-11-23/ |access-date=2023-03-01}}</ref> |
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|} |
|} |
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==See also== |
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==References== |
==References== |
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{{ |
{{Reflist}} |
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==External links== |
==External links== |
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{{Commons category|Booking Holdings}} |
{{Commons category|Booking Holdings}} |
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*{{Official|https://www.bookingholdings.com}} |
*{{Official website|https://www.bookingholdings.com}} |
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{{Finance links |
{{Finance links |
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| name = Booking Holdings Inc. |
| name = Booking Holdings Inc. |
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Line 206: | Line 237: | ||
| reuters = BKNG.O |
| reuters = BKNG.O |
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| bloomberg = BKNG:US |
| bloomberg = BKNG:US |
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| symbol = BKNG |
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| sec_cik = 1075531 |
| sec_cik = 1075531 |
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}} |
}} |
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[[Category:Booking Holdings| ]] |
[[Category:Booking Holdings| ]] |
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[[Category: |
[[Category:1996 establishments in Connecticut]] |
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⚫ | |||
⚫ | |||
⚫ | |||
⚫ | |||
⚫ | |||
[[Category:1999 initial public offerings]] |
[[Category:1999 initial public offerings]] |
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⚫ | |||
[[Category:Companies based in Norwalk, Connecticut]] |
[[Category:Companies based in Norwalk, Connecticut]] |
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[[Category: |
[[Category:Holding companies established in 1996]] |
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[[Category: |
[[Category:Holding companies of the United States]] |
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⚫ | |||
⚫ | |||
⚫ | |||
⚫ |
Revision as of 20:33, 19 June 2024
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Formerly |
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Company type | Public |
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Industry | |
Founded | 1996[1] |
Founder | Jay S. Walker |
Headquarters | , U.S. |
Key people |
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Products |
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Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Number of employees | ![]() |
Website | bookingholdings |
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.
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 | |
---|---|---|---|---|
2016 | 10.7 | 2.1 | 19.8 | 18.500 |
2017 | 12.6 | 2.3 | 25.4 | 22.900 |
2018 | 14.5 | 3.9 | 22.6 | 24.500 |
2019 | 15.0 | 4.8 | 21.4 | 26.400 |
2020 | 6.7 | 0.06 | 21.8 | 20.300 |
2021 | 10.9 | 1.1 | 23.6 | 20.300 |
2022 | 17.0 | 3.0 | 25.3 | 21.600 |
Acquisitions
# | Year | Company | Price | Ref(s). |
---|---|---|---|---|
1997 | Priceline.com | [18] | ||
1 | 2004 | Major stakes in Travelweb and Active Hotels | [19] | |
2 | 2005 | Booking.com | $133 million | [18] |
3 | 2007 | Agoda.com | [20] | |
4 | 2010 | TravelJigsaw / Rentalcars.com | [21] | |
5 | 2013 | Kayak.com | $1.8 billion | [22] |
6 | 2014 | OpenTable | $2.6 billion | [23] |
7 | 2014 | Buuteeq and Hotel Ninjas | $98 million | [24] |
8 | 2015 | Rocketmiles | [25] | |
9 | 2017 | Momondo and Cheapflights | $550 million | [26] |
10 | 2017 | Mundi | [27] | |
11 | 2018 | FareHarbor | $250 million | [28] |
12 | 2018 | Minority stake in DiDi | $500 million | [29] |
13 | 2018 | HotelsCombined | $140 million | [30] |
14 | 2019 | Venga | [31] | |
15 | 2022 | Getaroom | $1.2 billion | [32] |
References
- ^ "Booking.com: The largest selection of hotels, homes, and vacation rentals". Booking.com.
- ^ a b c d "Booking Holdings 2023 Annual Report Form (10-K)". U.S. Securities and Exchange Commission. February 22, 2024.
- ^ "Booking Holdings". Fortune.
- ^ a b Weber, Thomas E.; Petersen, Andrea (April 1, 1999). "Priceline's Initial Public Offering Turns Founder Into Billionaire". The Wall Street Journal.
- ^ Piskora, Beth (March 31, 1999). "Priceline Blasts Off – Online Ticketing Enterprise IPO Up 3 331%". The New York Post.
- ^ Brooks, Nancy Rivera (October 5, 2000). "Priceline.com to Put Gas Up for Bid on Web". Los Angeles Times.
- ^ "Priceline Runs Out of Gas, Groceries". CBS News. February 26, 2000.
- ^ McDonald, Michele (August 3, 2017). "Kayak acquires Brazilian travel metasearch site Mundi". Phocuswire.
- ^ O'Neill, Sean (August 4, 2017). "Kayak Acquires Assets of Struggling Brazilian Metasearch Company Mundi". Skift.
- ^ Josephs, Leslie (February 21, 2018). "Online travel giant Priceline Group changes name to Booking Holdings". CNBC.
- ^ VANIAN, JONATHAN (February 21, 2018). "Why Priceline Group Is Changing Its Name to Booking Holdings". Fortune.
- ^ Schaal, Dennis (October 3, 2023). "After Booking Deal Went Bust, Etraveli CEO Says Price 'No Longer in Play'". Skift.
- ^ Lincoln, Kevin (January 19, 2012). "Meet The Man Who Turned Priceline Into A $24 Billion Company". Business Insider.
- ^ Clampet, Jason (November 7, 2013). "Priceline Replaces CEO With Booking.com Boss". Skift.
- ^ "Priceline Group CEO Darren Huston Resigns; Chairman Jeffery H. Boyd Appointed Interim CEO" (Press release). PR Newswire. April 28, 2016.
- ^ "The Priceline Group Names Glenn Fogel CEO" (Press release). PR Newswire. December 15, 2016.
- ^ "Booking Holdings Fundamentalanalyse | KGV | Kennzahlen". boerse.de (in German).
- ^ a b O'Neill, Sean (October 2, 2012). "Why Priceline's Purchase of Booking.com Was the Most Profitable Deal of the 2000s". Phocuswire.
- ^ "Priceline Posts Profit, Buys Travelweb". The Wall Street Journal. May 3, 2004.
- ^ "Priceline.com Acquires Asian Online Hotel Reservation Service Company Agoda". Reuters. November 8, 2007.
- ^ Schaal, Dennis (May 18, 2010). "Priceline Acquires Car Rental Firm Travel Jigsaw As Part of Expansion Drive". Phocuswire.
- ^ Lardinois, Frederic (November 8, 2012). "Priceline.com Acquires Kayak For $1.8 Billion, Will Allow Kayak To Continue To Operate Independently". TechCrunch.
- ^ Sharf, Samantha (June 13, 2014). "Priceline Reserves OpenTable for 2.6 Billion". Forbes.
- ^ Schaal, Dennis (August 11, 2014). "Priceline Group Paid $98 Million for Buuteeq and Hotel Ninjas". Skift.
- ^ Elahi, Amina; Karp, Gregory (February 19, 2015). "Priceline to acquire Chicago startup Rocketmiles, says report". Chicago Tribune.
- ^ "The Priceline Group Completes the Acquisition of Momondo Group" (Press release). PR Newswire. July 24, 2017.
- ^ O'Neill, Sean (4 August 2017). "Kayak Acquires Assets of Struggling Brazilian Metasearch Company Mundi". Skift.
- ^ "Booking Holdings Announces it has Signed an Agreement to Acquire FareHarbor" (Press release). PR Newswire. April 19, 2018.
- ^ Cadell, Cate (July 17, 2018). "China's Didi gets $500 million funding from Booking.com parent". Reuters.
- ^ Schaal, Dennis (August 13, 2018). "Booking Holdings Bought HotelsCombined for Only $140 Million". Skift.
- ^ "Booking Holdings Agrees to Acquire Venga" (Press release). PR Newswire. May 2, 2019.
- ^ Schaal, Dennis (November 12, 2021). "Booking Holdings Buys Getaroom for $1.2 Billion to Expand Partnerships". Skift.
External links
- Official website
- Business data for Booking Holdings Inc.: