Booking Holdings

Booking Holdings Inc.
Formerly
  • Priceline.com Incorporated (1998–2014)
  • The Priceline Group Inc. (2014–2018)
Company typePublic
Industry
Founded1996; 28 years ago (1996)
FounderJay S. Walker
Headquarters,
U.S.
Key people
Products
RevenueIncrease US$21.37 billion (2023)
Increase US$5.835 billion (2023)
Increase US$4.289 billion (2023)
Total assetsDecrease US$24.34 billion (2023)
Total equityDecrease US$−2.74 billion (2023)
Number of employees
Increase c. 23,600 (2023)
Websitebookingholdings.com
Footnotes / references

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.com, Kayak.com, Cheapflights, Rentalcars.com, Momondo, and OpenTable. It operates websites in about 40 languages and 200 countries.

The company ranked 340th on the 2022 Fortune 500 list of the largest United States corporations by revenue.

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.

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.

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

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

In July 2017, the company acquired the Momondo Group.

In August 2017, KAYAK acquired the assets of Mundi, a Brazilian metasearch company.

On February 21, 2018, the name of the company was changed from The Priceline Group Inc. to Booking Holdings. On February 27, 2018, the company changed its ticker symbol from "PCLN" to "BKNG".

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. 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.

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.

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

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

Revenue sources and statistics

In 2017, 89% of its gross profit was made outside the United States– most of which came from Booking.com.

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.: 43 

In 2017, 93.4% of revenues were derived from commissions and 6.6% of revenues were derived from advertising.

Acquisitions

# Year Company Price Ref(s).
1997 Priceline.com
1 2004 Major stakes in Travelweb and Active Hotels
2 2005 Booking.com $133 million
3 2007 Agoda.com
4 2010 TravelJigsaw / Rentalcars.com
5 2013 Kayak.com $1.8 billion
6 2014 OpenTable $2.6 billion
7 2014 Buuteeq and Hotel Ninjas $98 million
8 2015 Rocketmiles
9 2017 Momondo and Cheapflights $550 million
10 2017 Mundi
11 2018 FareHarbor $250 million
12 2018 Minority stake in DiDi $500 million
13 2018 HotelsCombined $140 million
14 2019 Venga
15 2022 Getaroom 1.2 billion
16 2022 Etraveli (GoToGate, pending) 1.83 billion

This page was last updated at 2024-03-23 05:34 UTC. Update now. View original page.

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