Booking Holdings Inc. (BKNG)

Booking Holdings Inc. (BKNG) is the global sovereign of online travel and related services, headquartered in Norwalk, Connecticut. Led by CEO Glenn Fogel, the company’s strategic mission is to "help people experience the world" by providing a frictionless, end-to-end travel platform. Booking Holdings holds an unassailable industry position through its six primary brands: Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com, and OpenTable. Its vision is to build the "Connected Trip," a unified ecosystem where flights, hotels, ground transport, and dining are all managed through a single AI-driven interface. In late 2025, BKNG stock remains a cornerstone of the global travel sector, with the BKNG stock price reflecting the company’s dominance in the high-growth European and Asian markets. As the world’s largest travel intermediary, Booking Holdings processes over $150 billion in annual gross bookings, making it the primary gateway for global tourism.

The business operations of Booking Holdings are centered on the rapid digitization of the travel experience. In fiscal 2025, the "Connected Trip" strategy reached a critical mass, with "Merchant Model" revenue—where Booking facilitates the payment—surpassing traditional agency revenue for the first time. This shift allows the company to offer integrated travel insurance and alternative payment methods, significantly increasing the take-rate per customer. A primary growth driver is the "AI Trip Planner," a generative AI tool that provides personalized, bookable itineraries, which has led to a double-digit increase in mobile app conversion rates. The 2026 strategic roadmap focuses on "Social Travel Integration" and the expansion of its "Alternative Accommodations" (apartments and homes) to directly challenge competitors in the short-term rental space. Booking holds a "Supply Moat," with over 3.2 million properties globally, including a vast network of unique European boutique hotels that are difficult for rivals to replicate. For investors, BKNG stock represents a high-margin, capital-light business model that generates massive free cash flow, much of which is returned to shareholders via buybacks and its recently initiated dividend.

Booking Holdings Inc. (BKNG) is listed on the NASDAQ Global Select Market. For institutional investors tracking BKNG stock, the "Room Night" growth and "Marketing Efficiency" (measured as a percentage of revenue) are the primary indicators of operational health. The BKNG stock price is a primary barometer for global consumer discretionary spending and the recovery of international long-haul travel. For those researching BKNG stock, the company’s 2025 performance underscores its resilience and its ability to maintain industry-leading margins even in a fluctuating macroeconomic environment.