Booking Holdings (BKNG) Investor presentation summary

Strategic vision and market positioning

• Focused on making travel easier and more personal through data and AI, connecting travelers and suppliers across 220+ countries and 40+ languages with over 4.5 million accommodation properties as of March 2026.

• Portfolio includes leading brands such as Booking.com, Priceline, Agoda, KAYAK, and OpenTable, supporting a comprehensive travel ecosystem.

• The Connected Trip vision aims to integrate planning, booking, and travel experiences, leveraging AI technology at its core.

Financial performance and growth

• Achieved $26.9B in revenue for 2025, up 13% YoY, with 1.2B room nights booked (+8% YoY).

• Adjusted EBITDA reached $9.9B (+20% YoY) with a 37% margin, and free cash flow was $9.1B (+15% YoY).

• Adjusted EPS grew at a 16% CAGR, reflecting strong profitability and operational leverage.

Growth drivers and market opportunity

• Capitalizing on secular trends: global travel market growth, increasing online penetration, and economic expansion.

• The global travel market exceeds $3 trillion, with accommodations representing a $989B segment and online penetration rising to 69% in 2024.

• Near- and long-term growth initiatives include expanding supply, enhancing customer value, driving efficiencies, and building the Connected Trip.