Booking Holdings Reports 11.1% Revenue Growth to $23.7 Billion for Fiscal Year 2024

Booking Holdings Inc. reported a significant increase in financial performance for the fiscal year ending December 31, 2024, with total revenues reaching $23.7 billion, an 11.1% increase from $21.4 billion in 2023. The company’s net income for the year was $5.9 billion, up from $4.3 billion in the previous year, reflecting a strong recovery in travel demand, particularly in Europe and Asia. Merchant revenues, which account for the majority of the company’s income, surged by 29.3% to $14.1 billion, while agency revenues fell by 9.5% to $8.5 billion, indicating a continued shift towards merchant bookings.

In terms of operational metrics, Booking Holdings achieved a 9% year-over-year increase in global room nights booked, totaling 1.14 billion nights. The company also reported a 12.3% increase in rental car days and a 38.1% rise in airline tickets booked, driven by expanded flight offerings and increased travel activity. The average daily rates (ADRs) remained stable, although they were impacted by a higher mix of bookings from lower-ADR regions in Asia. The company’s mobile app usage continued to grow, with over 50% of room nights booked through mobile platforms, enhancing direct consumer engagement.

Strategically, Booking Holdings has focused on enhancing its service offerings and operational efficiencies. The company has integrated generative artificial intelligence (Gen AI) into its platforms to improve customer experience and operational efficiency. Additionally, the company announced a Transformation Program aimed at modernizing processes and systems, which is expected to yield annual savings of $400 to $450 million over the next three years. The workforce is anticipated to be reduced as part of this initiative, which reflects a broader trend of optimizing operational costs.

Geographically, Booking Holdings operates in over 220 countries and territories, with a notable increase in the number of properties listed on its platforms, reaching approximately 4 million by the end of 2024. The company continues to expand its alternative accommodations segment, which now accounts for about 35% of room nights booked. However, this segment typically yields lower profit margins, which may affect overall profitability as it grows.

Looking ahead, Booking Holdings anticipates moderate growth for the first quarter of 2025, projecting a 5% to 7% increase in room nights and gross bookings. For the full year, the company expects mid-single-digit growth in both gross bookings and revenues, with operating income anticipated to be higher than in 2024. The company remains focused on leveraging technology and enhancing its service offerings to maintain its competitive edge in the evolving travel market.