Booking Holdings (BKNG) to Make Travelers' Itinerary Exciting

Booking Holdings Inc. BKNG is consistently strengthening its subsidiary Priceline by expanding its service portfolio.

This is evident from Priceline’s collaboration with the leading tours and activities company Musement to unveil Priceline Experiences.

With Priceline Experiences, BKNG enables customers to search and quickly book more than 80 thousand activities in above 100 countries during their vacations.

Moreover, Priceline started hosting an Instagram sweepstake to give away $500 worth of Experiences. The event will be organized every week throughout October this year.

By rolling out Priceline Experiences, Booking Holdings expanded its booking capabilities into ticketed activities and excursions.

Through this move, BKNG aims to provide an enhanced vacation experience to travelers. This is expected to boost the booking rate of Experiences and drive BKNG’s top line in the days ahead.

Priceline Division in Focus

Priceline is a leading online travel agency, known best for offering discount rates on travel-related purchases, such as airline tickets and hotel stays.

Priceline is steadily making progress, primarily in the U.S. domestic travel market, with the country showing faster signs of recovery than the global travel market from the impacts of the coronavirus pandemic.

Apart from the recent initiative, Priceline collaborated with a high-speed network connectivity provider T-Mobile U.S. T-Mobile provides exclusive Priceline deals, backed by BKNG’s division Rocket Travel on the T-Mobile TRAVEL vacation website. With this move, Priceline is expected to gain momentum among travelers.

Further, Priceline’s efforts to enhance itsB2B distribution for hotel partners with the Getaroom acquisition are a boon.

Competitive Travel Market

Growing initiatives in Priceline position Booking Holdings well to capitalize on the prospects in the booming travel market.

Per a ResearchAndMarkets report, the global travel market is likely to reach $451.2 billion by 2026, witnessing a CAGR of 13.9% during the 2022-2026 forecast period.

Given the solid potential in the travel market, not only BKNG but other online travel agencies like TripAdvisor TRIP, Expedia EXPE and Airbnb ABNB are also making strong efforts to expand their presence in this market. 

TripAdvisor is riding on its Tripadvisor Plus subscription offerings. Additionally, its growing partnerships remain positive. In March, TRIP collaborated with Walgreens to promote the latter’s COVID-19 testing solutions so that travelers who are symptomatic, unvaccinated or planning to engage in a mixed group of vaccinated and unvaccinated individuals, can enjoy safe trips.

Expedia is gaining traction from customers owing to its robust portfolio offerings. Moreover, its website provides travelers with destination and flight plan choices, details of the places to be visited, maps, local restaurants, things to do, cruises, special offers and consumer reviews, so that they can book according to their preferences.

Airbnb’s growing technological efforts to attract more hosts and guests to its platform remain noteworthy. This apart, ABNB recently joined forces with Visit Bloomington to promote safe travel with a focus on local attractions, unique stays and experiences to boost travel demand in Bloomington. The partnership is also focused on supporting local shops, restaurants and workforce of the city who largely depend on the local tourism industry.

Nevertheless, Priceline’s growing services and strategic partnerships are expected to help BKNG boost its competitive prowess against the abovementioned peers.


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Expedia Group, Inc. (EXPE): Free Stock Analysis Report
 
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Airbnb, Inc. (ABNB): Free Stock Analysis Report
 
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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