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Booking Holdings (BKNG) Boosts Menu Management With Popmenu
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Booking Holdings Inc.’s (BKNG - Free Report) subsidiary OpenTable collaborated with Popmenu to offer seamless uploading, editing and managing digital menu capabilities to various restaurants.
More precisely, OpenTable customers will be able to import, build and update menus across multiple locations hassle free, thanks to Popmenu. This, in turn, will save time and resources for operators, who are adopting new technologies to meet market demands.
Further, the deal allows OpenTable to automatically update menus edited through Popmenu or an integrated point of sale system, improving search engine ranking for restaurants and restaurant discovery experience for diners.
We note that Booking Holdings is expected to gain solid traction among several restaurants on the back of this latest move.
The partnership with Popmenu bodes well for Booking Holdings’ growing efforts to strengthen its footing in the global restaurant management software market.
Per an Expert Market Research report, the global restaurant management software market size is expected to hit $4.8 billion in 2023 and reach $11.1 billion by 2032, with a CAGR of 15% during the forecast period of 2024-2032.
A Grand View Research report indicates that the global restaurant management software market size is suggested to register a CAGR of 16.3% between 2023 and 2030.
Solidifying prospects of BKNG in the promising restaurant management software market will likely instill investors’ optimism. The stock has been benefiting from improving travel demand across the globe.
Notably, BKNG has gained 49.3% in the year-to-date period, outperforming the industry’s 33.1% growth.
Wrapping Up
The latest move is in sync with BKNG’s constant efforts toward enhancing its products for customers.
Recently, Booking Holdings’ KAYAK launched its first corporate travel product for large companies, KAYAK for Business, which offers features without the need for a credit card or expense report.
Further, KAYAK for Business' Enterprise solution provides a range of features including Duty of Care, Advanced Reporting, Group Booking, Unused Ticket Management and integrations with third-party solutions.
In addition, BKNG’s subsidiary Priceline unveiled Trip Intelligence, a suite comprising more than 40 booking tools and site enhancements, to revolutionize trip planning and booking experience for travelers.
Also, the introduction of AI Trip Planner, which integrates OpenAI's ChatGPT API technology to offer a new conversational experience, remains noteworthy.
We believe that Kayak and OpenTable efforts will likely bolster the company’s Advertising & Other revenues in the near term.
In second-quarter 2023, Advertising & Other revenues were $263 million, which rose 7.8% on a year-over-year basis.
Our estimate for 2023 Advertising & Other revenues is pegged at $988.4 million, indicating growth of 10.6% from fiscal 2022 level.
Also, efforts to deliver AI-backed travel booking experience along with Kayak and OpenTable endeavors are likely to drive BKNG’s overall top-line growth.
Our model predicts 2023 revenues to be $20.87 billion, indicating 22.1% year-over-year rise.
Image: Bigstock
Booking Holdings (BKNG) Boosts Menu Management With Popmenu
Booking Holdings Inc.’s (BKNG - Free Report) subsidiary OpenTable collaborated with Popmenu to offer seamless uploading, editing and managing digital menu capabilities to various restaurants.
More precisely, OpenTable customers will be able to import, build and update menus across multiple locations hassle free, thanks to Popmenu. This, in turn, will save time and resources for operators, who are adopting new technologies to meet market demands.
Further, the deal allows OpenTable to automatically update menus edited through Popmenu or an integrated point of sale system, improving search engine ranking for restaurants and restaurant discovery experience for diners.
We note that Booking Holdings is expected to gain solid traction among several restaurants on the back of this latest move.
Booking Holdings Inc. Price and Consensus
Booking Holdings Inc. price-consensus-chart | Booking Holdings Inc. Quote
Growth Prospects
The partnership with Popmenu bodes well for Booking Holdings’ growing efforts to strengthen its footing in the global restaurant management software market.
Per an Expert Market Research report, the global restaurant management software market size is expected to hit $4.8 billion in 2023 and reach $11.1 billion by 2032, with a CAGR of 15% during the forecast period of 2024-2032.
A Grand View Research report indicates that the global restaurant management software market size is suggested to register a CAGR of 16.3% between 2023 and 2030.
Solidifying prospects of BKNG in the promising restaurant management software market will likely instill investors’ optimism. The stock has been benefiting from improving travel demand across the globe.
Notably, BKNG has gained 49.3% in the year-to-date period, outperforming the industry’s 33.1% growth.
Wrapping Up
The latest move is in sync with BKNG’s constant efforts toward enhancing its products for customers.
Recently, Booking Holdings’ KAYAK launched its first corporate travel product for large companies, KAYAK for Business, which offers features without the need for a credit card or expense report.
Further, KAYAK for Business' Enterprise solution provides a range of features including Duty of Care, Advanced Reporting, Group Booking, Unused Ticket Management and integrations with third-party solutions.
In addition, BKNG’s subsidiary Priceline unveiled Trip Intelligence, a suite comprising more than 40 booking tools and site enhancements, to revolutionize trip planning and booking experience for travelers.
Also, the introduction of AI Trip Planner, which integrates OpenAI's ChatGPT API technology to offer a new conversational experience, remains noteworthy.
We believe that Kayak and OpenTable efforts will likely bolster the company’s Advertising & Other revenues in the near term.
In second-quarter 2023, Advertising & Other revenues were $263 million, which rose 7.8% on a year-over-year basis.
Our estimate for 2023 Advertising & Other revenues is pegged at $988.4 million, indicating growth of 10.6% from fiscal 2022 level.
Also, efforts to deliver AI-backed travel booking experience along with Kayak and OpenTable endeavors are likely to drive BKNG’s overall top-line growth.
Our model predicts 2023 revenues to be $20.87 billion, indicating 22.1% year-over-year rise.
Zacks Rank & Stocks to Consider
Currently, BKNG carries a Zacks Rank #3 (Hold).
Investors interested in the broader retail-wholesale sector can consider some better-ranked stocks like Amazon (AMZN - Free Report) , Lithia Motors (LAD - Free Report) and Walmart (WMT - Free Report) . AMZN currently sports a Zacks Rank #1 (Strong Buy), and LAD and WMT carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Amazon has gained 54.1% in the year-to-date period. AMZN’s long-term earnings growth rate is currently estimated at 33.83%.
Lithia Motors has improved 36.3% in the year-to-date period. LAD’s long-term earnings growth rate is presently projected at 3%.
Walmart has jumped 11.2% in the year-to-date period. WMT’s long-term earnings growth rate is currently anticipated at 6.58%.