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Booking Holdings (BKNG) to Aid SMB Travelers With KAYAK Upgrade
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Booking Holdings Inc.’s (BKNG - Free Report) subsidiary, KAYAK, unveiled an upgrade to its travel management solution for small and medium-sized businesses (SMBs).
KAYAK for Business now offers full trip management, seamless group bookings and 24/7 travel agent support at a flat fee of $20 per trip.
It also offers VIP account management, flexible payment methods, travel tracking and reporting, and access to corporate rates.
Booking Holdings is expected to gain solid popularity among SMBs on the back of this latest upgrade.
Per an imarc report, the online travel market is expected to reach $1.27 trillion by 2032, witnessing a CAGR of 10.4% between 2024 and 2032. Booking Holdings is well-poised to capitalize on this solid growth opportunity on the back of its strengthening portfolio.
Recently, Booking Holdings’ subsidiary Priceline selected Omnicom Group’s PHD as its media agency partner, aiding BKNG to drive its brand value on the back of innovative and precision marketing solutions.
Priceline’s addition of a slew of generative AI-powered features to its Trip Intelligence suite, facilitating the trip planning and booking process for travelers to save time, remains noteworthy.
BKNG also introduced AI Trip Planner, which offers a new approach to trip planning, allowing users to ask questions and receive personalized recommendations through its conversational booking feature.
Expedia Group introduced a slew of new products and features in a bid to boost the travel experiences of its customers. It launched Romie, the industry's first AI-based travel assistant designed to assist users in planning, shopping, booking and helping them with unexpected changes during trips.
Meanwhile, TripAdvisor’s instant booking initiative continues to gain a lot of momentum. The initiative allows travelers to book a hotel through TripAdvisor’s booking partners on its mobile site or apps. The entire booking process, from selecting a room to disclosing personal and credit details, is completed through Instant Booking, thus offering a frictionless booking experience.
Airbnb, on the other hand, strengthened its position in the travel booking market with a few updates for group booking, including a new category called "Icons" hosted by celebrated personalities in music, film, TV and sports. These features will allow users to create shared wishlists, invite friends or family, add properties, leave notes or vote on bookings.
Conclusion
BKNG’s strong competitive position bodes well for its near-term growth prospects. Its shares have gained 13.6% in the year-to-date period, outperforming Airbnb’s growth of 11.4%. Expedia and TripAdvisor have declined 17.9% and 18.9% in the same period, respectively.
The company’s strong product portfolio, solid momentum across the merchant, advertising and other businesses, growing alternative accommodation business and flight capabilities remain positives.
These factors are expected to continue driving the overall financial performance of the company in the near term.
The Zacks Consensus Estimate for 2024 revenues is pegged at $23.09 billion, indicating year-over-year growth of 8.05%.
The consensus mark for 2024 earnings is pegged at $178.54 per share, indicating a 17.3% rise from the year-ago figure. The figure has been revised upward by 1.4% in the past 60 days.
Image: Bigstock
Booking Holdings (BKNG) to Aid SMB Travelers With KAYAK Upgrade
Booking Holdings Inc.’s (BKNG - Free Report) subsidiary, KAYAK, unveiled an upgrade to its travel management solution for small and medium-sized businesses (SMBs).
KAYAK for Business now offers full trip management, seamless group bookings and 24/7 travel agent support at a flat fee of $20 per trip.
It also offers VIP account management, flexible payment methods, travel tracking and reporting, and access to corporate rates.
Booking Holdings is expected to gain solid popularity among SMBs on the back of this latest upgrade.
Booking Holdings Inc. Price and Consensus
Booking Holdings Inc. price-consensus-chart | Booking Holdings Inc. Quote
BKNG’s Strong Portfolio Drives Prospects
Per an imarc report, the online travel market is expected to reach $1.27 trillion by 2032, witnessing a CAGR of 10.4% between 2024 and 2032. Booking Holdings is well-poised to capitalize on this solid growth opportunity on the back of its strengthening portfolio.
Recently, Booking Holdings’ subsidiary Priceline selected Omnicom Group’s PHD as its media agency partner, aiding BKNG to drive its brand value on the back of innovative and precision marketing solutions.
Priceline’s addition of a slew of generative AI-powered features to its Trip Intelligence suite, facilitating the trip planning and booking process for travelers to save time, remains noteworthy.
BKNG also introduced AI Trip Planner, which offers a new approach to trip planning, allowing users to ask questions and receive personalized recommendations through its conversational booking feature.
Competitive Advantage
A strong product portfolio will continue to help this Zacks Rank #3 (Hold) company enjoy a competitive advantage against its peers, namely Expedia Group (EXPE - Free Report) , TripAdvisor (TRIP - Free Report) and Airbnb (ABNB - Free Report) , which are also leaving no stone unturned to strengthen their foothold in the online travel market. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Expedia Group introduced a slew of new products and features in a bid to boost the travel experiences of its customers. It launched Romie, the industry's first AI-based travel assistant designed to assist users in planning, shopping, booking and helping them with unexpected changes during trips.
Meanwhile, TripAdvisor’s instant booking initiative continues to gain a lot of momentum. The initiative allows travelers to book a hotel through TripAdvisor’s booking partners on its mobile site or apps. The entire booking process, from selecting a room to disclosing personal and credit details, is completed through Instant Booking, thus offering a frictionless booking experience.
Airbnb, on the other hand, strengthened its position in the travel booking market with a few updates for group booking, including a new category called "Icons" hosted by celebrated personalities in music, film, TV and sports. These features will allow users to create shared wishlists, invite friends or family, add properties, leave notes or vote on bookings.
Conclusion
BKNG’s strong competitive position bodes well for its near-term growth prospects. Its shares have gained 13.6% in the year-to-date period, outperforming Airbnb’s growth of 11.4%. Expedia and TripAdvisor have declined 17.9% and 18.9% in the same period, respectively.
The company’s strong product portfolio, solid momentum across the merchant, advertising and other businesses, growing alternative accommodation business and flight capabilities remain positives.
These factors are expected to continue driving the overall financial performance of the company in the near term.
The Zacks Consensus Estimate for 2024 revenues is pegged at $23.09 billion, indicating year-over-year growth of 8.05%.
The consensus mark for 2024 earnings is pegged at $178.54 per share, indicating a 17.3% rise from the year-ago figure. The figure has been revised upward by 1.4% in the past 60 days.