Booking.com Statistics [2024]: Company & Growth Data Analysis

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Booking.com COVID 19 Statistics
Photo credit score: Brian McGowan

The previous a number of years have been turbulent for the journey trade. From pandemic-era shutdowns and restrictions to the post-pandemic journey increase and now world battle and wavering economies, there was a number of change for websites like Booking.com.

As the main journey firm by way of market share, there was important stress for Booking Holdings to keep up market dominance throughout and after the pandemic shakedown.

Here are the important thing statistics on Booking.com’s losses from the pandemic, and its subsequent restoration.

Booking.com Pandemic Losses

Like the remainder of the journey trade, Booking.com noticed large drops in reservations and income in 2020.

From 2019 to 2020, the variety of room nights reserved by Booking.com dropped by 68% as a result of pandemic.

The impact of the pandemic can be hanging when wanting on the income of Booking.com’s gross journey bookings, which dropped 63% from 2019 to 2020.

Impressively, even with the dramatic drop in gross journey bookings in 2020, Booking Holdings nonetheless managed to do higher (barely) than break even with a web revenue of $59 million. That was a 99% lower from the earlier 12 months’s web revenue of $4.8 billion.

Still, that is much better efficiency than most corporations and different web sites within the tourism trade fared throughout the pandemic. For instance, based mostly on information from Macro Trends, Booking Holding’s prime competitor, Expedia, operated at a web lack of $2.7 billion in 2020.

Booking.com Pandemic Recovery

Global tourism hasn’t recovered to pre-pandemic ranges based mostly on 2022 information from the UN World Tourism Organization. In 2022, 900 million folks traveled internationally. That’s a serious enchancment from 2020 and 2021, however it’s nonetheless 37% decrease than pre-pandemic ranges.

Most consultants don’t count on world tourism to get well to 2019 ranges till the tip of 2024.

On the opposite hand, Booking.com and its mother or father firm Booking Holdings skilled a a lot faster rebound from the pandemic.

By 2022, Booking.com’s complete variety of room nights bought was 6% above 2019 ranges, and income from gross journey bookings was up 25%.

Explaining Booking.com’s Accelerated Recovery

There’s nobody apparent clarification for why Booking.com has outperformed different on-line journey brokers in recovering from the pandemic. Rather, it’s a mixture of a number of complicated components.

One contributing issue is that, whereas Expedia focuses closely on North America, Booking.com has the most important journey market share in Europe by far.

That makes a distinction as a result of the lodge trade is vastly totally different between Europe and North America.

In North America, most motels are operated by main chains (Wyndham, Marriott, and so forth.). These bigger chain corporations have far more bargaining energy when negotiating with on-line journey businesses, that means decrease margins for these businesses.

On the opposite hand, in line with HospitalityNet, in Europe, solely 20-25% of motels are half of a big chain model. Independent motels have much less bargaining energy, so Booking.com can negotiate greater reserving charges. UN World Tourism Organization analysis additionally reveals that Europe has seen the best restoration in journey and tourism.

This solely partially explains Booking.com’s spectacular restoration although, particularly within the present world monetary state of affairs.

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