Once you arrive in Panama, the experiences are endless.
02.05.2024 - 22:39 / skift.com / Dennis Schaal / Glenn Fogel
Booking Holdings has been engaged in building a “connected trip” — where travelers might book a flight accommodation and attraction on Booking.com — over the past few years.
It’s been slow to get traction: More than 90% of travelers using Booking Holdings platforms book solely an accommodation, flight, car rental or attraction, and then they head elsewhere.
But in Booking Holdings’ first-quarter earnings call Thursday, officials reported progress in “connected transactions,” however modest.
“I’m encouraged to see strong growth in transactions that are connected to another booking from a different travel vertical in a trip,” CEO Glenn Fogel told analysts. “These connected transactions increased by just over 50% year-over-year in the first quarter. Though it’s important to note that this growth is off of last year’s small base. Connected transactions represented a high single-digit percentage of Booking.com’s total transactions in q1.”
Fogel added that the company is seeing strong growth in attractions and rental cars as part of connected tractions.
Officials pointed to various key components of the strategy: Its Genius loyalty program, the move to attract direct bookings, AI trip planners, making payments easier, and its tours and activities business.
Still, the connected trip won’t become reality in the next few years – if it ever does.
For example, Booking.com sources most of its tours and activities from third parties such as Viator, Klook and Musement. Fogel acknowledged that building that part of the business isn’t a priority at the moment.
Building the company’s flights business, which saw bookings jump 33% in the first quarter, is an immediate priority.
The company is working on other aspects of the connected trip. Its Genius discount program currently only provides deals for accommodations, and the company said Thursday it is testing offering Genius rewards for flights and attractions, as well.
Direct bookings, where travelers come directly to Booking.com or its apps without the company having to pay Google to induce a visit, are moving in the right direction, as is its short-term rental business in the U.S.
“We are encouraged by the continued progress we are making in strengthening the direct relationships with our our travelers,” said Chief Financial Officer Ewout Steenbergen. “Over the last four quarters, the mix of total room nights coming to us through the direct channel was in the mid-50% range. And when we exclude our B2B business, it was in the low 60% range. We have seen both these mixes increase year-over-year in each of those four quarters.”
Booking Holdings had a strong first quarter.
The company saw its net income in the first quarter jump 192% to $776 million on revenue of
Once you arrive in Panama, the experiences are endless.
Anguilla saw first quarter visitor arrivals rise 22.2% from Q1 2023 and 24.4% from the same period in 2019, according to the Anguilla Tourist Board. This year, from January through March, Anguilla received 62,188 visitors, versus 50,884 in Q1 2023 and 49,952 in Q1 2019. The growth was led by the island’s two largest source markets, the U.S. and Canada. U.S. visitor arrivals totaled 41,399, up 32.7%, while U.S. tourist arrivals for the same period numbered 27,176, an increase of 20.5%. “With this momentum, we eagerly anticipate surpassing our achievements and making 2024 an outstanding year,” said Anguilla tourism director Stacey Liburd.
What do American Airlines, British Airways, Delta, and Air France each have in common? They’ve all reported red-hot demand for premium cabins in recent months – and they’re not alone.
The European Commission said on Monday it had designated Booking.com’s parent company, Booking Holdings, as having “gatekeeper” regulatory status under the European Union’s Digital Markets Act. The move came as part of a broader effort to rein in tech giants such as Google and Apple.
Good morning from Skift. It’s Wednesday, May 8. Here’s what you need to know about the business of travel today.
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Hatta Resorts and its Wadi Hub is proudly taking part in this year’s edition of the annual Arabian Travel Market (ATM), which opened yesterday and will run until 9 May at Dubai World Trade Centre. Known for glamping and its impressive line-up of exhilarating adventures amidst the picturesque natural landscape of the Hajar Mountains, the Hatta region is an all-rounded haven for a quick city escape. As Dubai’s largest nature reserve, Hatta is a multi-faceted sustainable destination that has an undeniable appeal for those seeking to relax or to engage in their next thrilling adventure. With over 351,000 visitors from September 2023 to April 2024, Hatta Resorts and its Wadi Hub had a successful season welcoming guests from the UAE and across the globe — a remarkable 40.4% increase to last season’s figures. Visitors to the Hatta stand, located in the Department of Economy and Tourism pavilion, at the conference, can also expect an exploratory introduction to the resort through visual and sensory demonstrations highlighting the resort’s offerings from the perspective of travellers.
Much of the discussion about business travel revolves around large corporations that have strict managed-travel policies. They require employees to book trips through sanctioned tools and at hotels and airlines that give corporations volume discounts.
Marriott Vacations Worldwide found strong demand for timeshares at its destinations in the first months of the year — except in Western Maui, which continued its slow recovery from last August’s wildfires.
Norwegian Cruise Line will team up with a nudist travel company to present a naked cruise. Packing should be quick and easy.
British Airways Executive Club recently introduced a tempting new offer to reduce the price of any BA-operated flight to just 1 British pound (about $1.25) by using Avios, but here's why it is not a good deal.