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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Booking Holdings Inc.    BKNG

BOOKING HOLDINGS INC.

(BKNG)
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Booking : Pandemic fueling demand for vacation rentals, says Booking Holdings CEO

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08/07/2020 | 05:28pm EDT

Aug 7 (Reuters) - The coronavirus pandemic is spurring more travelers to book vacation rentals as they seek safety, the chief executive of online travel agency Booking Holdings said on Friday.

Alternative accommodations, including homes and apartments, made up 40% of all new bookings in the second quarter on Booking.com. In 2019, the business represented about 21% of Booking Holdings revenue.

"The desire of people to be isolated away from other people has accelerated the trend of booking alternative accommodations," Chief Executive Officer Glenn Fogel told Reuters.

Still, Booking Holdings on Thursday reported an 87% drop in its booked room nights for the three months ended June 30, due to the health crisis and related travel restrictions, with overall revenues tumbling to $630 million from $3.85 billion.

Travelers are choosing to stay closer to their home, and are more interested in less urban areas than pre-COVID period, Fogel said.

Fogel expects the shift toward alternative accommodations to continue in the "long run" as people get more comfortable working from home.

"Many people may be taking longer weekends where they won't go to office on a Friday and still do their work from somewhere else," Fogel said.

"A lot of people may find it more attractive to do that from a home than a double occupancy hotel room." (Reporting by Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila)


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Financials (USD)
Sales 2020 7 613 M - -
Net income 2020 375 M - -
Net Debt 2020 145 M - -
P/E ratio 2020 158x
Yield 2020 -
Capitalization 65 725 M 65 725 M -
EV / Sales 2020 8,65x
EV / Sales 2021 5,55x
Nbr of Employees 25 000
Free-Float 64,2%
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Technical analysis trends BOOKING HOLDINGS INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 1 972,44 $
Last Close Price 1 697,71 $
Spread / Highest target 76,7%
Spread / Average Target 16,2%
Spread / Lowest Target -8,70%
EPS Revisions
Managers
NameTitle
Glenn D. Fogel President, Chief Executive Officer & Director
Robert J. Mylod Chairman
David Ian Goulden Chief Financial Officer & Executive Vice President
Jeffery H. Boyd Director
Thomas E. Rothman Independent Director
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