Booking Holdings (BKNG) Boosts Holiday Season With New Deals
Booking Holdings BKNG gears up for the upcoming holiday season with its subsidiary Priceline to usher in the annual Black Friday and Cyber Monday sale next week.
Starting Nov 22, 2022, Priceline will provide customers with exciting deals and curated offers for the entire week.
Along with the everyday deals on Priceline, customers can avail coupons and discounts for additional savings on hotels, flights, rental cars, cruises and vacation packages.
Moreover, Priceline will provide its email subscribers with Mystery Coupons offering up to 99% off on Hotel Express Deals. Compared with last year’s level, Priceline plans to send twice as many 99% off coupons and an additional 25% and 50% off Mystery Coupons.
With these exciting offers, Priceline aims to gain momentum among travelers, driving BKNG’s top line during the holiday season.
Booking Holdings Inc. Price and Consensus
Booking Holdings Inc. price-consensus-chart | Booking Holdings Inc. Quote
Priceline Division in Focus
Priceline is a leading online travel agency, known best for offering discount rates on travel-related purchases, such as airline tickets and hotel stays.
Priceline is steadily making progress, primarily in the U.S. domestic travel market, with the country showing faster signs of recovery than the global travel market from the impacts of the coronavirus pandemic.
Apart from the recent initiative, Priceline, in collaboration with the leading tours and activities business Musement, introduced Priceline Experiences to dish out a flurry of activities for travelers to spice up their outings.
Priceline also collaborated with a high-speed network connectivity provider T-Mobile U.S. The latter provides exclusive Priceline deals, backed by BKNG’s division Rocket Travel on the T-Mobile TRAVEL vacation website.
Competitive Travel Market
Growing initiatives in Priceline position Booking Holdings well to capitalize on the prospects in the booming travel market.
Per a ResearchAndMarkets report, the global travel market is likely to reach $451.2 billion by 2026, witnessing a CAGR of 13.9% during the 2022-2026 forecast period.
Given the solid potential in the travel market, not only BKNG but other online travel agencies like TripAdvisor TRIP, Expedia EXPE and Airbnb ABNB are also making strong efforts to expand their presence in this market.
TripAdvisor is riding on its Tripadvisor Plus subscription offerings. Additionally, its growing partnerships remain positive. In March, TRIP collaborated with Walgreens to promote the latter’s COVID-19 testing solutions so that travelers who are symptomatic, unvaccinated or planning to engage in a mixed group of vaccinated and unvaccinated individuals, can enjoy safe trips.
Expedia is gaining traction from customers owing to its robust portfolio offerings. Moreover, its website provides travelers with destination and flight plan choices, details of the places to be visited, maps, local restaurants, things to do, cruises, special offers and consumer reviews, so that they can book according to their preferences.
Airbnb’s growing technological efforts to attract more hosts and guests to its platform remain noteworthy. This apart, ABNB recently joined forces with Visit Bloomington to promote safe travel with a focus on local attractions, unique stays and experiences to boost travel demand in Bloomington. The partnership also focuses on supporting local shops, restaurants and the city’s workforce, which largely depend on the local tourism industry.
Nevertheless, Priceline’s growing services and strategic partnerships are expected to help BKNGboost its competitive edge against the above-mentioned peers.
Currently, Booking Holdings carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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