Booking Holdings (BKNG) Boosts Offerings With Trip Intelligence
Booking Holdings BKNG continues to introduce advanced tools to deliver a customized travel-booking experience to customers.
The latest unveiling of an innovative suite of tools called Trip Intelligence by the company’s subsidiary, Priceline, testifies to the aforesaid fact.
Trip Intelligence, comprised of 40 booking tools and site enhancements, is based on Priceline's customer insights.
With the latest tool, Priceline strives to offer smart ways of booking a trip for travelers.
Also, the recent launch has added strength to BKNG’s solution offerings.
Booking Holdings Inc. Price and Consensus
Booking Holdings Inc. price-consensus-chart | Booking Holdings Inc. Quote
More on the Headlines
More precisely, the underlined suite includes a first-to-market generative AI-based booking solution called Penny that acts as a travel assistant across Priceline's hotel network. It aids travelers in getting the right information regarding hotels through conversational interaction and features payment tokenization.
Thus, travelers can make their bookings within Penny seamlessly and securely.
This apart, the new suite enables customers to select the right hotel as per their preferences with the help of neighborhood intel features that provide street-level views of hotels, neighborhood ratings and weather updates. The feature also shows the distance to various attractions from the hotels.
Further, the suite offers family-friendly filters, allowing the customers to book a family or group trip easily with the help of requirement-based recommendations and suggestions of accommodations, flights and rental cars.
Also, a flight rebook feature is included in the new suite, enabling customers to rebook their flight using their airline credit right on Priceline.
Bottom Line
We believe Booking Holdings remains well-poised to expand its footprint in the online travel booking market on the back of Trip Intelligence.
Per a report from Grand View Research, the global online travel booking market is expected to witness a CAGR of 9% between 2022 and 2030.
Per an Allied Market Research report, the market is likely to reach $1.8 trillion by 2031, seeing a CAGR of 14.8% between 2022 and 2031.
Booking Holdings’ growing prospects in this promising market are expected to aid it in winning investors’ confidence in the near term.
Notably, BKNG has gained 34% in the year-to-date time frame, outperforming the industry’s 31.2% growth.
Further, these prospects are likely to benefit the financial performance of the company in the near term.
The Zacks Consensus Estimate for 2023 revenues is pegged at $20.35 billion, indicating 19.1% growth from 2022.
Zacks Rank & Stocks to Consider
Currently, Booking Holdings carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the retail-wholesale sector are The TJX Companies TJX, ContextLogic WISH and Walmart WMT, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The TJX Companies gained 7.3% on a year-to-date basis. The long-term earnings growth rate for DTC is currently projected at 16.74%.
ContextLogic has lost 55.1% on a year-to-date basis. The long-term earnings growth rate for WISH is currently projected at 4.4%.
Walmart gained 11.7% on a year-to-date basis. The long-term earnings growth rate for WMT is currently projected at 5.5%.
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