Booking Holdings Reports Record Revenue and Room Nights in 2025, Despite 15% Share Decline Due to AI Concerns
🛠 Booking Holdings achieved a record 1.2 billion room nights in 2025, generating $26.9 billion in revenue, a 13% increase, with adjusted EBITDA up 20% to $9.9 billion. However, shares fell 15% in 2026 due to fears of AI-driven disintermediation in travel bookings. The company invested $700 million in AI and related projects, impacting EBITDA by $300 million. Despite fears, direct traffic rose to mid-60%, reducing dependency on Google. Market valuation varies from operational achievements.
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