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50 online travel booking statistics (latest 2024 figures).

Bradley Williams

Did you know that online travel booking had a $521 billion market size in 2023 ? And that this is estimated to hit $1 trillion in 2030 ?

As technology becomes a crucial part of our lives, the way that travellers plan and book their trips today have evolved. 

There are now websites and mobile apps to buy flight tickets, reserve cheap hotel rooms , and book travel experiences.

With the constant changes in traveller’s behaviour and consumer trends, it can be important to understand how researching is done for travels.

This includes understanding more deeply about the online travel booking market, the global leaders in this industry, as well as the current trends and how mobile booking compares to websites.

Today we have some interesting statistics about online travel booking for you. 

From the number of online travel companies there are currently to how the Coronavirus pandemic has impacted online booking.

Sources: With each stat, I have included the source for the data. Please go to the end of this post for a complete summary of all the sources and articles used here.

Travellerspoint

Online travel booking popular questions

What percentage of bookings are made online.

By 2019, 57% of all travel bookings were made online. Meanwhile, 68% of all sales in travel & tourism are made online in 2022.

travel sales channel

What is the most popular travel booking site?

Booking.com was the most globally visited travel and tourism website in September 2023, when it received 554.5 million visits .

Which are the two largest online travel agencies worldwide?

In September 2023, Booking.com and Tripadvisor received around 554 million and 156 million visits, respectively.

most visited online travel agencies

How much is the global online travel sales?

In 2018, global online travel sales made $694 billion, a 10.4% increase compared to the previous year

Online travel booking main findings

  • Online sales will generate 76% of revenue in the travel & tourism sector by 2028
  • Among the many online travel agencies worldwide, Booking reported the highest revenue in 2021
  • Marketplace bookings experienced a dramatic increase from 3.2% in 2017 to 9.1% in 2018, while direct online bookings fell from 79.2% to 66.7%
  • 39% of users would download an app over using the mobile website because of the speed, while 30% enjoy the increased functionality of a mobile app
  • 4 in 5 hotel customers who have been asked to leave a review do so
  • Between 2016 and 2021, the portion of online travel sales via mobile has been steadily increasing compared to desktop or laptop, from only 36% to nearly 50% of all digital travel sales
  • Around 50% of users in 2020 claimed that they made more last-minute travel bookings during the pandemic

Online travel booking market

What percentage of travel bookings are made online?

1. According to Statista, online sales will generate 76% of revenue in the travel & tourism sector by 2028.

Online travel booking is continuously taking up the travel booking market, and Statista estimates that by 2028, online sales will make up 76% of all revenue in travel and tourism.

2. In 2021, the online travel market size worldwide was $432 billion.

3. this figure rose slightly to $475 billion in 2022 and $521 billion in 2023..

The latest data on the global online travel agent industry stated that the market size in 2023 was $521 billion.

4. The online travel market size is predicted to reach over $1 trillion by 2030.

And with the rise of the digital nomad movement , the Internet will continue to play an increasingly large role in the travel industry.

online travel market size

5. The Singaporean online travel market size was the highest amongst selected Southeast Asian countries, with the gross merchandise value (GMV) recorded at $7 billion in 2023.

In comparison, in 2023, the Philippines saw an online travel market size of $3 billion.

6. In 2018, global online travel sales made $694 billion, a 10.4% increase compared to the previous year.

[JerseyIslandHolidays]

7. By 2019, 57% of all travel bookings were made online.

Travel bookings include accommodation, flight, tour, and other related activities.

8. Even back in 2012, 9 in 10 people researched their holiday online before making reservations, whereas 8 in 10 booked their holiday online.

[TravelWeekly]

Online travel booking has been a huge thing this past decade. In 2012, 90% of people conducted online research before booking their holidays. Meanwhile, 80% of people did their bookings online.

Online travel companies

What are the leading online travel agencies in the world?

9. Among the many online travel agencies worldwide, Booking reported the highest revenue in 2021.

In 2021, Booking.com was the online travel agency with the highest revenue.

10. Their revenue has consistently increased from $1.41 billion in 2007 to a record high of $15.07 billion in 2019.

11. as of december 2022, booking.com has a market cap of $78,171 million, making it the global market leader..

In terms of the online travel company market, Booking.com dominated with $78.17 billion in market capitalization in December 2022.

Market cap of leading online travel companies

12. The second place goes to Airbnb with a market cap of $54,137 million.

Meanwhile, Airbnb has the second highest market capitalization with $54,137 million .

13. In the US in 2018, Tripadvisor used to be the leading travel website as it attracted 18% of all online users.

In 2018, the most popular travel website in the US was Tripadvisor, which was used by 18% of American online travel users .

14. Hotels.com ranked fourth at 11%, while Booking.com and Expedia placed sixth and seventh with 9% each.

15. booking.com was the most globally visited travel and tourism website in september 2023, when it received 554.5 million visits..

In terms of website visits, Booking.com is the most visited travel and tourism website in the world. It received 554.5 million visits in September 2023 alone.

16. With 156 million visits in September 2023, Tripadvisor is the second most visited travel and tourism website worldwide.

Online travel booking trend.

How many people make travel bookings online?

17. The majority of travellers in the US claim that they’d spend less than a week researching once they have decided to travel.

[Facebook IQ]

Most travellers from the US spend less than a week researching their travels.

18. The most popular day of the week for people to book trips on is Monday, while Saturday is the least popular.

[TrekkSoft]

TrekkSoft referred to 3 random data points between August and September 2019.

19. Meanwhile, the busiest time of day for booking is 10am CET. 6am CET is usually the least busy time.

20. marketplace bookings experienced a dramatic increase from 3.2% in 2017 to 9.1% in 2018, while direct online booking fell from 79.2% to 66.7%..

From 2017 to 2018, there was a significant increase in marketplace booking from 3.2% to 9.1%. On the other hand, less people booked directly on travel accommodation and company websites (from 79.2% to 66.7%).

21. By 2023, 700 million guests will book hotel rooms online.

It is estimated that 700 million guests will be booking their hotel rooms online by 2023.

22. A survey in the US in 2023 revealed that the most popular brand for flight search engine online bookings was Expedia.

This was a representative online survey with 2,405 consumers in the US.

23. Meanwhile, the most popular option for hotel and private accommodation online bookings in the United States was Booking.com, with Hotels.com and Expedia following.

Mobile and app travel booking.

How do mobile travel bookings compare with app bookings?

24. 39% of users would download an app over using the mobile website because of the speed, while 30% enjoy the increased functionality of a mobile app.

[SaleCycle]

Two of the most popular benefits of mobile apps compared to websites are the increased speed and functionality.

25. 1 in 5 users also report better user experience as a major reason for downloading a travel booking app.

20% of users also report that they download travel booking apps because of the better user experience.

26. Moreover, 11% download the app for the reward and discount the company offers.

Meanwhile, only 11% of users download a travel booking app for the reward and discounts they get.

27. Between 2016 and 2021, the portion of online travel sales via mobile has been steadily increasing compared to desktop or laptop, from only 36% to nearly 50% of all digital travel sales.

The last 5 years have been an important period for the growth of online travel sales via mobile as it increased from 36% to almost 50% of all digital travel sales.

US digital travel sales by device

28. In 2018, 82% of travel bookings were online either through websites or mobile applications.

29. nearly half (48%) of mobile phone users would be happy to book and plan a trip to a new place only using their mobile device..

37% of millennial parents actually rely on online reviews when picking where to visit.

30. The conversion rate for bookings made via mobile phone is only 0.7%, less than half of bookings made through desktop at a 2.4% conversion rate.

People are more likely to go through with their bookings when accessing websites through desktop (2.4% conversion rate) than mobile (0.7%).

31. 46% of all solo travellers make their hotel bookings by mobile.

[Phocus Wire]

Online travel booking is very important for solo travellers. In fact, 46% rely on mobile apps and access to book their hotels.

32. In 2022, the most downloaded OTA app worldwide was the Booking.com mobile app, which had 80 million total downloads on iOS and Google Play in that year.

The second place was secured by Airbnb, which had approximately 52 million mobile app downloads in 2022.

33. Between 2023 and 2027, the travel segment of the mobile app market is expected to increase by a total of 64%, or $0.8 billion, until it reaches $2 billion by 2027.

Reviews in online travel booking.

How many customers leave reviews when booking travels online?

34. 4 in 5 hotel customers who have been asked to leave a review do so.

35. meanwhile, 22% of customers would write a review without being requested..

22% of hotel customers always leave a review without being asked.

36. 95% of all reviews by travellers are positive.

An overwhelming majority (95%) of hotel reviews by customers are positive.

hotel reviews

37. Tripadvisor’s report states that 96% of users think that reading reviews is important for their booking process.

[TripAdvisor]

83% of users usually refers to reviews before deciding on a hotel, while 76% depends on guest-uploaded travel photos for decisions.

38. According to SaleCycle, 54% of guests have written at least one review in the last 12 months.

More than half of all guests have written at least one review in the last year.

Coronavirus and online travel booking

How did the Covid-19 pandemic affect the online travel booking sector?

39. Booking.com’s revenue dropped from $15 billion in 2019 to only $6.8 billion in 2020.

The Covid-19 pandemic has caused Booking.com’s revenue to decrease by more than half in 2020, to just $6.8 billion.

40. Expedia, the online travel agency making the second highest revenue, experienced a similar decrease from $12 billion the previous year to around $5.2 billion in 2020.

41. tripadvisor’s revenue fell by almost 55% from $1.56 billion in 2019 to $604 million in 2020..

The popular travel destination and accommodation website, Tripadvisor, also saw a dramatic 55% decrease in revenue from $1.56 billion in 2019 to $604 million in 2020..

42. Around 50% of users in 2020 claimed that they made more last-minute travel bookings during the pandemic.

COVID-19 on travel booking behavior

The future of online travel booking

What will online travel booking look like in the future?

43. According to SaleCycle, 30% of guests in a hotel who interact with a Chatbot would spend more than those who don’t.

Chatbots in hotel websites can play a crucial role in customer spending.

44. Almost 7 in 10 travellers use voice search technology when planning their trip.

70% of all travellers worldwide use voice search technology during the planning stage of their trip , and it’s reasonable to assume that this percentage would increase.

45. 67% of high-income tourists choose to spend money on experiences over expensive hotel rooms.

A majority of high-income tourists claim they would choose to spend more money on travel experiences than expensive hotel rooms.

46. 73% of tourists say that they plan to stay in an eco-friendly accommodation within the next year.

Region specific online travel booking statistics, 47. in canada, the top two products on a “travel product online bookings” survey in 2023 were hotels and flight tickets..

The travel survey was done online among 2,006 respondents in Canada , in which the top answers had been hotels and flight tickets.

48. The same top two answers came up in a similar survey in the US.

In the US, the travel survey was conducted among 10,011 respondents.

49. In 2023, the “travel product online bookings” survey in the UK also revealed hotels and flight tickets as the most common answers.

British respondents of a 2023 travel survey revealed that the most booked travel products online were hotels and flight tickets.

50. The same series of survey showed that in India, the top two most popular type of online booking for travel products were long distance train tickets and hotels.

Interestingly, when the survey was conducted among 4,034 participants in India , the top two answers changed.

In 2023, the most popular type of travel products that Indians tend to book online are hotels and long distance train tickets.

To conclude, it’s safe to say, based on data at least, that the online travel booking market will only grow and become more prevalent. 

As we expect the market size to increase and take over traditional booking methods, travel-related businesses would benefit from developing their online booking system, especially where corporate and business travel is concerned.

Among the many online travel companies worldwide, Booking.com was the one to record the highest revenue back in 2020. 

Meanwhile, Tripadvisor leads in terms of website visits as it became the most visited travel and tourism website.

While revenue for most companies had fallen due to the Coronavirus pandemic, this was to be expected as other businesses also experienced a decrease during this trying time.

At the same time, people have made more last-minute travel decisions in this pandemic era.

We can easily assume that online websites and mobile apps play a crucial role in their planning and booking.

We hope these statistics have been useful to help you understand more about online travel booking! 

Did we miss any important information? 

Drop your comments and thoughts down below.

Interested in our other statistic guides?

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online travel booking revenue

Booking Revenue and Usage Statistics (2024)

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Updated: March 28, 2024

Booking is one of the oldest online travel agencies still active today, originally launched in 1996 by Geert-Jan Bruinsma as Bookings.nl, which was then merged with Booking.com at the tail end of the dotcom bubble in 2000.

At the same time, Priceline.com was falling headfirst into bankruptcy, after declaring a $1.1 billion loss in 1999 and seeing its stock tank from $974 to $7 a share. Somehow, it survived while many other .com websites failed, and in 2006 acquired Booking.com.

online travel booking revenue

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In the two decades since acquisition, Booking has acquired many other companies in the online travel space, including Agoda.com, Kayak, Cheapflights, Rentalcars.com, Momondo, and OpenTable. Booking has also expanded its services to include rental cars, airline tickets, and homestays.

Booking and Expedia were the two dominant online travel agencies throughout the 2000s and early 2010s, with the duopoly acquiring most other websites and apps. However, the launch of Airbnb forced both to expand to homestays and short-term rentals.

That said, Booking is still the market leader when it comes to bookings volume, especially outside the US where the majority of transactions take place.

We have collected data and statistics on Booking. Read on below to find out more.

Disclaimer: Financial data below is for Booking Holdings, which includes Priceline, Agoda, Kayak, Cheapflights, Momondo, and OpenTable. About 89 percent of its revenues came from Booking.com and the affiliated app.

Booking Key Statistics

  • Booking generated $21.3 billion in 2023, a 25.2% increase year-over-year
  • Booking reported $150 billion bookings volume in 2023
  • Over one billion nights were booked and 36 million airline tickets purchased in 2023
  • Booking had 120 million active mobile users in 2023

online travel booking revenue

Travel App Report 2024

Want to learn more about the travel app industry? In our Travel App report , we cover financials, usage, downloads, and demographics by age and gender, alongside market share, and benchmarks.

Booking Overview

Booking revenue.

Booking Holdings’ total revenues for the full year 2023 were $21.3 billion, an increase of 25.2% from the prior year.

Booking quarterly revenue 2010 to 2023 ($mm)

Booking annual revenue 2010 to 2023 ($bn).

Source: Company data 

Booking Profit

Booking has made an annual net profit every year. It reported $4.2 billion net profit in 2023.

Booking annual net income 2010 to 2023 ($mm)

Source: Company data

Booking Transaction Volume

Gross travel bookings of $150.6 billion, an increase of 24.1% from the prior year.

Booking annual bookings volume 2016 to 2023 ($bn)

Note: Transaction volume = bookings volume. Source: Company  data

Booking Room Nights Booked

Similar to transaction volume, Booking increase its room nights booked in 2023.

Booking annual room night booked 2016 to 2023 (mm)

Booking airline tickets.

Airline ticket sales reached 36 million in 2023, a 56% increase on the year prior.

Booking annual airline tickets bought 2016 to 2023 (mm)

Booking rental cars.

Booking rental car bookings almost reached 2019 levels in 2023, at 74 million.

Booking annual rental cars days hired 2016 to 2023 (mm)

Booking users.

Booking had over 100 million users on its mobile app in 2023, accounting for 50% of its total bookings.

Booking annual app users 2018 to 2023 (mm)

Booking downloads.

Booking’s app was the most downloaded online travel agency app worldwide in 2023, with 74 million aggregate downloads.

Booking annual app downloads 2018 to 2023 (mm)

Booking vs competitors: us market share, booking faq, how many people have used booking.com.

Since 2007, Booking has been responsible for over three billion bookings across all of their property types.

What percentage of bookings are made on the Booking app?

According to Booking , 40 percent of all bookings in the first quarter of 2022 were made via the app.

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Worldmetrics report 2024, online travel booking industry statistics.

Last Updated: May 2, 2024

Highlights: The Most Important Statistics

In 2020, the direct total gross online travel booking value amounted to $330 billion globally.

Online travel booking through mobile devices is set to reach 79.12% by 2025.

Around 82% of travel bookings made in 2018 were completed via a website or mobile app.

Digitally-influenced travel sales were estimated at $648 billion in 2020.

About 37% of hotel room revenue is booked through an online platform.

In the US, 57% of all travel reservations are made on the internet.

In 2019, mobile accounted for about 48% of total digital travel sales in the US.

More than 148.3 million travel bookings are made online each year.

The online travel market is projected to reach $1,091 Billion, globally, by 2022.

By 2023, online travel bookings are forecast to reach $817 billion worldwide.

50% of millennial travelers have booked vacations through a smartphone.

As of 2020, the biggest online travel agency worldwide is Booking Holdings, owning Booking.com, Priceline, and Kayak.

More than 700 million people will book travel online by 2023.

The U.S. has the highest number of online travel bookers with 148.3 million.

Travel e-commerce revenue in 2020 is about $319 billion.

67% of American leisure travelers typically plan their vacations online.

In 2020, Expedia took second place with almost 900 million U.S. dollars in gross bookings.

37% of travelers in the U.S. found user reviews important for choosing the booking platform.

The Latest Online Travel Booking Industry Statistics Explained

In 2020, the global direct total gross online travel booking value reached $330 billion, indicating the complete amount spent through online channels for booking travel services such as flights, accommodations, car rentals, and activities. This statistic highlights the increasing popularity and reliance on online platforms for making travel arrangements, with the ease and convenience of comparing options and securing bookings playing a significant role in shaping consumer behavior. The substantial monetary value underscores the significant role that online travel booking plays in the overall travel industry, as consumers gravitate towards digital platforms for planning their trips and experiences.

The statistic indicating that online travel booking through mobile devices is projected to reach 79.12% by 2025 suggests a significant shift in consumer behavior towards using mobile platforms to book travel accommodations. This trend highlights the increasing reliance on mobile technology for conducting transactions and the growing convenience and accessibility of mobile devices for travel planning. As mobile devices continue to evolve and offer improved functionality and user experience, it is expected that a large majority of individuals will opt for the convenience and mobility of booking their travel arrangements through their smartphones and tablets. This statistic underscores the importance for travel companies to prioritize mobile-friendly websites and applications to cater to this evolving consumer preference.

The statistic indicates that the majority of travel bookings in 2018, accounting for approximately 82%, were conducted online through a website or mobile application. This suggests a significant shift towards digital platforms for planning and reserving travel arrangements, reflecting the growing trend of consumers preferring the convenience and accessibility of online booking systems. The high percentage underscores the importance of online platforms in the travel industry, highlighting the need for travel companies to prioritize their digital presence and invest in user-friendly websites and mobile apps to cater to the evolving preferences of travelers.

The statistic that digitally-influenced travel sales were estimated at $648 billion in 2020 indicates the significant impact of digital technologies on the travel industry’s revenue generation. This figure represents the total travel sales that can be attributed to the influence of digital platforms, such as online travel agencies, booking websites, and travel apps. The substantial sum highlights the growing trend of consumers using digital channels to research, plan, and book their travel arrangements. As digital platforms continue to evolve and offer more convenience and personalized experiences, it is expected that the influence of digital channels on travel sales will only increase in the future.

The statistic ‘About 37% of hotel room revenue is booked through an online platform’ indicates that a significant portion (approximately 37%) of the total revenue generated by hotel room bookings comes from online platforms. This suggests a growing trend in the hospitality industry where customers are increasingly turning to online platforms to book their accommodations. The statistic highlights the importance for hotels to have a strong online presence and effective digital marketing strategies in order to capture a sizeable share of the market and remain competitive in today’s rapidly evolving technological landscape.

The statistic that 57% of all travel reservations in the US are made on the internet indicates the significant impact of online platforms on the travel industry. This percentage suggests that a majority of travelers are choosing the convenience and accessibility of booking their trips online over traditional methods such as through travel agencies or over the phone. The popularity of online reservations may be attributed to the wide range of options available, the ability to compare prices easily, and the flexibility to book at any time. This trend highlights the shift towards digitalization in the travel sector and emphasizes the importance for businesses in the industry to have a strong online presence to cater to the preferences of modern travelers.

In 2019, the statistic highlights that mobile devices, such as smartphones and tablets, were responsible for approximately 48% of all digital travel sales in the United States. This means that nearly half of the revenue generated from online travel bookings, including activities like hotel reservations and flight bookings, came from transactions conducted on mobile platforms. This trend underscores the increasing importance of mobile technology in the travel industry, signaling a shift in consumer behavior towards using mobile devices for planning and purchasing travel services. It also emphasizes the significance for companies in the travel sector to optimize their online experiences for mobile users to capitalize on this growing market segment.

The statistic “More than 148.3 million travel bookings are made online each year” indicates the scale and significance of online travel booking activities globally. This statistic underscores the widespread adoption and reliance on online platforms for organizing travel arrangements, such as flights, accommodations, tours, and car rentals. The sheer volume of over 148.3 million bookings annually signifies a substantial shift towards digital channels for planning and booking travel, highlighting the convenience, accessibility, and efficiency afforded by online booking platforms. This statistic reflects the evolving trends in consumer behavior and technology utilization within the travel industry, demonstrating the growing preference for digital solutions in facilitating travel arrangements.

The statistic ‘The online travel market is projected to reach $1,091 Billion, globally, by 2022’ indicates the estimated total value of the online travel industry by the year 2022. This projection suggests a significant growth in the online travel market as more consumers turn to the internet to book their travel arrangements. The figure of $1,091 billion highlights the massive scale of this market on a global level, showcasing the increasing importance of online platforms in the travel industry. This statistic is significant for stakeholders in the travel and tourism sector, as it underscores the opportunities and challenges presented by the expanding online travel market.

The statistic “By 2023, online travel bookings are forecast to reach $817 billion worldwide” indicates the projected total value of online travel bookings that are expected to occur globally in the year 2023. This forecast suggests a significant growth trend in the online travel industry, with travelers increasingly opting to book their trips through online platforms over traditional methods. The $817 billion figure reflects the anticipated total amount of money that will be spent on booking flights, accommodations, and other travel services via online channels, highlighting the expanding influence and reliance on digital platforms within the travel sector.

The statistic ‘50% of millennial travelers have booked vacations through a smartphone’ indicates that half of individuals in the millennial age group, typically defined as those born between 1981 and 1996, have used their smartphones to make travel reservations. This finding highlights the significant influence of mobile technology on the travel industry, particularly among younger generations who are more likely to embrace digital advances. The widespread adoption of smartphones has made it easier for millennials to research, compare prices, and book their vacations conveniently on-the-go, reflecting a shift towards mobile-first behavior in travel planning and booking processes.

The statistic indicates that as of 2020, Booking Holdings is identified as the largest online travel agency globally, which is the parent company of prominent brands such as Booking.com, Priceline, and Kayak. This suggests that Booking Holdings has the largest market share in the online travel agency industry compared to its competitors. The ownership of multiple well-known brands within the online travel sector may contribute to Booking Holdings’ dominant presence and success in serving travelers worldwide. Additionally, this statistic highlights the company’s strategic position and influence in shaping the online travel market landscape.

The statistic that more than 700 million people will book travel online by 2023 indicates the increasing trend of consumers utilizing online platforms to make travel arrangements. As technology continues to advance and digital platforms become more accessible, convenient, and user-friendly, more individuals are opting to book their travel requirements online. This statistic reflects the changing landscape of the travel industry, where online booking systems offer a wide range of options, flexibility, and competitive pricing. The significant number of people projected to book travel online highlights the shift towards digitalization and the importance for businesses in the travel sector to adapt to these changing consumer behaviors.

The statistic “The U.S. has the highest number of online travel bookers with 148.3 million” indicates that the United States has the largest volume of individuals who book travel online compared to any other country. This figure of 148.3 million represents the total number of people in the U.S. who utilize online platforms and websites to make travel arrangements such as booking flights, accommodations, and other travel-related services. This statistic highlights the popularity and widespread adoption of online booking among Americans, suggesting that digital channels are a prevalent and convenient choice for planning travel in the U.S.

The statistic indicating that travel e-commerce revenue in 2020 amounted to approximately $319 billion represents the total monetary value generated through online transactions within the travel industry for that particular year. This figure reflects the significant impact of e-commerce platforms in facilitating bookings and sales related to travel services such as flights, accommodations, tours, and car rentals. The considerable revenue highlights the growing trend and popularity of online travel booking as consumers increasingly turn to digital channels for their travel planning and purchasing needs. The statistic serves as a key indicator of the substantial economic activity and opportunities within the online travel sector, showcasing the industry’s relevance and significant contribution to the global economy.

The statistic “67% of American leisure travelers typically plan their vacations online” indicates that a significant majority of leisure travelers in the United States use online resources to organize and arrange their travel experiences. This percentage suggests a strong trend towards digital platforms for trip planning, reflecting the prevalent use of the internet for researching destinations, booking accommodations, and coordinating transport. The statistic highlights the importance of online tools and websites in the modern travel industry, showcasing a shift away from traditional methods of planning vacations. Overall, this data underscores the significant role that technology plays in shaping and influencing how individuals plan and embark on their leisure trips.

The statistic “In 2020, Expedia took second place with almost 900 million U.S. dollars in gross bookings” indicates that Expedia, a popular online travel company, secured the second position in terms of generating revenue through sales of travel services in the year 2020. The gross bookings figure of almost 900 million U.S. dollars highlights the significant financial impact of Expedia within the travel industry during that period. This statistic gives insight into Expedia’s strong market presence and its ability to attract customers to book various travel-related services through its platform, positioning it as a key player in the competitive travel market.

The statistic indicates that 37% of travelers in the United States consider user reviews to be an important factor in selecting a booking platform for their travel needs. This implies that a significant portion of travelers place value on feedback and opinions from other users when making decisions about where to book their accommodations, flights, or other travel services. The emphasis on user reviews suggests that prospective travelers prioritize the experiences and insights of others in shaping their own choices, potentially influencing the reputation and success of different booking platforms within the travel industry.

0. – https://www.oberlo.com

1. – https://www.phocuswire.com

2. – https://www.prnewswire.com

3. – https://www.alliedmarketresearch.com

4. – https://www.thinkwithgoogle.com

5. – https://www.emarketer.com

6. – https://www.statista.com

7. – https://www.trekksoft.com

8. – https://skift.com

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60+ online travel booking statistics & trends

A look at how the online travel booking industry has fared so far.

  • The online travel industry generated revenue worth $667.55 billion in 2023. The travel industry is projected to grow at a compound annual growth rate (CAGR) of 12.99% between 2023 and 2030—when it’s expected to hit $1569.25 billion.
  • China has the highest growth potential in the online travel booking industry. This growth can be attributed to the growth of the middle-class income group, an increase in disposable income, and wider access to the Internet.
  • Flight demand in 2023 was roughly 95% of what it was before the coronavirus pandemic.
  • In the six surveyed countries, 50% of travelers planned to travel more in March and May 2023, compared to the same period the previous year.
  • 31% of those who changed their travel plans in 2023 planned to reduce travel or take shorter trips due to increasing cost-of-living prices, while 27% opted for booking closer-to-home trips.

How people book—researching and buying behaviors

  • According to the Trends Global Survey, 80% of global travelers surveyed feel it’s important to be able to book their trips entirely online, with 86% of Millennials and 83% of Gen Zers leading the charge.
  • 76% of global travelers said they look for travel apps that reduce the friction and stress of travel.
  • Last year, the top five online resources used by most travelers were: OTAs (80%), search engines (61%), social media (58%), airline websites (54%), and meta-travel websites (51%).
  • Travelers spent over 5 hours consuming online travel content to seek inspiration and plan their trip in the 45 days before finally booking their journey.
  • Social media had the greatest influence on leisure travelers’ travel destinations, with 75% of travelers saying social media posts inspired their trips to a specific destination in 2023. 
  • Most American travelers (92%) in 2023 said that they wanted to save on travel by focusing on accommodation prices instead of amenities (39%) and driving instead of flying (35%). 
  • Reviews from other travelers (29%) 
  • Free WiFi (24%)
  • Accommodation facilities (23%)
  • Room photos (22%)
  • In the consideration stage of planning and booking corporate travel , videos, and photos are the two most critical factors that affected global travelers’ decisions in 2022. They also looked at a hotel’s ability to showcase its amenities and guest experience while deciding on a place to stay.
  • Three of the most impactful deal breakers for most travelers were bland and unappealing hotel rooms, non-aesthetic food photos, and boring content presentation.
  • 17% of people in the United States have bought some form of travel app subscription to help them plan their travels in 2022.
  • By June 2023, travel app log-ins were 87% higher than by the end of 2019.

Online booking statistics indicate a renewed outlook of travelers worldwide

  • In 2023, a large majority of travelers (72%) said they preferred to book their trips online, compared to only 12% that preferred using a travel agency.
  • Of those that book travel online, 53% cited it’s because of the speed at which they can plan their trip (perfect for last-minute trips), 47% said it’s easier to compare prices and 42% said it’s better to find cheaper deals.
  • It’s forecasted that 76% of total revenue in the tourism and travel sector will be generated through online sales by 2028.
  • Monday was the most popular day for booking travel, and Saturday was the quietest day.
  • 63% of travelers believed technology plays a key role in controlling health risks during trips and reduces travel anxiety in a post-pandemic world.
  • The percentage of shoppers that abandoned their travel purchase was 85% for desktop users and 91% for those buying on a mobile device.
  • In 2023, 48% used their mobile device for destination research, 47% to compare transport and accommodation prices, and 40% to book flights and hotels.
  • 97.8% of travel executives stated that AI would have an impact over the next 1-5 years in the industry.
  • Over a fifth (22%) of global travelers have used ChatGPT or similar AI chatbots to plan travel.
  • Four out of five travelers who booked online visited an OTA "at some point" before booking, "even if travelers booked on another website."

Biggest blockers and frustrations in online travel booking

  • 45.1% of travelers said they were concerned about how much data companies hold on them in 2023 and only 23.1% felt in control of their data.
  • In a study of 15,000 Tripadvisor reviews, it was found that flight irregularities emerged as the most discussed topic (36%) for travelers, compared to 20% in 2019.
  • 43% of Americans didn’t like booking travel, including 23% of GenZ travelers. The experience gap between booking travel and actually traveling is notably high.
  • One in three travelers prioritized flexibility over all other factors when making reservations.
  • 74% of travel agents surveyed believed buying and selling travel plans could be simplified. 86% of agents were in favor of modernizing the user experience to boost online travel sales.
  • One of the biggest factors hampering travel bookings was the lack of transparency. Comparing too many options is challenging and becomes a roadblock.
  • A third of families considered the process of searching for the best flights and making online hotel bookings extremely time-consuming—23% of them didn’t enjoy booking trips.
  • 43% of business travelers felt frustrated that the search function of travel sites was limited to the budget or the date.
  • 60% of surveyed travelers believed travel options were filled with hidden costs and were not upfront enough.
  • 45% of travelers preferred booking a trip from start to finish from a single website that presents options for flights, accommodations, car rentals, and extras.
  • Millennials booked their travel needs via travel agencies. They’d book their hotel via travel agencies, however, 52% would look at the hotel’s website for more information.
  • Users spent, on average, 40% more via desktop than mobile devices when booking online. SaleCycle said that “perhaps users feel more comfortable booking high-ticket holidays on a bigger screen.”

Travel booking is going mobile

  • People used mobiles to browse more than purchase since 60% of all online traffic came from mobile, however, desktop accounted for 62.5% of online sales.
  • The mobile users’ average online order value has grown by 29% since 2020. 
  • The mobile travel booking market is projected to grow at an anticipated value of $612.5 billion by 2031.
  • In 2020, the gap between desktop and mobile booking sales was 75% compared to 2022 where the gap was reduced to 40%.
  • Almost one-third (32%) of travelers used a website through a mobile device to book travel and 23% used a mobile app directly in 2023.

How is online business travel booking evolving

  • 87% of business travelers and corporate travel managers wanted more simplified booking services and processes. 42% of them thought booking a trip was actually more challenging than traveling itself.
  • 82% of travel agents reported a need for digital retailing for both leisure and business travel. A better customer experience is a priority for both types of travel.
  • Travel booking fell short of the top three easiest buying experiences behind booking a restaurant online, buying clothes online, and browsing and buying electronic/physical goods online.
  • For 38% of respondents, the average frequency of business trips was once every 2-3 months. 32% traveled once or twice every month for business purposes.
  • Business travelers spent 52 days getting inspired and planning their trip, and 43 days between booking and starting their trip.
  • 87% of employees think that in-person meetings and business travel are important to company growth.
  • However, despite there being more interest in business travel, companies were worried about their carbon footprint. In fact, four in 10 European companies and a third of American companies said they needed to reduce travel per employee by more than 20% to meet their 2030 sustainability targets.
  • In 2024, 63% of companies are investing more in sustainable travel and 80% of business travelers want more sustainable options when booking.
  • 88% of corporate travelers want full transparency into what they are buying when buying online.

Role of online travel agents in a post-pandemic world

  • 41% of those surveyed preferred booking via online travel agencies (OTAs) while 29% booked via travel agents or operators. Around 20% of them booked via travel agents.
  • Demographical data from North America showed that people under 35 years of age were more inclined to use OTAs for booking hotel rooms.
  • The average browser abandonment rate for OTAs was approximately 81.54%, indicating how travelers frequently used online travel booking websites to find and compare options.
  • In a scenario where prices are identical on hotel websites and OTAs, 70% of respondents said they would book via an OTA.
  • Some of the biggest reasons why people preferred OTAs were the security, convenience, loyalty discounts, and credible online reviews that they offered.
  • Booking trends indicate that 12% of travelers thought booking websites should provide a much faster and more frictionless experience than booking directly on hotel websites.
  • Out of the 141 pages that travelers looked at 45 days before traveling, OTAs were the most viewed (67), followed by airline websites (33).
  • OTA’s are used by 80% of travelers before making any purchase.
  • 61% of travelers visited an OTA before making a booking on a hotel site.

Modernize the way you book business travel

Travelers take a stand for sustainability.

  • 74% of travelers thought people needed to make more sustainable choices to save the planet for future generations.
  • 64 % of American travelers said in 2023 that they were looking for accommodation establishments with high sustainability innovation and practices.
  • In 2023, 49% of travelers believed more sustainable travel options were too expensive, however, 43% said they were willing to pay extra for travel options with a sustainable certification.
  • In 2022, 66% of travelers wanted travel companies to offer more sustainable travel choices. However, in 2023, that number increased to 74%.
  • 76% of global travelers wanted to travel more sustainably in 2023.
  • More than half (51%) of travelers said there weren’t enough sustainable travel options and 43% could recall seeing at least one product or service on a travel website that had to do with sustainable travel.
  • Almost two-thirds of travelers (61%) said they wanted to use more environmentally-friendly modes of transport like trains.
  • Almost 80% of travelers said they were willing to spend at least 10% more for eco-tourism and adventure travel in 2023.
  • Global travelers were increasingly attentive to how far they traveled and what means they would take to make their journeys. 23% of them chose to minimize their carbon footprint by picking a destination closer to home.

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  • Market cap of leading online travel companies worldwide 2023

As of September 2023, Booking Holdings was the online travel company with the highest market cap worldwide. As of that month, Booking Holdings - the leading online travel agency (OTA) worldwide by revenue - recorded a market cap of roughly 112.8 billion U.S. dollars. Airbnb and the Trip.com Group followed in the ranking, with a market cap of around 91.1 and 23.2 billion U.S. dollars, respectively.

Market cap of leading online travel companies worldwide as of September 2023 (in million U.S. dollars)

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September 2023

as of September 18, 2023

Other statistics on the topic Online travel market

  • Revenue of Booking Holdings worldwide 2007-2023
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Travel, Tourism & Hospitality

  • Market size of the tourism sector worldwide 2011-2024
  • Revenue of Tripadvisor worldwide 2008-2023
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Statistics on " Online travel market worldwide "

  • Travel and tourism revenue worldwide 2019-2028, by segment
  • Distribution of sales channels in the travel and tourism market worldwide 2018-2028
  • Online travel market size worldwide 2017-2028
  • Revenue of the travel apps industry worldwide 2017-2027
  • Estimated EV/Revenue ratio in the online travel market 2024, by segment
  • Estimated EV/EBITDA ratio in the online travel market 2024, by segment
  • Travel product online bookings in the U.S. 2024
  • Travel product online bookings in Canada 2024
  • Travel product online bookings in the UK 2024
  • Travel product online bookings in China 2024
  • Travel product online bookings in India 2023
  • Importance to book a trip fully online among travelers worldwide 2023, by generation
  • Revenue of leading OTAs worldwide 2019-2023
  • Marketing expenses of leading OTAs worldwide 2019-2023
  • Marketing/revenue ratio of leading OTAs worldwide 2019-2023
  • Number of employees at leading travel companies worldwide 2022
  • Number of aggregated downloads of leading online travel agency apps worldwide 2023
  • Most popular travel and tourism websites worldwide 2024
  • Number of bookings through Booking Holdings worldwide 2010-2023, by segment
  • Operating income of Booking Holdings worldwide 2007-2023
  • Net income of Booking Holdings worldwide 2007-2023
  • Revenue of Expedia Group, Inc. worldwide 2017-2023, by business model
  • Operating income of Expedia Group, Inc. worldwide 2007-2023
  • Net income of Expedia Group, Inc. worldwide 2007-2023
  • Airbnb revenue worldwide 2017-2023
  • Airbnb revenue worldwide 2019-2023, by region
  • Airbnb operations income worldwide 2017-2023
  • Airbnb net income worldwide 2017-2023
  • Total revenue of Trip.com Group 2013-2023
  • Revenue of Trip.com 2013-2023, by product
  • Revenue of Trip.com 2017-2023, by region
  • Net income of Trip.com 2013-2023
  • Revenue of Tripadvisor worldwide 2017-2023, by business segment
  • Revenue of Tripadvisor worldwide 2012-2023, by region
  • Operating income of Tripadvisor worldwide 2008-2023
  • Net income of Tripadvisor worldwide 2008-2023

Other statistics that may interest you Online travel market worldwide

Industry overview

  • Premium Statistic Market size of the tourism sector worldwide 2011-2024
  • Premium Statistic Travel and tourism revenue worldwide 2019-2028, by segment
  • Premium Statistic Distribution of sales channels in the travel and tourism market worldwide 2018-2028
  • Premium Statistic Online travel market size worldwide 2017-2028
  • Premium Statistic Revenue of the travel apps industry worldwide 2017-2027
  • Premium Statistic Estimated EV/Revenue ratio in the online travel market 2024, by segment
  • Premium Statistic Estimated EV/EBITDA ratio in the online travel market 2024, by segment

Online bookings

  • Premium Statistic Travel product online bookings in the U.S. 2024
  • Premium Statistic Travel product online bookings in Canada 2024
  • Premium Statistic Travel product online bookings in the UK 2024
  • Premium Statistic Travel product online bookings in China 2024
  • Premium Statistic Travel product online bookings in India 2023
  • Premium Statistic Importance to book a trip fully online among travelers worldwide 2023, by generation

Market leaders

  • Premium Statistic Revenue of leading OTAs worldwide 2019-2023
  • Premium Statistic Marketing expenses of leading OTAs worldwide 2019-2023
  • Premium Statistic Marketing/revenue ratio of leading OTAs worldwide 2019-2023
  • Premium Statistic Number of employees at leading travel companies worldwide 2022
  • Basic Statistic Market cap of leading online travel companies worldwide 2023
  • Premium Statistic Number of aggregated downloads of leading online travel agency apps worldwide 2023
  • Premium Statistic Most popular travel and tourism websites worldwide 2024

Booking Holdings

  • Basic Statistic Revenue of Booking Holdings worldwide 2007-2023
  • Premium Statistic Number of bookings through Booking Holdings worldwide 2010-2023, by segment
  • Premium Statistic Operating income of Booking Holdings worldwide 2007-2023
  • Premium Statistic Net income of Booking Holdings worldwide 2007-2023

Expedia Group

  • Premium Statistic Revenue of Expedia Group, Inc. worldwide 2007-2023
  • Premium Statistic Revenue of Expedia Group, Inc. worldwide 2017-2023, by business model
  • Premium Statistic Operating income of Expedia Group, Inc. worldwide 2007-2023
  • Premium Statistic Net income of Expedia Group, Inc. worldwide 2007-2023
  • Premium Statistic Airbnb revenue worldwide 2017-2023
  • Premium Statistic Airbnb revenue worldwide 2019-2023, by region
  • Premium Statistic Airbnb operations income worldwide 2017-2023
  • Premium Statistic Airbnb net income worldwide 2017-2023

Trip.com Group

  • Premium Statistic Total revenue of Trip.com Group 2013-2023
  • Premium Statistic Revenue of Trip.com 2013-2023, by product
  • Premium Statistic Revenue of Trip.com 2017-2023, by region
  • Premium Statistic Net income of Trip.com 2013-2023

Tripadvisor

  • Premium Statistic Revenue of Tripadvisor worldwide 2008-2023
  • Premium Statistic Revenue of Tripadvisor worldwide 2017-2023, by business segment
  • Premium Statistic Revenue of Tripadvisor worldwide 2012-2023, by region
  • Premium Statistic Operating income of Tripadvisor worldwide 2008-2023
  • Premium Statistic Net income of Tripadvisor worldwide 2008-2023

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  • Premium Statistic Reach of the most popular online travel sites in Asia Pacific 2014
  • Premium Statistic Online travel agency share of gross bookings in Europe 2015
  • Premium Statistic OTA market share in the hotel industry in the Nordics 2013-2021
  • Premium Statistic Skyscanner funnel sessions 2015-2021
  • Premium Statistic Unique visitors to most popular online travel sites in Asia Pacific 2014
  • Premium Statistic EBITDA of Skyscanner 2012-2020
  • Premium Statistic Global revenue of trivago 2019-2023, by geographical segment
  • Premium Statistic Revolve Group annual net sales 2016-2017
  • Premium Statistic Ranking of online travel agencies based on revenue in the Netherlands 2017
  • Premium Statistic Asia Pacific digital travel sales growth 2014-2019, by country
  • Premium Statistic Mexico: Black Friday average online order value 2016-2017
  • Premium Statistic Most common duration before a trip to purchase travel tickets on OTAs in Taiwan 2023
  • Premium Statistic Most common duration before a trip to book accommodation on OTAs in China 2023
  • Premium Statistic Reasons for not using OTAs for purchasing tickets or services Singapore 2023
  • Premium Statistic Time of booking other travel services on OTA-platforms India 2023, by age group
  • Premium Statistic Online travel agency usage India 2023, by age group

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  • OTA market share in the hotel industry in the Nordics 2013-2021
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Business Wire

Online travel agencies will witness high growth opportunities

The global travel market is recovering from the negative effects of the pandemic, according to the recent data cited in the report.

This provides a growth momentum to the online travel booking channel, which is poised to expand substantially in 2022 compared to the past year. For instance, the USA will see a double-digit growth of the gross airline bookings coming from online channels after 2022.

For the Asia-Pacific market as well, the use of online platforms for booking travel related services is expected to rise in the coming years, with double-digit CAGR predicted for countries including Indonesia, Singapore and Thailand.

Booking.com leads the online travel market sales across regions

As revealed by this report, Booking.com was the highest revenue maker globally within the online travel agencies market, reaching to a double-digit billion of dollars revenue figure in 2021.

It also had a close to hundred million mobile app downloads in the same year. In Asia-Pacific, Booking.com was the most visited travel and tourism website. Competitors such as Expedia Group and Airbnb also experience growth in various markets as highlighted in the new report.

Questions Covered in the report:

  • What are the emerging trends currently and, in the future, impacting the Online travel market?
  • Which are the leading Online Travel Apps and websites globally?
  • What is the projected development of online travel booking in the Southeast Asian market by 2024?
  • What is the expected growth of Online Travel bookings in Europe as of 2025?
  • As of 2021, which are the top payment methods used by travelers in Mexico to book travel online?
  • What are the most preferred travel booking channels in the Middle Eastern and African regions?

Key Topics Covered:

1. Management Summary

  • Travel Market Overview and Trends, July 2022 (1 of 2)
  • Travel Market Overview and Trends, July 2022 (2 of 2)
  • International Departures, in % of 2019 Levels, 2022e-2025f
  • Online Travel Agencies Gross Bookings, in USD billion, 2018-2020 & 2025f
  • Breakdown of Internet Traffic Source in Travel & Hospitality vs All Industries, by Devices, in %, 2021
  • Breakdown of Online Travel Sales, by Desktop and Mobile, in %, 2020 & 2021
  • Cart Abandonment Rate in Online Travel to Overall E-Commerce, in %, 2021
  • Online Travel Cart Abandonment Rate, by Desktop and Mobile, in %, 2021
  • Reasons Why Consumers Abandon Their Carts During Travel Booking, in % of Consumers Who Abandoned Their Carts, 2021
  • Revenue of the Top 5 Travel Websites, in USD billion, 2021
  • Top 10 Most Downloaded Online Travel Agency Apps, by Downloads, in millions, 2021

3. North America

  • Online Travel Agencies Gross Bookings, in USD billion, 2019, 2021 & 2022f
  • Online Travel Agencies' Share of Online Travel Gross Bookings, by Segment, in %, 2021
  • Online Hotel Gross Bookings, in USD billion, and Breakdown by Direct and OTA, in %, 2019, 2021 & 2023f
  • Top 10 Hotel Booking Channels, incl. OTAs and Direct, 2021
  • Fastest Growing Online Travel Agency Apps, in % Y-O-Y App Session Growth, Q4 2021
  • Gross Direct Airline Bookings Made Via Mobile Devices, in USD million and Mobile Share of Direct Online Gross Booking in %, 2019 - 2025f
  • Top 5 Features of Travel Credit Cards, in % of Respondents, August 2021

4. Asia-Pacific

4.1. Regional

  • Top 10 Hotel Booking Channels, incl. "OTA" and "Direct Booking", 2021
  • Online Travel Gross Bookings, in USD billion, 2019 & 2024f
  • Online Travel Bookings, in CNY trillion, 2020 & 2021e
  • Breakdown of Online Travel Gross Merchandise Value by Direct and OTA, in %, 2021
  • Online Travel Agencies Gross Merchandise Value, in CNY billion, Y-O-Y Change in %, 2019-2022f
  • Factors Online Travel Bookers Pay Attention to, in % of Online Travel Bookers, 2021
  • Top 5 Online Travel Websites by Monthly Active Users, in millions, 2021
  • China: Top 5 OTAs by Market Share, in % of Online Travel Agencies Sales, 2021
  • Breakdown of Online Travel Ticket GMV by Segment, in %, and Online Share of GMV in Each Ticket Segment, in %, 2021
  • Gross Merchandise Value of Online Accommodation Market, in CNY billion, in % Y-O-Y Change, 2019-2022f
  • Virtual Tour Sales, in JPY billion, 2020 & 2021e
  • Reasons for Choosing Virtual Tours, in % of Respondents, 2021
  • Total Travel Sales, in USD billion, and Breakdown by Channel, in %, 2020 & 2027f
  • Top 10 Online Travel Booking Channels, incl. "OTA" and "Direct Booking", 2021

4.5. Australia

  • Online Travel Bookings, in AUD million, And Year-on-Year Change, in %, 2018-2022f

4.6. Indonesia

  • Online Travel Gross Merchandise Value, in USD billion, 2019-2021 & 2025f

4.7. Thailand

  • Online Travel Gross Merchandise Value, in USD billion, 2021 & 2025f

4.8. Singapore

4.9. Malaysia

4.10. Vietnam

4.11. Philippines

5.1. Regional

Online Share of Total Travel Bookings, in %, 2021 & 2025f

  • Number of Guests in Short-Stay Accommodation Booked via Online Platforms, in millions, 2019-2021
  • Number of Visits to Travel Websites, by Category, in thousands, and in % Change, January 2022 & April 2022
  • Travel Website Reach, by Category, in %, and Top Player in Each Category, Q1 2022

5.3. Germany

  • Online Travel Agency Sales Growth Compared to Levels in the Same Period in 2019, in %, May - October 2022e
  • Share of Adults Using the Internet to Search for Information Before Purchasing Goods and Services, by Category, incl. "Travel", in % of Online Shoppers, 2021
  • Travel Information Researched Online, by Category, in million Trips, 2020 & 2021
  • Use of Digital and Analog Channels to Book Travel, by Age Group, in % of Travelers, 2021
  • Channels Used by Travelers to Book a Holiday, by Duration of Trips, in % of Travelers, 2021
  • Top Reasons for Booking a Holiday Online, in % of Travelers, 2021

5.4. France

  • Breakdown of Preferred Booking Channels Used When Booking a Holiday Accommodation, in % of Travelers, 2021
  • Breakdown of Preferred Booking Channels, by Category, in % Travelers, 2021
  • Top 10 Travel Sites, by Number of Visitors, in thousands, January 2022
  • Online Channels Used to Book Flight Tickets, by Age Group, in % of Travelers, by Age Group, 2021
  • Share of Online Bookings Concluded Directly on the Website of the Hotel/ Private Accommodation, in % of All Accommodation Bookings, 2019 - 2021
  • Mobile Share of Supplier-Direct Online Gross Travel Bookings, in %, 2021 & 2025f
  • Goods and Services Bought Online, incl. "Travel", in % of Online Shoppers, 2020 & 2021
  • Top 5 Booking Channels, in % of Travel Reservations, 2021

5.7. Netherlands

  • Top 5 Travel and Tourism Websites, by Visits*, May 2022

5.8. Russia

  • Travel Revenue Generated from Online Channels, in %, 2024f
  • Top 5 Travel and Tourism Websites, by Visits, May 2022

5.9. Poland

  • Share of Travelers Booking Their Trips via OTAs, in %, Q4 2021

6. Latin America

6.1. Regional

  • Online Travel Sales, in USD billion, 2019-2020 & 2024f

6.2. Brazil

  • Online Travel Penetration Rate, in %, 2023f
  • Top 5 Travel and Tourism Websites Ranked by Visits*, May 2022

6.3. Mexico

  • Breakdown of the Channels Used to Purchase Travel Related Products and Services, in % of Travelers, 2021
  • Payment Methods Used By Travelers Book Travel Online, in % of Digital Travelers, 2021

7. Middle East & Africa

7.1. Regional

  • Breakdown of Channels Used to Make Hotel Reservations, in %, 2021
  • Top 5 Most Visited Travel and Tourism Websites Ranked by Visits*, June 2022

7.3. Saudi Arabia

  • Top 5 Most Visited Travel and Tourism Websites, by Total Visits in millions, June 2022

7.4. South Africa

  • Top 10 Hotel Booking Channels, incl. OTA and Direct Booking, 2021
  • Top 5 Accommodation Booking Websites Ranked by Visits, June 2022

Companies Mentioned

  • Booking.com
  • Leboncoin.fr
  • Travel.Yandex.ru
  • Tripadvisor

For more information about this report visit https://www.researchandmarkets.com/r/gqpgx

ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

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Online Travel Agency Factbook 2022

Online Travel Agency Factbook 2022

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Report Overview

Skift Research’s Online Travel Agency Factbook is your one-stop shop to understand the global universe of online booking sites.

We collected data on and built individual profiles for the eleven largest publicly traded online travel agencies. We analyzed the scale, revenue, growth, profitability, historical performance, and customer acquisition ability of each OTA.

These businesses span five continents and account for a majority of all global online bookings (we estimate they represent ~75% of the total market).

This dataset allowed us to build a global market size as well as to draw up an apples-to-apples comparison of each business and understand how each OTA stacks up to their competitors across key performance indicators.

The online booking industry has mostly maintained commission levels and gross bookings are returning. Therefore, OTA revenue is recovering faster than most other travel sectors. However, profitability has been deeply hurt and is much slower to recover.

The ‘big 3’ OTAs – Trip.com Group, Booking Holdings, and Expedia Group – are steadily improving. The path ahead for smaller regionals like Lastminute.com, On the Beach, or Yatra is much choppier. Specialist product OTA results have been a coinflip. Airbnb won that toss and was the best performing booking site in the world during COVID, while on the opposite end of things Hostelworld has been one of the worst performing.

The full list of booking sites included is: Airbnb, Booking Holdings, Despegar, eDreams ODIGEO, Expedia Group, HostelWorld Group, lastminute.com, MakeMyTrip Limited, On The Beach Group, Trip.com Group (f/k/a Ctrip), and Yatra Online.

What You'll Learn From This Report

  • Global Online Travel Agency Market Size.
  • 11 Online Travel Companies in Numbers: Side-by-Side Comparisons.
  • Key performance indicators for each OTA covering dollars earned, margins and growth profiles, marketing efficiency, and historical performance.
  • Individual company profiles for each public booking site the explains what makes that particular OTA unique compared to the others.
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  • AMR in News
  • Press Releases
  • Request for Consulting
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Online Travel Market Size, Share, Competitive Landscape and Trend Analysis Report by Service types, Platforms, Mode of Booking ,and Age Group : Global Opportunity Analysis and Industry Forecast, 2022-2031

CG : Travel & Luxury Travel

✷  Report Code: A01415

Tables: 196

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The global online travel market size was valued at $354.2 billion in 2020, and is estimated to reach $1,835.6 billion by 2031, registering a CAGR of 14.8% from 2022 to 2031.

Online travel providers aim to ease travel planning and bookings for travelers. The online travel industry is being pushed by quick and easy flight and hotel bookings, an increase in customer trust in online payment, and the option to compare numerous available travel alternatives.. Market players are extensively offering travel services through mobile websites and apps, as it is one of the most preferred mediums of travel bookings, particularly among the young professionals.

Online-Travel-Market

The emergence of internet has led to intense exposure of people to social media sites. People first browse through websites, gather detailed information, and review the required product or service before making a purchase. In addition, social media such as Facebook, Twitter, and travel blogs have become a common medium for people to discuss travel plans. Social media acts as a platform for online travel service providers to advertise their services and special offers for online bookings garnering the online travel market growth during the forecast period.

Transportation segment helds the major share of 41.2% in 2020

Social and political disturbances affect the travel & tourism industry in specific regions. Customers tend to avoid these conflict prone areas even if they get travel services at affordable prices. Government of several nations have also declared instructions for travelers to refrain from traveling to countries affected with epidemics or social/political unrest. This, limits the scope of online travel booking to those countries thereby affecting the sales of the online travel market.

The online travel market segmented into service type, platforms, mode of booking, age group, and region. On the basis of service type, the market is categorized into transportation, travel accommodation, and vacation packages. By platform, it is segmented into mobile and desktop. On the basis of mode of booking, it is segmented into online travel agencies (OTAs) and direct travel suppliers. On the basis of age group, market is segmented into ¬22-31 years¬ 32-43 years¬ 44-56 years¬ and >56 years. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, and rest of LAMEA).

Desktop segment helds the major share of 69.3% in 2020

According to the online travel market trends, on the basis of service types, the travel accommodation segment was the considerable contributor to the market, with $123.7 billion in 2020, and is estimated to reach $719.5 billion by 2031, at a CAGR of 16.0% during the forecast period. Travelers are increasingly being offered a diverse range of hotel options at reasonable costs by market players.. Customers compare accommodation options at several websites to get the best affordable deal. Travelers choose specialized online accommodation providers such as Airbnb, Inc. and OYO Rooms because they provide a wide range of lodging alternatives.. Thus, above mentioned factors are  attributable for the growth of the market through travel accommodation segment.

According to the platforms, the mobile segment was the significant contributor to the market, and is estimated to reach $617.9 billion by 2031, at a CAGR of 15.8% during the forecast period. Increase in usage of mobile and innovative mobile travel apps majorly attribute for the growth of the market through mobile segment. Technology has changed the way people communicate and travel across the globe. With evolving technology and increase in use of mobiles, easy and efficient methods are being developed to make traveling easy and comfortable, thus increasing the growth of travel industry. Mobile travel apps are gradually gaining pace in the market and are preferred by travelers to make their travel arrangements. Thus, increase in usage of the smart phones and growth in digital literacy is likely to proliferate the growth of the online travel market.

Direct Travel Suppliers segment helds the major share of 55.7% in 2020

On the basis of mode of booking, the direct travel suppliers segment was accounted for major share in global online travel market and is expected  to sustain its share throughout the forecast period. Direct travel suppliers are the major revenue contributors in the product market. However, this segment witnesses an increase in threat from the growing online travel agencies (OTAs) market share. To remain competitive, airlines such as Lufthansa AG choose to circumvent OTAs by charging additional fees for bookings made through the OTAs.. The online travel industry through direct travel suppliers is developing at a slower rate, because customers are constantly using OTA platforms..                                

According to the online travel market analysis, on the basis of age group, the 22-31 Years segment was the considerable contributor to the market, with $102.0  billion in 2020, and is estimated to reach $539.2  billion by 2031, at a CAGR of 15.0% during the forecast period. The age group of 22–31 years comprises the young population, which are the early starters in their professional career. When compared to travelers in the older age groups, these travelers are more likely to spend more money on travel and visit new places. These travelers have changed the travel business because of their extensive use of technology, . Smartphones and other mobile devices are largely preferred to make travel arrangements. Furthermore, social media platforms are utilized to evaluate various travel service providers, locations, modes of transportation, and lodging. As a result, the industry is experiencing strong growth in the 22–31 year age group sector..

32 - 43 Years segment helds the major share of 33.6% in 2020

According to the online travel market opportunities, region wise, Asia-pacific gained significant online travel market share and is expected to sustain its share throughout online travel market forecast period. It possesses the highest growth potential in the online travel market, India and China being the most lucrative markets. The growth is attributed to the increase in disposable income, rise in middle-class segment, and greater penetration of internet facilities. Ctrip is the leading player in online travel market in China, whereas MakeMytrip, Yatra, and Cleartrip are the major online travel agencies (OTA) in India. 

The players operating in the global online travel industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Expedia Group, Inc., Ebury Partners UK Ltd, Fareportal Inc. , Hostelworld.com Limited, Hurb Co S/A, HRS, MakeMyTrip Ltd., Oracle Corporation, Priceline (Booking Holdings Inc.), SABS Travel Technologies, Tavisca Solutions Pvt. Ltd., Thomas Cook India Ltd., travelomatix.com, Trip.com Group, Tripadvisor, Inc., and WEX Inc.

North America region helds the major share of 33.3% in 2020

Key Benefits For Stakeholders

  • The report provides a quantitative analysis of the current trends, estimations, and dynamics of the market size from 2020-2031 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assist to determine the prevailing market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the online travel market.

  Online Travel Market Report Highlights

Analyst Review

The global online travel market is anticipated to witness robust growth in the emerging market of Asia-Pacific. The growth is attributed to increase in disposable income, rise in middle-class segment, and greater penetration of internet facilities. Business travel has also fueled market growth in Asia-Pacific. Approximately, 90% of corporate travelers in the region own either a smart phone or tablet. More than 50% of these travelers manage their travel through these devices. Companies cater to the needs of travelers through innovative mobile travel apps to gain market share. Apps with various features are being developed to stay connected to travelers throughout their journey and to assist them whenever required. Travel apps offer flexibility to travelers, thus becoming an important differentiating factor for the consumers while choosing a travel company. In addition, customers download hotel and airline apps for quick view and booking status. Thus, proliferation of mobile usage and innovative mobile travel apps are expected to foster the growth of the online travel market in the future.

  • Travel Destinations
  • Luxury Accommodations
  • Travel Packages
  • Adventure Travel
  • Luxury Travel Experiences
  • Travel Planning
  • Outdoor Activities

Total Market value of Online Travel report was valued at $354.2 billion in 2020.

14.8% is the CAGR of Online Travel Market

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2022 to 2031 would be forecast period in the market report Market

Expedia Group, Inc., Ebury Partners UK Ltd, Fareportal Inc. , Hostelworld.com Limited, Hurb Co S/A, HRS, MakeMyTrip Ltd., Oracle Corporation, Priceline (Booking Holdings Inc.) and SABS Travel

The online travel market segmented into service type, platforms, mode of booking, age group, and region

India online travel market was valued at $12.4 billion and is expected grow at 21.1% during the forecast period.

By the end of the 2031, Asia-Pacific is expected to dominate the online travel market.

Online travel market was negatively impacted the growth of the market and is expected grow at highest CAGR growth rate after COVID-19 scenario.

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Online Travel Market

Global Opportunity Analysis and Industry Forecast, 2022-2031

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Online Travel Booking Market: Global Industry Analysis and Forecast (2024-2030)

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70+ Stunning Online Travel Booking Statistics (2023 Figures)

online travel booking revenue

Online Travel Booking Major Statistics

General online travel booking statistics 2023, 2023 online travel booking statistics for market and industry, statistics for hotel reservations in 2023, comparing 2023 statistics: online booking vs. travel agency statistics, enlightening online travel booking statistics, must know online travel booking statistics 2023, online travel sustainability statistics.

Traveling provides unique experiences and memories. With numerous travel choices in today’s world, online trip booking has become an overload. And that’s what makes these intriguing online travel booking statistics. As of 2019, 57% of all travel bookings were made online. As per 2022 data, 68% of all travel and tourism sales were online.

Online Travel Booking Major Statistics

  • By 2026, online sales will make up 73% of the travel and tourism sector.
  • Booking was the top online travel agency in revenue in 2021.
  • Online marketplace bookings rose from 3.2% in 2017 to 9.1% in 2018.
  • Direct online bookings decreased from 79.2% to 66.7% during the same period.
  • 39% prefer app downloads for faster performance, while 30% like mobile app features.
  • 80% of hotel customers willingly leave reviews.
  • Mobile travel sales increased from 36% in 2016 to nearly 50% in 2021.
  • In 2020, about 50% reported more last-minute travel bookings due to the pandemic.

General Online Travel Booking Statistics 2023

1. Global online travel is up 15.4% .

2. The travel industry is worth $1.2 trillion .

3. 80% book holidays online.

4. Top categories: packages, transport, accommodation.

5. S at. quietest, Mon . busiest for bookings.

6. Travelers check 38 sites on average .

7. Booking.com has 443M active users .

8. Online travel sales hit $755B in 2019 .

9. 30% of holidays cost over £2,500, 70% over £1,500 .

10. Asia-Pacific shows high growth potential.

11. 50% prefer a single website for booking.

12. 60% say it’s their priciest online buy.

13. 2021: online travel sector $800B revenue .

14. Online sales make up 66% of industry revenue .

15. The U.S. online travel market is worth $190.4B/year .

Statistics for Market and Industry

16. The global online market is expected to hit $1 trillion in 2030 and $521B in 2023.

17. By 2026, the online travel market will grow to $690.71B .

18. 148.3 million travel books are made online each year .

19. Only 44% of website visitors make a purchase.

20. Travel booking is the 4th easiest online shopping experience.

21. 2018: Online travel sales are worth $694 billion, with 10.4% YoY growth.

22. The U.S. online travel market is $190.4 billion in annual sales.

Hotel Reservations

23. Over 700 million will book online by 2023.

24. 50% of American travelers spend 6 days on trip research .

25. Some book trips months in advance, others a week to a month .

26. The 50+ age group tends to book four months in advance.

27. The under-35 age group prefers Online Travel Agents.

28. 2 out of 3 online hotel bookings through official websites.

29. Average 2.2% conversion rate on hotel websites.

30. The top 20 hotels have a 5.6% conversion rate, and the bottom 20 have 0.3%.

31. Conversion rate influenced by website design and marketing.

32. 39% of all online bookings are for hotel reservations.

Online Booking vs. Travel Agency Statistics

Nearly 70% of Millennials like loyalty programs, but 39% think they’re not great . Online Travel Agencies (OTAs) like Expedia and Priceline help you find travel services easily. They have lots of options.  Online booking means going to the hotel or airline’s website.  Here are some facts:

33. OTAs have 39% of the U.S. online booking market.

34. 33% of this market belongs to Millennials (Gen Y).

35. Over half of Gen Y book travel or hotels using OTAs.

36. 87% of Millennials help friends and family with their journey.

37. Nearly 70% of Millennials like loyalty programs, but 39% think they’re not great .

38. Regarding booking hotels, 60% of global millennials prefer general travel sites, while 22% use hotel-specific sites.

39. When booking flights, 44% of millennials worldwide opt for airline websites, with only 34% using general travel sites. This shows that many global millennials go directly to airline websites for flight bookings.

40. Younger travelers aged 18-34 typically lean towards digital methods for trip planning, while those above 35 tend to stick to traditional approaches.

41. Over 60% of travelers aged 18-34 consider flight prices and airlines when booking, but the price holds more weight.

Enlightening Online Travel Booking Statistics

42. Within this age group, 22% prioritize flight prices over the airline.

43. In contrast, 4% of travelers above 34 focus on the airline, while 10% prioritize the price.

44. More than 24% of people in the U.S. still prefer using physical agencies for vacation bookings.

45. In 2023, over 30% of leisure travelers visiting the United States opt for privately owned accommodations.

46. Among hotel guests, 57% favor booking through the hotel’s website or online travel agencies (OTAs), signaling a shift from phone bookings.

47. Among surveyed people, 41% choose online travel agencies (OTAs) for trip bookings, 29% prefer travel agents or operators, and 20% stick with traditional agents, highlighting the shift to online convenience.

48. Travelers under 35 often use OTAs to book hotel rooms .

49. Approximately 81% of visitors to online travel booking sites leave without completing a booking.

50. Travelers prefer OTAs for security, convenience, loyalty discounts , and reviews.

51. 12% of travelers expect quicker accommodations booking through websites than booking directly through hotels.

Travel Booking Statistics

52. In 2018, 31% of internet-initiated hotel searches began via search engines, a 23% increase from 2017.

53. 23% of leisure travelers trust mobile devices to find flight and hotel details as much as desktop computers.

54. In July 2019, Booking.com received 697 million website visits , showing its influence.

55. TripAdvisor had 224 million website visits in the same month , solidifying its position as a go-to travel source .

56. Nearly 80% of travelers use their phones for information searches.

57. About 40% of travelers use virtual travel assistants for trip planning.

58. Google reports a 519% increase in travel searches with “tonight” and “today” in the past five years.

59. 70% of travelers use mobile devices to search for things to do, and 66% search for destinations .

60. Over 80% of business and corporate travelers desire a simpler booking process.

61. On average, travelers spend five days researching vacations to match their budgets.

62. Beach vacations are 2.5 times more popular than city breaks.

Travel Sustainability Statistics

63. A 10% increase from 2021 shows that 63% of travelers are willing to choose eco-friendly options.

64. While 30% prioritize sustainability even if it’s less convenient, 50% make eco-friendly choices if it’s easy.

65. Over 50% prefer accommodation with sustainability certifications.

66. More than 80% of travelers increasingly adopt sustainable practices.

67. Climate headlines influence 50% of eco-friendly plans .

68. 59% of travelers aim to improve the places they visit.

69. 33% travel during off-peak times to avoid crowds.

70. Beautiful natural places inspire 60% of sustainable travelers .

71. Over 54% choose eco-friendly travel to protect destinations from tourism , while 32% feel guilty about environmental harm.

72. More than 20% use websites for public transportation updates and bike rentals.

73. 33% choose closer destinations to reduce their carbon footprint.

74. 33% are open to spending $50 to $250 for eco-friendly travel.

75. 41% select sustainable accommodations to reduce environmental impact, 33% to experience local culture , and 31% to connect with the community.

76. While 56% of travelers don’t actively seek eco-friendly places , they’ll choose them if they are easy to book and convenient.

The rise of online travel bookings is clear, with over 50% of hotel reservations happening online. It’s all about convenience, a wide range of options, and great prices. These stats show the current trend and hint at a future where more travelers will go digital. They help us make budget-friendly and sustainable choices in our journeys, guiding us toward unforgettable adventures.

Why do travelers face several barriers when making sustainable travel choices?

Travels often encounter several barriers, which include lack of knowledge, potential extra costs, finding sustainable travel destinations, etc.

What is the most popular type of e-booking in the hospitality and tourism industry in 2023?

Hotel reservations contribute the most to e-bookings in the hospitality and tourism industry in 2023. According to Statista data, hotel reservations account for 39% of all e-bookings. This is unsurprising, as hotels are a key component of the hospitality and tourism industry.

What is the most popular platform for online travel bookings in 2023?

According to Statista, Booking.com is the most visited online travel booking platform in 2023, with a 25% market share. As of September, the platform recorded more than 550 million visitors. Also, Hotels.com and Expedia are popular platforms with a 20% and 15% market share, respectively.

What percentage of hotel bookings will be online in 2023?

According to Statista, over 57% of hotel bookings have been made online in 2023. This means that most hotel guests book their stays directly through the hotel’s website or online travel agencies (OTAs).

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46+ Online Travel Booking Statistics, Facts, and Trends [2023]

Max Woolf

Craving insights into online travel booking in 2023? 

You’ve landed at the right place. 

We’ve compiled, verified, and organized a list of the most up-to-date statistics, facts, and trends. 

Click below to navigate to a specific category, or read on for our KEY online travel booking stats.

Top Online Travel Booking Statistics (Editor’s Picks)

General online travel booking stats, facts, and trends, booking holdings, tripadvisor, expedia group.

As of 2023, the global online travel market is valued at $521.18B . It’s projected to exceed $1T by 2030, with a CAGR of 9.9% .

  • Most Americans ( 72% ) prefer to make their travel arrangements online.

72% of Americans prefer to book their trips online

  • Roughly 41% of Americans prefer OTAs to book trips. Another 29% book directly, and an additional 29% rely on travel agents or tour operators.
  • In 2023, online sales channels are projected to contribute 69% of global travel and tourism market revenue. This percentage is forecasted to increase to 74% by 2027.
  • The travel segment of the app market generates $1.23B in global revenue. It’s projected to reach $1.96B by 2027.
  • Major online travel agents typically charge commissions ranging from 15% to 25% , but smaller OTAs may offer rates as low as 4% .
  • Most Americans (72%) prefer to make their travel arrangements online.
  • As of 2023, the global online travel market is valued at $521.18B. It’s projected to exceed $1T by 2030, with a CAGR of 9.9%.
  • In 2023, online sales channels are projected to contribute 69% of the global travel and tourism market revenue. This percentage is forecasted to increase to 74% by 2027.

Among the top online travel companies, On the Beach and Holidaycheck exhibited the highest revenue CAGR: 146% from 2020 to 2022.

  • The travel segment of the app market now generates $1.23B in global revenue. It’s projected to reach $1.96B by 2027.
  • Online travel sites achieved a 76 out of 100 customer satisfaction score in 2023, a one-point increase from the previous year.
  • The travel technologies market was valued at $8.6B in 2020 and is projected to reach $12.5B by 2026, reflecting a 45% growth.
  • Almost half of worldwide travelers (45%) wish to use just one site to book their entire trip, including flights, hotels, car rentals, and additional services.

45% of worldwide travelers prefer a single site for booking entire trips

  • The United States tops the revenue ranking in the travel app market, generating ~$443M in 2022.
  • Hospitality and tourism apps had an average annual retention rate of 34% in 2022.
  • In 2021, 17% of Americans were subscribed to travel-related paid subscription programs or services, while 23% expressed interest in subscribing to such services.
  • As of 2022, around 14% of global consumers purchase travel and hospitality services using cryptocurrency.
  • Just 11% of leisure travelers worldwide report no frustration when planning trips online.
  • About 43% of US travelers don’t find pleasure in booking travel.
  • Booking.com, holding a market capitalization of ~$78.2B, claimed the top spot among worldwide online travel companies in December 2022.
  • Booking.com was the most popular travel and tourism site globally in May 2023, attracting ~582.5M visits.
  • Booking Holdings generated revenue of about $17.1B in 2022.
  • The net income of Booking Holdings crossed the $3B mark in 2022.
  • Room nights accounted for 91% of Booking Holdings’ total bookings in 2022, making it the company’s primary business segment. The total number of bookings reached 981M, surpassing pre-pandemic levels.
  • The Booking.com mobile app was the most downloaded online travel agency app globally in 2022, amassing ~80M combined downloads in the App Store and Google Play.
  • Booking generated revenue of more than $9B through mobile devices in 2022.
  • Booking Holdings’ global total assets reached around $25.4B in 2022, increasing by ~$1.7B compared to 2021.

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  • In 2022, TripAdvisor, Inc. generated ~$1.49B in global revenue.
  • The revenue of Tripadvisor in the United States reached ~$905M in 2022.
  • Tripadvisor recorded a net income of approximately $20M in 2022.
  • The cumulative number of reviews and ratings on Tripadvisor worldwide exceeded one billion.
  • Airbnb operates in ~98% of the world, excluding North Korea, Syria, Iran, and Sudan.
  • Airbnb’s global revenue in 2022 amounted to $8.4B.
  • In 2022, North America generated the highest revenue for Airbnb worldwide, reaching $4.2B.
  • Airbnb’s net income in 2022 amounted to $1.89B.
  • The North American region recorded the highest gross booking value per night for Airbnb in 2022, at $240.29.
  • In 2022, Airbnb recorded more than 393M booked nights and experiences.
  • The number of Airbnb hosts exceeds 4M, with 90% being individuals.
  • Among Airbnb hosts in 2022, women accounted for 49% of the total.
  • Every second, around six guests check in to Airbnb rentals.

Every second, around six guests check in to Airbnb rentals

  • The global number of Airbnb listings surpassed 7M in 2022.
  • Airbnb’s global total assets reached $16.04B in 2022.
  • Expedia Group, Inc. recorded global revenue of around $11.67B in 2022, an increase from $8.6B in the preceding year.
  • In 2022, around 68% of Expedia’s total revenue came from the United States.
  • Expedia recorded a net income of $352M.
  • In 2022, Expedia’s American Customer Satisfaction Index (ACSI) score was 73, slightly higher than the satisfaction level of the overall internet travel site industry.
  • Expedia ranks as the leading flight search engine in the US, based on a Statista Consumer Insights survey conducted in March 2023.
  • Expedia’s lodging business segment proved the most lucrative in 2022, bringing in ~$8.9B.
  • In 2022, Expedia recorded gross bookings exceeding $95B.

Stacking It All Up

There you have it.

A comprehensive list of online travel booking statistics, facts, and trends.

Let us know in the comments if there are any other stats you’d like to see.

How big is the online travel market?

What’s the online travel agency (ota) market size.

The global OTA market was worth $269.51B in 2021. It’s projected to grow at 6.42% CAGR, hitting $391.39B by 2027.

What are the biggest online travel agencies worldwide?

Booking.com, holding a market capitalization of ~$78.2B , is the biggest online travel company as of December 2022. It’s followed by Airbnb ( $54.137B ) and Trip.com ( $22.08B ).

What’s the fastest-growing OTA?

How many people use online travel agencies.

Roughly 41% of Americans use online travel agencies (OTAs) to book their trips.

What are the largest online travel agencies by revenue?

As of 2022, Booking ( $17.09B ), Expedia ( $11.67B ), and Airbnb ( $8.4B ) are the largest online travel agencies in terms of generated revenue.

How much commission do online travel agencies charge?

Major online travel agents typically charge commissions ranging from 15% to 25% , but smaller and more niche OTAs may offer rates as low as 4% .

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  • Airbnb, Inc., “Form 10-K”
  • Alchemer, “2023 Mobile Customer Engagement Benchmark Report”
  • Amadeus, “Delivering Traveler Value”
  • Apptopia, “Worldwide and US Download Leaders 2022”
  • Booking Holdings Inc., “Form 10-K”
  • Cloudbeds, “What Are Online Travel Agencies? The Guide to Hotel OTAs”
  • CryptoRefills Labs, “Consumer Report 2022”
  • Expedia Group, Inc., “Form 10-K”
  • Globe Newswire, “Online Travel Agency (Ota) Market (New Insights Report) by 2023 Which Is Booming Strong Growth in the Globe till 2028”
  • GP Bullhound, “Q4 2022 Insights into Digital Commerce”
  • Grand View Research, “Online Travel Booking Service Market Size, Share Report, 2030”
  • Market Sampler, “How People Book Hotels in 2022? What Gets Attention and Which Channels People Prefer?”
  • MarketWatch, “2030, Online Travel Agency (OTA) Market Size | Industry Report 2023”
  • Passport Photo Online, “Airbnb: 60+ Statistics, Trends, and Facts”
  • Research and Markets, “Global Online Travel Market”
  • Research and Markets, “Travel Technologies: Global Strategic Business Report”
  • Similarweb, “Top Travel and Tourism Websites Ranking”
  • Statista, “Consumer Insights”
  • Statista, “Online Travel Market – Statistics & Facts”
  • Statista, “Travel Bookings: Online Vs. Agency”
  • The American Customer Satisfaction Index, “Travel Study 2022-2023”
  • Travelport, “Fixing Travel Retailing”
  • Trip.com Group Limited, “Form 20-F”
  • Tripadvisor, Inc., “Form 10-K”
  • Tripadvisor, “Travel in 2022: A Look Ahead”

Max Woolf

As a Digital PR specialist and a member of the Society of Professional Journalists (SPJ), Max has 5+ years of writing experience. Over the course of his career, Max’s work has garnered significant attention, with features in numerous prominent publications such as The New York Times, Forbes, Inc., Business Insider, Fast Company, Entrepreneur, BBC, TechRepublic, Glassdoor, and G2.

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Global Online Airline Booking Market 2022

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  • October 2022
  • Region: Global
  • yStats GmbH & Co. KG
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Air travel demand across regions is estimated to reach at least three quarters of pre-pandemic levels in 2022

The overall online travel booking experience is still not optimal worldwide

The post-pandemic surge in overall travel has led to gradual growth of the online air travel revenues, with revenues experiencing a single-digit CAGR between 2020 and 2021, as revealed by the new report. Although there has been a shift from offline to online booking platforms, consumer expectations with regards to user-friendly experiences remain to be fulfilled. According to a global survey, close to half of the respondents want to book flights and other travel essentials through a single website. But around one third of the respondents still find comparing offers difficult and time consuming when searching and booking flights online. Thus, a certain percentage of respondents do not enjoy booking trips and flights online. It therefore comes as no surprise that airlines experience the second-highest cart abandonment rate globally among selected industries. The percentage of users abandoning their carts when booking via specific online travel websites is also high.

Countries are on the way to recovery in air travel demand

North America remains the region with the largest estimated air travel net profits in 2022, followed by Europe and Asia-Pacific.. Full recovery of the air travel demand in North America is expected in 2022, with other regions in the world estimated to all reach at least over 70% of pre-pandemic air travel levels. Despite such a recovery, some countries in Asia-Pacific are not on the same growth trajectory as others. In China, for example, the strict travel restrictions and uneven vaccine rollout have caused the country’s recovery to lag. The Russia-Ukraine war is also still disrupting the air travel in Europe. Nevertheless, all regions are expected to recover in the long run. The air travel demand in Europe is still estimated to reach a high double-digit percentage of pre-pandemic levels.

Questions Covered in the report:

  • How did the pandemic change the online flight booking market in 2020 and 2021?
  • Which countries are leading in terms of online air travel revenue?
  • What are the biggest concerns of air travelers?
  • Which channels are preferred by travelers worldwide for researching and purchasing airline tickets?
  • What are the leading airline websites worldwide?

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Aerolineas 
  • Cheapflights 
  • Latamairlines 
  • TripAdvisor
  • Vivaaerobus 
  • Commercial Aerospace

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Travel invented loyalty as we know it. Now it’s time for reinvention.

Travel brands didn’t invent loyalty programs, which have been traced to as far back as the 18th century . 1 James J. Nagle, “Trading stamps: A long history,” New York Times , December 26, 1971. But ever since the first major airline frequent flier programs appeared in the early 1980s—soon to be followed by similar programs from hotel chains—the travel industry has become known for letting customers accumulate redeemable “miles” and “points.” Modern-day voyagers are deeply familiar with loyalty-related concepts such as status tiers, members-only lounges, and point-earning credit cards.

Travel loyalty programs were originally designed to influence travelers’ behavior. By offering rewards such as free flights and hotel rooms to frequent customers, a company might convince power users to consolidate their travel spending with its brand. Why fly airline X when you’re halfway to earning a free perk for remaining faithful to airline Y?

Over time, many travel loyalty programs became wildly successful—not just as a way to boost sales or strengthen customer relationships but as major profit centers in their own right. Travel companies found they could sell loyalty points in bulk to, for instance, banks, which in turn offered the points to their credit card customers as rewards for spending. In 2019, United’s MileagePlus loyalty program sold $3.8 billion worth of miles 2 Brian Sumers, “How is United Airlines’ loyalty program worth $22 billion?,” Skift, June 15, 2020. to third parties, which accounted for 12 percent of the airline’s total revenue for that year. In 2022, American Airlines’ loyalty program brought in $3.1 billion in revenue, and Marriott’s brought in $2.7 billion. 3 Form 10-K, fiscal year ending December 31, 2022, American Airlines Group, Inc.; Form 10-K, fiscal year ending December 31, 2022, Marriott International, Inc. Many loyalty programs have evolved into discrete divisions with their own profit-and-loss ledgers.

Along the way, however, some travel players have shifted their focus away from the original purpose of these programs. As loyalty programs have become powerful bottom-line enhancers, companies have sometimes been tempted to view them first and foremost as revenue generators instead of tools to sway customers’ behavior or to improve customers’ experiences . The postpandemic resurgence of travel demand has also pressured companies to shore up their loyalty programs’ viability by devaluing members’ points and miles and enacting rule changes that have at times caused customer frustration. At the same time, innovative loyalty programs in other industries are raising the bar, opening customers’ eyes to the value that loyalty programs can offer.

As a result of these factors, travel loyalty program members have become increasingly disloyal. For some customers, reaching the top tier of a loyalty program is still almost a facet of their personal identities—“Just a couple of more flights, and I’ll reach elite status!” But many loyalty program members now seem more inclined to play the field. The warm feelings at the heart of loyalty, which lead travelers to show allegiance to a brand and trust that their faithful behavior will be noticed, seem to fade when brands let their focus drift away from rewarding their most valuable and consistent customers.

Loyalty is about more than a program, a department, or a tangible redemption offer.

Loyalty is about more than a program, a department, or a tangible redemption offer. True loyalty is won through a genuine desire to forge bonds with customers and thereby maximize each customer’s lifetime value to the brand. Travel brands, therefore, should consider rethinking and reinventing their loyalty programs in ways that frame loyalty as something more than points and miles. A mindset shift, coupled with three practical actions, could help restore the luster of loyalty programs while bringing straying customers back into the fold.

A mindset shift, coupled with three actions, could restore the luster of loyalty programs while bringing customers back into the fold.

How we got here: Disruption, devaluation, and dissatisfaction

When travel came to a halt as a result of the COVID-19 pandemic, many travel brands—hoping to keep customers happy—“froze” the loyalty program status levels of members who might have otherwise lost perks due to a lack of travel activity. When travel spending was slow to resume, brands changed their program rules to make status tiers significantly easier to reach and maintain. These moves made sense in the face of an unprecedented disruption, with far fewer miles and points being redeemed.

But as travel recovered, loyalty programs became burdened by increased redemptions and overpopulated high-status tiers (evidenced, for example, by the lines outside the doors of airport lounges). Some major travel brands have responded by adjusting loyalty program rules. They’ve ended the status extensions that were granted during the pandemic, and they’ve devalued points and miles—raising the bar to redeem them for free flights and rooms.

All these changes have, understandably, been made with an eye toward programs’ profit-and-loss statements. But collectively, they’ve resulted in widespread customer dissatisfaction. Program members have chafed at having their points devalued and benefits clawed back. Meanwhile, successful loyalty programs in other sectors have opened customers’ eyes to other types of value that these programs can provide, such as better customer experiences, richer communities, more tailored personalization, and exclusive access to events or offers.

Loyalty surveys conducted by McKinsey in 2021 4 The 2021 loyalty survey of roughly 10,000 American consumers covered multiple sectors (including airlines, hotels, cruise lines, banks, retail, grocery, and others). and 2023 5 The 2023 loyalty survey of 3,200 American travelers covered the airline, lodging, and cruise sectors. revealed a steep decline in the likelihood that a customer would recommend airline, hotel, and cruise line loyalty programs to a friend or colleague—even though the likelihood that customers would recommend the airline, hotel, and cruise line brands remained relatively steady (Exhibit 1).

A focus on a loyalty program’s bottom line can distract from its higher purpose

A travel loyalty program might be able—at least temporarily—to disappoint its members while inflicting minimal damage on its company’s earnings. This is because so much of a modern travel loyalty program’s importance comes from B2B sales of batched points or miles. The programs’ most relevant customers in terms of generating revenue are credit card companies, not individual travelers. And these B2B deals generally involve long-term contracts that guarantee sales years in advance. A travel brand can unilaterally issue more loyalty program points to sell to third parties at any time, as well as raise the redemption levels for flights or rooms if margins become undesirable.

Meanwhile, airline travelers have fewer options than they did in the past. Consolidation of major airline brands means it’s harder for frequent fliers to abandon one airline and its loyalty program for another without losing access to convenient flight routes or departure times. And customers who have already banked a large number of miles or points with one airline or hotel program can feel locked in.

For all these reasons, loyalty programs appear to be in a position of strength. But a narrowed emphasis on revenue and costs could lead to brands’ losing focus of the big picture. Travel loyalty programs were originally conceived as a clever way to influence customer behavior—and encourage customer loyalty. But it’s not clear if the programs are currently fulfilling either mandate as successfully as they could.

McKinsey research reveals that airline loyalty programs’ ability to change fliers’ behavior declined between 2017 and 2021, and again between 2021 and 2023 (Exhibit 2). During those time frames, it became less likely that a customer who was a member of a given airline loyalty program would report that they chose the associated airline over other options or increased the frequency of their spending with that airline. If this trend continues, it could eventually create a vicious cycle: airlines would cut loyalty program budgets if they deemed them ineffective at influencing customer behavior, lower budgets would lead to reduced program benefits, and less attractive benefits would result in customers perceiving program participation as having less value.

McKinsey research further shows that loyalty program members these days aren’t especially loyal (Exhibit 3). Hotel, cruise, and airline travelers are typically members of about three or four different loyalty programs within a given sector, our analysis finds. On a yearly basis, they consider traveling with about three different brands within that sector and ultimately transact with more than one of them. Travelers don’t even consolidate their spending with the brand they say they “prefer” within a sector: the median share of the customer’s wallet for preferred brands is only about 50 percent in lodging, 60 percent in cruise lines, and 60 percent in airlines—with the remainder of the customer’s spending spread around to other players within the same sector.

Evidence suggests this trend will persist. According to our 2023 survey on travel loyalty, younger generations are more likely to consider and transact with multiple travel players. Gen Zers and millennials consider about 1.7 times as many brands as do baby boomers and the Silent Generation and transact with about 1.3 times as many brands.

All this comes at a time when the travel loyalty market is becoming more competitive. Consumer banks, which were once content to offer cobranded credit cards featuring travel brands as the marquee partner, are now launching their own self-branded travel awards ecosystems and booking platforms. Travelers might wonder why they should put all their loyalty points in one basket with a single airline or hotel brand when a consumer bank might offer more flexible rewards redemption and possibly a better user experience. (It’s worth noting that our research suggests the likelihood that a customer would recommend some of the major consumer banks with travel loyalty initiatives to a friend or colleague is far higher than the likelihood that a customer would recommend a cruise line, lodging brand, or airline.)

How to reshape loyalty for a new travel landscape

Our research finds that experience —far more than tangible, “earn and burn” benefits—is what wins customers’ loyalty. Experiential factors, including “offering an experience worth paying more for” and “feeling taken care of,” have become more important over time and now account for three of the top five (out of more than 40) drivers of loyalty to cruise lines, hotels, and airlines. For hotels, experience has four times more impact than tangible benefits on purchase frequency, while for airlines, experience is more than twice as likely to influence frequency. Positive past experiences are the biggest factor in customers’ desire to travel more with a company in the future.

The following three steps could help travel brands adjust to this changing landscape and engender loyalty that goes beyond a mere quest for redemptions and perks.

Put experience at the core of loyalty programs

When our 2023 survey asked American respondents which company they’re most loyal to, Amazon received more votes than the top six travel players combined—despite the absence of any traditional, points-based loyalty program. How does Amazon win loyalty? By providing a frictionless experience.

How can travel brands learn from this and win customers’ love even when points and miles are worth less? By offering distinctive, satisfying experiences: making customers feel delighted is the key to their hearts, but McKinsey’s 2023 loyalty survey showed that only 20 percent of travelers were delighted by a recent travel experience.

Companies should strive to design loyalty programs around experiential benefits that make travelers feel special. This can be win–win, such as when Delta offered free in-flight Wi-Fi to loyalty members, which led to a better experience for the members while also boosting enrollment in Delta’s loyalty program. In retail, some programs bring together engaged communities of like-minded brand loyalists. Advance notice or exclusive access to offers can send loyalty members a signal that the brand considers them VIPs.

Brands should seamlessly integrate customer experiences between desktop, mobile, and physical locations—meaning that frontline workers have an important role to play. Proper execution of customer service is vital for getting experiences right, so companies should try to keep frontline workers top of mind. Workers should be given the proper training and tools to satisfy customers, and the effectiveness of this training should be measured.

When it comes to mitigating, or avoiding, a negative customer experience, saying “sorry” can go a very long way. Companies should proactively engage customers after service shortfalls, as a service challenge can actually lead to an increase in customer satisfaction if handled well. The form an apology takes might be made commensurate with a customer’s status level in the brand’s loyalty program, and any recompense can be informed by a predictive analysis of its impact —considering factors such as the magnitude of the lapse and the nature of the customer’s other recent interactions with the brand.

(Finally) use data to offer personalization to members

Travel brands have long had access to reams of customer data. Loyalty program members surf on travel companies’ Wi-Fi, sleep in their hotel rooms, fly on their planes, and cruise on their ships. But many travel brands haven’t yet captured the opportunity to use these unique data to offer their members personalization on par with other industries. Likewise, although airlines and hotels have incredibly sophisticated, lightning fast, AI-enabled pricing algorithms, they aren’t consistently harnessing their technology capabilities to power real-time customer personalization.

Nontransactional engagement opportunities, such as the daily interactions fostered by social communities, offer rich troves of data that can be used to hone personalization. In turn, personalization can drive engagement, as seen in Sephora’s Pocket Contour Class initiative, which lets users upload a selfie to get personalized makeup tips.

Personalization can be employed to tailor both experiences and offers for loyalty members. Our research has shown that 78 percent of consumers are more likely to make a repeat purchase when offered a personalized experience . The goal should be to achieve a hypersegmentation of program members that’s so nuanced, it results in a “ segment of one .”

Rethink partnerships to protect self-interests while delivering customer value

Since the 1980s, travel companies have been partnering with banks to launch cobranded credit cards. But several credit card brands now offer their own, self-branded travel rewards ecosystems. These ecosystems sometimes direct bookings to airlines, hotels, and cruise lines—but they can also serve as a way for credit card brands to steal away travelers’ loyalties. These types of transactional partnerships with consumer banks might eventually cease to be a winning play for travel companies. In time, travel loyalty programs could be driven to seek alternate sources of funding.

The best kinds of partnerships build richer connections with consumers while boosting engagement through thoughtful collaborations. Uber’s partnership with Marriott gives users the option to link the brands’ loyalty programs, tapping into two large customer bases and providing more convenient travel experiences.

One promising recent example of collaboration is a travel media network. A hotel company might, for instance, launch a media network that allows third-party brands to place relevant, nonintrusive, personalized advertisements in the hotelier’s owned spaces—websites, hotel lobbies, guest room TVs, and so forth. This type of partnership can offer travelers an elegant, curated experience while providing the travel brand with an alternate monetization route.

In general, travel companies should cultivate collaborations that protect their interests, generate new revenue streams, add personalization and value for loyal customers, and diversify touchpoints with those customers. Early action could prove vital here, as the travel space will not accommodate infinite partner ecosystems.

As other industries raise the bar and consumers grow increasingly dissatisfied with travel loyalty programs as they are designed today, travel industry leaders may need to ask themselves some hard questions. How can points and miles be paired with experiences and excitement? Which partners are truly adding value? What is causing customers to stray, and how can their loyalties be won back?

Travel brands were loyalty innovators. But travel loyalty programs might soon hit an inflection point. Now is the time to innovate and win back customers’ allegiances.

Lidiya Chapple is an associate partner in McKinsey’s Atlanta office, where Jillian Tellez Holub is a partner; Clay Cowan is a partner in the Dallas office; and Ellen Scully is a consultant in the Seattle office.

The authors wish to thank Bella Alfaro, Alex Cosmas, Marilyne Crépeau, Oren Eizenman, Austin Hack, Ryan Mann, Jacob Miller, Afiya Romeo, Matthew Straus, and Jamie Wilkie for their contributions to this article.

This article was edited by Seth Stevenson, a senior editor in the New York office.

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MarketBeat

7 Travel Stocks That Still Have Room to Run

Posted: May 16, 2024 | Last updated: May 16, 2024

<p><span>There's good news and bad news for those interested in investing in travel stocks in 2024. A </span><a href="https://skift.com/2024/01/18/travel-outlook-2024-from-too-hot-to-just-right-skift-research/"><span>report from Skift Research</span></a><span> issued in January explains why the red-hot growth investors have come to expect is coming to an end. It seems that revenge travel may have ended as consumers, particularly in the low- and middle-income categories, pull back as inflation continues to wear on savings.</span> </p> <p><span>However, the good news is that normalization still means growth. Normalization means capacity growth and not just better pricing power for some industries, such as airlines and hotels.</span> </p> <p><span>This means it's a good time to consider which travel stocks may have room to run higher. Travel stocks cover a range of companies, from hotels to airlines to cruise ships to casinos to payment processors. We've got all of them covered and more in this special presentation that focuses on travel stocks that are likely to show growth in the next 12 months. </span> </p> <br> <br>

There's good news and bad news for those interested in investing in travel stocks in 2024. A report from Skift Research issued in January explains why the red-hot growth investors have come to expect is coming to an end. It seems that revenge travel may have ended as consumers, particularly in the low- and middle-income categories, pull back as inflation continues to wear on savings.  

However, the good news is that normalization still means growth. Normalization means capacity growth and not just better pricing power for some industries, such as airlines and hotels.  

This means it's a good time to consider which travel stocks may have room to run higher. Travel stocks cover a range of companies, from hotels to airlines to cruise ships to casinos to payment processors. We've got all of them covered and more in this special presentation that focuses on travel stocks that are likely to show growth in the next 12 months.  

stock chart graphic

#1 - Delta Air Lines (NYSE:DAL)

Delta Air Lines Inc. (NYSE: DAL) is one travel stock that can fit into any investor’s portfolio. By many accounts, Delta is simply the most well-run airline. The company took aggressive steps (and took on debt) to protect the bottom line in 2020. Those steps are paying off today as the company is seeing revenue and earnings return to 2019 levels. Delta is increasing free cash flow while purposefully paying down its debt. 

One attribute that Delta has that many investors overlook is multiple revenue streams. In addition to its legacy business, the airline generates about 10% of its revenue from cargo. It generates an added 10% of revenue from its service business, which includes servicing airlines of other carriers.  

And then there’s the company’s valuation. Delta trades at 7.99x forward earnings, and analysts have a consensus price target of $59.25, which offers an 11% upside. Plus, Delta reinstated its dividend in 2023 and will likely raise it in the coming quarters.  

<p><a href="https://www.marketbeat.com/stocks/NASDAQ/BKNG/"><strong>Booking Holdings Inc. (NASDAQ: BKNG)</strong></a> may not be the first name that comes to mind when you think about AI plays. But, the company has introduced some AI tools into its KAYAK travel search engine. The goal is to help travelers make decisions faster, easier, and more intuitively.  </p> <p>The effect of these AI tools may be hard to quantify. However, the reason that Booking Holdings is likely to outperform the market is much simpler. Travel demand may be slowing, but it hasn't abated. Consumers, at least once they get above a certain income threshold, are still prioritizing travel.  </p> <p>And if the <a href="https://www.marketbeat.com/originals/booking-stock-is-the-discounted-growth-story-in-travel-stocks/?utm_source=snapi">Federal Reserve lowers interest rates</a>, that will be a tailwind for BNKG stock in the second half of the year. One reason is that lower interest rates will likely spur hiring activity, which will boost consumer confidence. That combination is almost always bullish for travel plans.  </p> <p>Some investors will choke on the company's share price, which is over $3,400 as of March 5, 2024. However, the stock only trades at 19x earnings and is projecting 17x earnings growth in the next 12 months.  </p>

#2 - Booking Holdings (NASDAQ:BKNG)

At first glance, Booking Holdings Inc. (NASDAQ: BKNG) may not look like an ideal candidate for a travel stock with upside. As of this writing, BKNG stock trades at over $3700 per share and over 21x forward earnings. It’s an expensive stock. 

However, the company’s business model makes it a one-stop shop that helps travelers expedite their travel plans. Booking is adding AI capabilities into its platform for a more customized experience. And the company’s revenue and earnings continue to grow year-over-year, as does the company’s stock price, which is up more than 111% in the last five years.  

That makes a stock split a viable possibility . At the moment, trading volume suggests that a split wouldn’t be helpful. But if there’s any sign of buying fatigue, a split could be a way to ensure the stock continues to grow.  

<p>In 2023, the cruise industry was fully operating once more. However, volume was still below 2019 levels. According to industry experts, that will change in 2024 when passenger volume is expected to exceed 2019 levels. <a href="https://www.marketbeat.com/stocks/NYSE/VIK/"><strong>Viking Holdings Ltd. (NYSE: VIK)</strong></a> takes a distinct approach to cruising that may be attractive to both travelers and investors.  </p> <p>The company's business model targets and caters to affluent travelers. For one thing, no children are allowed on board, and the cruise ships don't have casinos. It's a quieter experience geared toward people seeking <a href="https://www.viking.com/">destination-focused journeys</a>.  </p> <p>Although the company has been operating since 1997, Viking only began life as a publicly traded company on May 1, 2024. There's not a lot of history for investors, but the company has a history of profitable operations. Viking will deliver its first earnings report in late May. If that confirms investors' expectations, look for analysts to get behind this stock in a big way.  </p>

#3 - Viking Holdings (NYSE:VIK)

In 2023, the cruise industry was fully operating once more. However, volume was still below 2019 levels. According to industry experts, that will change in 2024 when passenger volume is expected to exceed 2019 levels. Viking Holdings Ltd. (NYSE: VIK) takes a distinct approach to cruising that may be attractive to both travelers and investors.  

The company's business model targets and caters to affluent travelers. For one thing, no children are allowed on board, and the cruise ships don't have casinos. It's a quieter experience geared toward people seeking destination-focused journeys .  

Although the company has been operating since 1997, Viking only began life as a publicly traded company on May 1, 2024. There's not a lot of history for investors, but the company has a history of profitable operations. Viking will deliver its first earnings report in late May. If that confirms investors' expectations, look for analysts to get behind this stock in a big way.  

<p><a href="https://www.marketbeat.com/stocks/NASDAQ/MAR/"><strong>Marriott International, Inc. (NASDAQ: MAR)</strong></a> continues to defy expectations that the revenge travel phenomenon is over. The company <a href="https://news.marriott.com/news/2023/08/01/marriott-international-reports-second-quarter-2023-results-and-raises-full-year-outlook">reported earnings</a> in August and beat expectations on the top and bottom lines and raised its guidance for the rest of the year. </p> <p>But the stock is starting to look out over its skis. MAR stock is up 24% in the last 12 months and over 67% in the last five years. For investors to see continued growth, consumer spending will have to continue to defy expectations.  </p> <p>That may happen, but if you're a growth investor playing the percentages, that seems like a tricky bet. Marriott reinstated its dividend in 2022, so that may be enough to keep income investors interested. But for growth investors, this is a good time to check out and take your profits on MAR stock.  </p>

#4 - Marriott International (NASDAQ:MAR)

According to CBRE, RevPAR (revenue per available room) is supposed to increase by 3% in 2024 . This was after reaching a record high in 2023. Marriott International Inc. (NASDAQ: MAR) is a solid pick if you're looking for travel stocks in the hotel niche.  

The CBRE report cites international travel and increased convention traffic as key reasons for the expected increase in RevPAR. Marriott excels in both areas. As evidence, the company cited global RevPAR growth of 6% in the first quarter and said that RevPAR growth is consistent for all of its customer segments. 

With a forward P/E ratio of 24x, MAR stock isn't necessarily cheap. That's reflected in the fact that analysts have a consensus Hold rating on the stock. However, analysts' expectations for 14% earnings growth could support higher stock prices, particularly if interest rates come down.  

<p>Casinos are attractive travel destinations, and <a href="https://www.marketbeat.com/stocks/NASDAQ/CZR/"><strong>Caesar’s Entertainment Inc. (NASDAQ: CZR)</strong></a> is one of the top picks in the sector. Caesar’s, which is now owned by Eldorado Resorts, has 54 properties worldwide, making it the largest casino operator in the United States. The company’s portfolio includes eight properties on the Las Vegas Strip, which is always a popular destination.  </p> <p>In addition to the company’s physical casinos and sports books, it has a mobile app that allows for online sports betting, which is how over 90% of consumers place their bets.  </p> <p>That said, CZR stock has been a market laggard for some time. The stock is down over 25% in the last five years and 12.6% in the last 12 months. However, analysts are forecasting earnings growth of over 1,300% in the next 12 months. That’s why the <a href="https://www.marketbeat.com/stocks/NASDAQ/CZR/forecast/">Caesar’s Entertainment analyst ratings</a> on MarketBeat show a 55% upside for the stock. </p>

#5 - Caesar's Entertainment (NASDAQ:CZR)

Casinos are attractive travel destinations, and Caesar’s Entertainment Inc. (NASDAQ: CZR) is one of the top picks in the sector. Caesar’s, which is now owned by Eldorado Resorts, has 54 properties worldwide, making it the largest casino operator in the United States. The company’s portfolio includes eight properties on the Las Vegas Strip, which is always a popular destination.  

In addition to the company’s physical casinos and sports books, it has a mobile app that allows for online sports betting, which is how over 90% of consumers place their bets.  

That said, CZR stock has been a market laggard for some time. The stock is down over 25% in the last five years and 12.6% in the last 12 months. However, analysts are forecasting earnings growth of over 1,300% in the next 12 months. That’s why the Caesar’s Entertainment analyst ratings on MarketBeat show a 55% upside for the stock. 

<p><a href="https://www.marketbeat.com/stocks/NYSE/WGO/"><strong>Winnebago Industries Inc. (NYSE: WGO)</strong></a> is a case in which what goes up sharply can also go down sharply. Winnebago is one of the leading manufacturers of recreational vehicles (RVs). Demand for RVs surged during 2020 and 2021 as consumers looked for ways to travel with mitigation efforts in place.  </p> <p>However, RVs are a one-off purchase, and those mitigation efforts are now over. That means demand has normalized, and revenue and earnings are down year-over-year. And the company expressed in its most recent earnings presentation that demand will likely be lower in 2024.  </p> <p>That said, the company remains the market share leader in all its key categories. Those analysts are reasonably bullish on WGO stock, which is down 13% in 2024. Analysts give the stock a consensus price target of $71.80, which gives the stock a 14% upside. Plus, the company pays a dividend that has increased for the last five years and is beginning to look more attractive, with a 1.98% yield as of May 16, 2024.  </p>

#6 - Winnebago Industries (NYSE:WGO)

Winnebago Industries Inc. (NYSE: WGO) is a case in which what goes up sharply can also go down sharply. Winnebago is one of the leading manufacturers of recreational vehicles (RVs). Demand for RVs surged during 2020 and 2021 as consumers looked for ways to travel with mitigation efforts in place.  

However, RVs are a one-off purchase, and those mitigation efforts are now over. That means demand has normalized, and revenue and earnings are down year-over-year. And the company expressed in its most recent earnings presentation that demand will likely be lower in 2024.  

That said, the company remains the market share leader in all its key categories. Those analysts are reasonably bullish on WGO stock, which is down 13% in 2024. Analysts give the stock a consensus price target of $71.80, which gives the stock a 14% upside. Plus, the company pays a dividend that has increased for the last five years and is beginning to look more attractive, with a 1.98% yield as of May 16, 2024.  

<p><a href="https://www.marketbeat.com/stocks/NYSE/V/"><strong>Visa Inc. (NYSE: V)</strong></a> is also trending on WallStreetBets. The performance of the payment processor's stock has reflected the resilience of the consumer. V stock is up 30% in the last 12 months as the company continues to post year-over-year increases in revenue and earnings.  </p> <p><a href="https://www.marketbeat.com/stocks/NYSE/V/short-interest/">Visa short interest</a> is only around 2% of the stock's float, which is over 1.5 billion. But it is on the rise in 2024. And that also reflects the consumer. In 2023, credit card delinquencies (payments more than 30 days late) climbed above 7%, which put it above 2019 levels. However, <a href="https://www.cnn.com/2023/08/10/economy/credit-card-car-loan-pay-failure-pre-covid/index.html">Moody's says that rate is likely to peak between 9% and 10% in 2024</a>.  </p> <p>That's still below the delinquency rates from the 2007 financial crisis and subsequent Great Recession. But since Visa may have to set aside more for charge-offs, it’s enough to keep Visa stock in the crosshairs of short sellers.  </p>

#7 - Visa (NYSE:V)

The last company on this list of travel stocks to buy is Visa Inc. (NYSE: V) . It's not a travel stock per se, but data shows that consumers continue to fund their travel expenses with credit cards. And as one of the leading payment processors, Visa is a logical choice for inclusion on this list.  

But with a forward P/E ratio of around 28x, is Visa a good stock to own right now? The Visa analyst ratings on MarketBeat give the stock a Moderate Buy rating with a consensus price target of $303.76. That's only about an 8% upside. However, several analysts have raised their price targets since Visa last reported earnings, and several of those targets are far higher than the consensus.  

It's also worth noting that Visa pays a growing dividend . While the yield of 0.74% as of May 2024 isn't impressive, the dividend has been growing for 16 consecutive years and has a payout ratio of just 23%, which is very sustainable.  

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  3. The State of Online Travel Agencies

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  4. Insights to an Online Travel Booking and Revenue Model

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  5. Online Travel Market, Size, Share, Global Forecast 2022-2027

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  1. Online travel market statistics & facts

    With more consumers booking travel online the online travel market has seen major growth. For more information, read our topic page on the online travel market! ... Estimated EV/Revenue ratio in ...

  2. Online Travel Booking Service Market Size, Share Report, 2030

    The global online travel booking service market size was valued at USD 519.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.0% from 2022 to 2030. ... The transportation booking segment held the largest revenue share of over 50.0% in 2021. The rising online booking of flights, trains, and buses across the ...

  3. Travel App Revenue and Usage Statistics (2024)

    The travel app market generated $556 billion in revenue last year, a 53.4% increase on the previous year. Booking generated the most revenue out of all online travel agencies in 2022. Over 800 million people used a travel app in 2022. Expedia holds a slight lead in the US market, at 21.5% market share. Booking was the most downloaded travel app ...

  4. 50 Online Travel Booking Statistics (Latest 2024 Figures)

    Online sales will generate 76% of revenue in the travel & tourism sector by 2028. Among the many online travel agencies worldwide, Booking reported the highest revenue in 2021. Marketplace bookings experienced a dramatic increase from 3.2% in 2017 to 9.1% in 2018, while direct online bookings fell from 79.2% to 66.7%.

  5. Booking Revenue and Usage Statistics (2024)

    Booking is one of the oldest online travel agencies still active today, originally launched in 1996 by Geert-Jan Bruinsma as Bookings.nl, which was then merged with Booking.com at the tail end of the dotcom bubble in 2000. ... Booking Revenue. Booking Holdings' total revenues for the full year 2023 were $21.3 billion, an increase of 25.2% ...

  6. Online Travel Booking Industry Statistics • WorldMetrics

    In 2020, the direct total gross online travel booking value amounted to $330 billion globally. Online travel booking through mobile devices is set to reach 79.12% by 2025. Around 82% of travel bookings made in 2018 were completed via a website or mobile app. Digitally-influenced travel sales were estimated at $648 billion in 2020.

  7. 60+ online travel booking statistics & trends

    The mobile users' average online order value has grown by 29% since 2020. The mobile travel booking market is projected to grow at an anticipated value of $612.5 billion by 2031. In 2020, the gap between desktop and mobile booking sales was 75% compared to 2022 where the gap was reduced to 40%.

  8. Top online travel companies by market cap 2023

    As of that month, Booking Holdings - the leading online travel agency (OTA) worldwide by revenue - recorded a market cap of roughly 112.8 billion U.S. dollars. Airbnb and the Trip.com Group ...

  9. Global Online Travel Booking Market Report 2022: Use Online

    Top 10 Online Travel Booking Channels, incl. "OTA" and "Direct Booking", 2021 4.5. Australia Online Travel Bookings, in AUD million, And Year-on-Year Change, in %, 2018-2022f 4.6. Indonesia Online ...

  10. Online Travel Agency Factbook 2022

    The online booking industry has mostly maintained commission levels and gross bookings are returning. Therefore, OTA revenue is recovering faster than most other travel sectors. However, profitability has been deeply hurt and is much slower to recover. The 'big 3' OTAs - Trip.com Group, Booking Holdings, and Expedia Group - are steadily ...

  11. Online Travel Market Share, Size , Statistics & Facts by 2031

    CG : Travel & Luxury Travel. The global online travel market size was valued at $354.2 billion in 2020, and is estimated to reach $1,835.6 billion by 2031, registering a CAGR of 14.8% from 2022 to 2031. Online travel providers aim to ease travel planning and bookings for travelers. The online travel industry is being pushed by quick and easy ...

  12. Online Travel Booking Market: Personalization Key to Growth

    Online Travel Booking Market was valued at US$ 616.503 Bn. in 2023 and the total revenue is expected to grow at 9.7% of CAGR through 2024 to 2030, reaching nearly US$ 1178.641 Bn. Online Travel Booking Market Overview: A variety of booking services are offered by online travel agencies, including those for lodging, transportation, sightseeing, and car rentals.

  13. 70+ Stunning Online Travel Booking Statistics (2023 Figures)

    Booking was the top online travel agency in revenue in 2021. Online marketplace bookings rose from 3.2% in 2017 to 9.1% in 2018. Direct online bookings decreased from 79.2% to 66.7% during the ...

  14. Online Travel Booking Platform Market

    The global online travel booking platform market size is projected to grow from USD 531.2 billion in 2022 to USD 985.3 billion by 2027, at a compound annual growth rate (CAGR) of 9.8%. ... Online Travel Booking Platform Market. 7500+ companies worldwide approach us every year for their revenue growth initiatives. Global top 2000 strategist rely ...

  15. Global Airline Online Booking Market Report 2022: Air

    Mobile Share of Online Air Travel Gross Bookings, in %, 2021 & 2025f; 4.2. Japan. Online Air Travel Revenue, in USD billion, 2020 & 2021; 4.3. South Korea. Online Air Travel Revenue, in USD ...

  16. PDF Booking Holdings Reports Financial Results for 3rd Quarter 2023

    Booking Holdings Inc. (NASDAQ: BKNG) (the "Company," "we," "our," or "us") today reported its third quarter 2023 financial results: Gross travel bookings, which refers to the total dollar value, generally inclusive of taxes and fees, of all travel services booked by our customers, net of cancellations, were $39.8 billion, an increase of 24% ...

  17. 46+ Online Travel Booking Statistics, Facts, and Trends [2023]

    Roughly 41% of Americans prefer OTAs to book trips. Another 29% book directly, and an additional 29% rely on travel agents or tour operators.; In 2023, online sales channels are projected to contribute 69% of global travel and tourism market revenue. This percentage is forecasted to increase to 74% by 2027.; The travel segment of the app market generates $1.23B in global revenue.

  18. Booking Holdings closes 2021 with improved revenue, profit

    For the full year 2021, Booking Holdings' financial figures are also moving closer to full year 2019. Revenue for the full year was $11 billion, compared to $15.1 billion in 2019, and gross travel bookings were $76.6 billion, compared to $96.4 billion in 2019.

  19. Global Online Airline Booking Market 2022

    Online Air Travel Revenue, in USD billion, 2020 & 2021 Online Share of Total Air Travel Booking Revenue, in %, 2021 & 2025f Mobile Share of Online Air Travel Gross Bookings, in %, 2021 & 2025f 4.2. Japan Online Air Travel Revenue, in USD billion, 2020 & 2021 4.3. South Korea Online Air Travel Revenue, in USD billion, 2020 & 2021 4.5. India

  20. Online travel giants set new record for marketing spend in '23

    The two companies account for the majority of the spend among the four brands analyzed, with Expedia Group doling out $6.9 billion in 2023 for sales and marketing (which includes commissions paid to B2B partners) and Booking Holdings spending a bit less, $6.8 billion, for its marketing efforts. For Expedia Group, which reported full year 2023 revenue of $12.8 billion, that equates to 54% of ...

  21. Reinventing travel loyalty programs

    In 2019, United's MileagePlus loyalty program sold $3.8 billion worth of miles 2 to third parties, which accounted for 12 percent of the airline's total revenue for that year. In 2022, American Airlines' loyalty program brought in $3.1 billion in revenue, and Marriott's brought in $2.7 billion. 3 Many loyalty programs have evolved into ...

  22. MakeMyTrip ends FY2024 with record gross bookings & profit

    Despite Q4 being a seasonally slower period for leisure travel, MakeMyTrip saw robust growth across Gross Bookings, Revenue, and Profit. The company achieved record financial results, highlighting the strong recovery and increased travel demand post-pandemic. Furthermore, the Adjusted Operating Profit (EBIT) surged to USD 32.4 million in Q4 FY24 and USD 124.2 million for FY24, up from USD 70.3 ...

  23. AI-Powered Travel Updates Will Make Translation Easier

    Today's podcast looks at AI-powered travel tools, airlines suing to protect junk fees, and Booking's European challenge. Good morning from Skift. It's Tuesday, May 14. Here's what you need to ...

  24. Chase Travel Has What the Other Cards and Online Travel Agencies Don't

    Online travel agencies and credit card companies — other than Chase — have Southwest-envy. Not having Southwest flights is a major hole in their travel offerings. Chase cardholders can book ...

  25. State supreme court reverses $34M ruling against travel ...

    The state Supreme Court decision reversed a ruling from Jefferson County Circuit Court Judge Robert Wyatt, who ruled in favor of cities, counties and advertising and promotion commissions in 2022 ...

  26. Travel searches for Switzerland on eDreams multiply by six after

    Swiss rapper Nemo's victory at the Eurovision Song Contest has boosted searches for travel to Switzerland next year by nearly six times, Spanish online travel booking company eDreams said on ...

  27. 7 Travel Stocks That Still Have Room to Run

    Delta Air Lines Inc. (NYSE: DAL) is one travel stock that can fit into any investor's portfolio. By many accounts, Delta is simply the most well-run airline. The company took aggressive steps ...

  28. Myrtle Beach SC ranks No. 1 in US for summer travel spot

    Myrtle Beach is the top trending destination for Memorial Day weekend in the U.S., according to Booking.com. The travel site said that searches for the South Carolina city are up 15% by those ...