Booking.com parent smashes pre-pandemic figures in Q4 and full year trading
Booking Holdings chief proud of performance as OTA makes record revenues
Booking Holdings generated $17 billion in revenue in 2022 as profits soared to more than $3 billion year-on-year.
The owner of Booking.com had gross travel bookings of $121.3 billion for 2022, an increase of 58% from the previous year.
Total revenues for 2022 were $17.1 billion – the company’s highest-ever level and 13% higher than pre-pandemic 2019.
Net income for the full year 2022 was $3.1 billion, an increase of 162% from the prior year. Adjusted EBITDA for the full year 2022 was $5.3 billion, an increase of 82% from the prior year.
Fourth-quarter gross travel bookings reached $27.3 billion, up 44% from the same quarter in 2021, while room nights booked in the last three months of 2022 increased 39% from the same period in 2021.
Booking Holdings’ total revenues for the last quarter of 2022 were $4 billion – an increase of 36% from the fourth quarter of 2021.
Net income for the fourth quarter of 2022 was $1.2 billion, an increase of 100% from the prior-year quarter. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the fourth quarter was $1.2 billion, up 32% from the same period in 2021.
Glenn Fogel, chief executive officer of Booking Holdings, said: “Looking back at the full year of 2022, I am proud of our company’s performance during what was a challenging and competitive environment.
“We generated our highest-ever level of revenue of $17 billion in the year, which increased 56% versus 2021 and was 13% higher than in 2019.
“We are encouraged by the continued strength and resiliency of demand from travellers last year and into the new year, which we believe speaks to our consumers’ strong desire to use our platforms when booking their travel.”