They can trade Booking shares as Gold, 5 293 USD for 1 share. 💰😀
Booking (BKNG) has undertaken an impressive journey, showcasing key factors behind its success:
👉 Focus on Software Development: BKNG’s strength lies in its software development focus, supported by a substantial number of employees
👉 Accommodation-Centric Approach: BKNG maintains a hawk-eye focus on accommodation, supplemented by ownership of various independently operated entities. Additionally, BKNG outsources certain operations to other affiliated companies
👉 Year-Round Strategy: With a balanced marketing approach and a neutral homepage, BKNG aims to attract both leisure and non-leisure customers effectively
👉 B2C and B2B Emphasis: BKNG predominantly serves as a B2C platform but also delves into B2B services. This diversification gives BKNG an edge over pure B2B competitors like Bedbanks, allowing for greater control over the supply chain
👉 Direct Accommodation Contracts: BKNG’s direct contracts with accommodations extend beyond leisure destinations, catering to diverse traveler needs such as family, friends, and business trips
👉 Bright Marketing: BKNG sponsors WNBA and NBA. They also sponsored the World Cup in soccer last year. Also, Major League Baseball, etc. Expedia (EXPE) is the only OTA competitor that could afford such marketing
👉 Sophisticated review engine: Present the most relevant reviews. During your stay at the hotel, you get push-notices about your stay. Not as Trustpilot, which doesn’t have that capability. The reviews are often negative, and the reviews have shifting standards
👉 BKNG Genius loyalty program: The customer is logged in, so the AI will be better aligned and personalized to different customers’ needs
👉 Customer service 24/7
In a conversation with a friend who owns a small hotel in rural Sweden, he highlighted the significance of connecting exclusively with BKNG and EXPE due to the limited bookings from other providers. This preference underscores the competitive advantage BKNG holds through network synergies, making it challenging for competitors to enter the market successfully
BKNG’s two-decade effort to expand its accommodation listings, coupled with substantial investments in technology, staff, organization, and operational processes, solidifies its market dominance. The « waterbed effect » further enhances BKNG’s position by influencing pricing dynamics across different channels. BKNG wants to create connected trips, and they are well under way. It is called « fence the garden ». It would save BKNG marketing costs. Give the revenues to the investors and customers instead of Google
Looking ahead, BKNG is well-positioned for continued growth by capturing market share from competitors and leveraging partnerships like Etraveli for flight services. The potential to enhance customer loyalty through innovative travel offerings and revenue-sharing models sets BKNG on a trajectory for sustained success
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