Booking Holdings Sees Short-Term Hit to Profit Margins From Connected Trip Strategy
Skift Take
With the recent launch of flights for its U.S. point of sale, and development of a payments platform, Booking.com continues to work on CEO Glenn Fogel's signature connected trip strategy. It's probably tough to learn too much so far about flights when hardly anyone is flying, but the initiative looks to be proceeding apace under the covers.
Booking Holdings is sticking with its connected trip strategy despite the pandemic, with chief financial officer David Goulden acknowledging that the company's industry-leading margins could be compromised somewhat because of that push in the short-term.
In 2019, Booking Holdings recording EBITDA margins of 38.6 percent.
For the connected trip strategy, Booking.com wants to facilitate the entire trip, whether it is a flight and accommodation with ground transportation tacked on or a tour and dining reservation, and to be able to deliver it all via the most convenient, local payment method.
"We expect to have industry-leading margins in the long term," Goulden said."Between now and when we get back to full recovery, th
