Booking Holdings Bets on GenAI to Transform Travel Experience, Boosts Earnings
February 21, 2025
Innovative features like the Smart Filter tool allow users to describe their ideal accommodation, which GenAI then matches with Booking.com's extensive inventory.
Fogel noted that AI agents will connect various travel elements into a unified platform, significantly improving operational efficiency, particularly in customer service.
Booking.com is currently testing GenAI-generated reviews to summarize customer feedback, aiming to further enhance the user experience.
Booking Holdings is prioritizing generative artificial intelligence (GenAI) as a cornerstone of its long-term growth strategy in the travel sector, as highlighted by CEO Glenn Fogel.
The Genius loyalty program has shown promising results, with 30% of travelers achieving higher tiers that reflect increased booking frequency and rates.
The new Property Q&A feature offers customers detailed information about properties, such as pet policies and EV charging options, enriching the booking experience.
During the company's fourth-quarter earnings call on February 20, 2025, Fogel expressed enthusiasm for GenAI's potential to revolutionize travel experiences.
In the fourth quarter, Booking Holdings reported a 13% increase in room nights and a 17% rise in gross bookings, totaling $37.2 billion, with revenue growing 14% to $5.5 billion.
For the full year, the company saw a 9% rise in room nights and a 10% increase in gross bookings, leading to a total revenue of $23.7 billion, indicating robust performance in the travel market.
A recent PYMNTS Intelligence report revealed that 52% of customers anticipate AI's role in enhancing interactions within the travel industry, while 44% believe it will improve guest engagement.
Fogel conveyed confidence that the integration of new technologies, including AI, will provide unique value to customers, thereby enhancing loyalty benefits and customer service.
GenAI is expected to facilitate personalized travel planning, creating seamless journeys for travelers.
Summary based on 1 source
Get a daily email with more AI stories
Source

PYMNTS.com • Feb 21, 2025
Booking Holdings Leans Into GenAI to Ramp Up Travel Experiences | PYMNTS.com