Booking Holdings said global room nights in 2024 increased 9% year-over-year. Total revenues increased approximately 11%, and on a constant-currency basis excluding the impact of foreign currency exchange rate changes, total revenues increased approximately 12% year-over-year.

1. 01

   Booking Holdings said global room nights in 2024 increased 9% year-over-year. Total revenues increased approximately 11%, and on a constant-currency basis excluding the impact of foreign currency exchange rate changes, total revenues increased approximately 12% year-over-year.

2. 02

   The company said total marketing expenses in 2024 were $7.3 billion, up 7% versus 2023. The mix of total gross bookings generated on a merchant basis increased from 54% in 2023 to 63% in 2024.

3. 03

   Booking Holdings said it announced the Transformation Program in November 2024 and expects annual run rate savings of approximately $400 million to $450 million over the next 3 years compared to its 2024 expense base. The company estimated that restructuring costs and accelerated investments related to the Transformation Program will increase over the next 2 to 3 years and are estimated to be, in the aggregate, approximately 1 times the expected annual run rate savings.

4. 04

   The company said operating cash flow in 2024 consisted of net income of $5.9 billion, adjustments for non-cash and other items of $2.1 billion, and changes in working capital of $367 million. In financing activities, it repurchased shares for $6.5 billion, paid dividends of $1.2 billion, and issued long-term debt of $4.8 billion.

Key figures

Fiscal year ended December 31, 2024

Revenue

$23.7B

Operating income

$7.6B

EPS

$172.69

Operating cash flow

$8.3B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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