The following is a summary of the Booking Holdings Inc. (BKNG) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Booking Holdings reported a Q1 revenue growth of 17% year-over-year to $4.4 billion.

• Room nights on their platform grew at 9% year-over-year, recording nearly 300 million bookings.

• There was a considerable increase in adjusted EBITDA and adjusted earnings per share by 53% and 76% year-over-year respectively, indicating improved profit levels.

Business Progress:

• The company noted a rise in repeat travellers and average trips booked per traveller, with an increase in bookings made directly through the company.

• The company recorded growth from rental cars and attractions bookings, which indicates higher engagement with their app.

• The focus remains on enhancing and expanding offerings to travellers and supplier partners to foster increased loyalty.

• High single-digit growth was reported in Europe, mid-teens growth in Asia, and low single-digit growth in the U.S for Q1 2024. These figures surpassed the company's expectations, specifically in Europe.

• The company aims to boost its presence in the U.S, especially within the alternative accommodations market segment, and plans to continue the expansion of its 'Genius' loyalty program.

• Investment strategies involve significant capital investments, data quality, and strategic expansion in multiple verticals to provide traditional and alternative accommodations on a single platform.

More details: Booking Holdings IR

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