The number of overnight stays sold to customers via Booking’s platforms grew by more than 7 percent to 287 million. This resulted in a turnover of 5.9 billion dollars. This is also 7 percent more than the previous year.
Net profit rose 18 percent to $1.5 billion, with CEO Glenn Fogel saying the company exceeded its own expectations.
Booking Holdings makes money from commissions and advertising revenue. The company also owns the airline travel search engine Kayak and the restaurant app OpenTable.
On Tuesday it was announced that Booking.com had been fined €413 million by Spain’s competition watchdog. Earlier this year, regulator CNMC announced it was facing a fine of hundreds of millions for abusing its market dominance. Booking.com is said to be planning to appeal.
