The impact of COVID-19 on Booking Holdings - Coronavirus (COVID-19) Case Study
Summary Recent months have been unprecedented in the tourism sector.Travel restrictions, flight suspensions, falling consumer confidence and a slew of negative press are just some of the issues booking platforms are having to contend with.
As one of the world’s leading online travel agents, Booking Holdings has been severely impacted.
Key Highlights - The various travel restrictions and lockdowns implemented across the world since the beginning of the COVID-19 pandemic have had an impact on all travel intermediaries.
- First of the industry to announce its quarterly results, Booking Holdings suffered from a 43% YOY decrease in the number of properties booked in Q1, leading to a significant loss in revenues, with projections for Q2 2020 looking gloomy.
- The pandemic has also had a serious impact on hotels, which are at the core of the OTA’s offering. The lack of guests could lead to a large number of closures, which might force travel intermediaries, and more particularly Booking Holdings, to rethink their relationships with hotels.
Scope - This case study looks at how the COVID-19 pandemic is impacting Booking Holdings and assesses the company’s response.
Reasons to Buy - Gain an overview of the current global COVID-19 situation
- Understand the impact that COVID-19 is having on the airline industry
- Assess the impact on Booking Holdings
- Understand what the future may hold for the company
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