BKNG · 8-K · 20260804PR000036

Distribution Channels

Booking Holdings Inc. · 2026-08-04 · Importance 10 · Surprise 6

Booking Holdings’ direct channel accounted for a mid-fifties percentage of total room nights booked over the trailing four quarters. The mix was similar to the prior year, indicating that direct booking penetration was stable rather than materially expanding. Marketing expense represented 4.7% of gross bookings, compared with 4.6% in the second quarter of 2025. The company operates multiple consumer platforms, including Booking.com, Priceline, Agoda, KAYAK, and OpenTable, but the release does not quantify channel-specific performance beyond the direct-room-night mix.

Key facts

• Over the trailing four quarters, the mix of total room nights booked through the direct channel was a mid-fifties percentage, similar to last year. source