BKNG · Earnings call · 2026Q3T · Full report

Revenue Performance and Mix

Booking Holdings Inc. · 2026-11-03 · Importance 43 · Surprise 32

Third-quarter total gross bookings increased 10% year over year, or approximately 11% on a constant-currency basis, while adjusted revenue rose 9%, or approximately 10% constant currency. Room nights grew 7%, accelerating from 5% in Q2; flight tickets increased 19%, attraction tickets rose 24%, and Connected Trip transactions grew almost 20%, reaching a low-double-digit share of Booking.com transactions. Alternative accommodations accounted for approximately 37% of Booking.com room nights, up about 1 percentage point from Q3 2025, and grew 7%; merchant gross bookings were approximately 75% of total gross bookings, up about 3 percentage points year over year. Adjusted revenue as a percentage of gross bookings declined about 15 basis points, reflecting flight mix and booking-versus-travel timing, partly offset by higher payments revenue.

Key facts

• Flight tickets increased 19% year over year in the third quarter, accelerating from the second quarter, despite pressure from elevated ticket prices and reduced capacity on certain routes.
• Attraction tickets grew 24% year over year in the third quarter, accelerating from the second quarter.
• Third-quarter room nights, gross bookings, adjusted revenue and adjusted EBITDA all exceeded the high end of Booking Holdings' guidance.
• Merchant gross bookings represented approximately 75% of total gross bookings, up about 3 percentage points year over year.
• Third-quarter total gross bookings increased 10% year over year, or approximately 11% on a constant-currency basis.
• Third-quarter adjusted revenue increased 9% year over year, or approximately 10% on a constant-currency basis; adjusted revenue as a percentage of gross bookings declined about 15 basis points.