April 14, 2024

CPS

Travel Adventure

Booking Holdings (BKNG) Shares Fall as Travel Reservation Forecast Disappoints

1 min read

Booking Holdings Inc. suffered its worst stock decline since the early days of the pandemic after giving a disappointing forecast for travel reservations and gross bookings, with the war in Israel and currency fluctuations weighing on results.

The growth of room nights booked — a closely watched measure for the company — will be 4% to 6% in the first quarter, Booking said on a conference call following its earnings report Thursday. For the full year, the company expects gross bookings to increase “slightly faster than 7%” as it accounts for the negative impact from exchange rates and the war. That compares with an average analyst estimate of 9.9%.

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