Booking Holdings remains the travel machine! AI could be more of an opportunity than a threat for the market leader!

Booking Holdings (i)(BKNG) owns one of the most powerful travel ecosystems in the world with Booking.com, Priceline, Agoda, KAYAK, and OpenTable. The company primarily earns money through commissions on hotel, flight, and car rental bookings. In the merchant model, Booking also processes payments. In addition, there are revenues from advertising, insurance, and restaurant services. However, the biggest concern now is agentic AI. If users in the future simply ask Meta Muse or other assistants, "Book me a week in Mallorca," the traditional search...