📊 Topic

Merchant model

3 stories · First covered Feb 25, 2026 · Latest Apr 29
Related: Booking Holdings 3 Connected Trip 3 Revenue Management 2 Generative AI 2 Loyalty Programs 1 Agency model 1 BTIG 1 Morgan Stanley 1 Bank of America 1 Piper Sandler 1 OpenTable 1 Glenn Fogel 1
OTA commission structure
Merchant model Coverage
Booking Holdings Reports Today. Here's What Hotel Owners Should Already Know.
Operations Primary
Apr 29

Booking Holdings Reports Today. Here's What Hotel Owners Should Already Know.

Wall Street expects $5.52 billion in Q1 revenue from Booking Holdings, up 16% year-over-year, fueled by a merchant model that now controls 61% of total revenue. The question for hotel owners isn't whether the quarter beats estimates... it's how much of your margin moved to their balance sheet.

JC
Jordan Chen 2 min read · Apr 29
Booking's CEO Sold $2.9M in Stock. That's Not the Story.
Operations
Apr 6

Booking's CEO Sold $2.9M in Stock. That's Not the Story.

Glenn Fogel's routine share sale grabbed a headline, but the $700 million Booking is pouring into AI and its "Connected Trip" strategy in 2026 is what should keep every hotel operator up tonight thinking about who owns their guest relationship.

MS
Mike Storm 2 min read · Apr 6
Booking Holdings' $700M AI Bet Is Repricing the Stock. Here's What the Market Is Actually Telling You.
Transactions
Feb 25

Booking Holdings' $700M AI Bet Is Repricing the Stock. Here's What the Market Is Actually Telling You.

BTIG reiterates a $6,250 price target while the stock sits near a 52-week low at $3,864. The gap between analyst conviction and market behavior is the real story.

JC
Jordan Chen 2 min read · Feb 25