Booking Holdings faces risks from legal proceedings, including competition investigations (e.g., fines, business restrictions in Spain), tax audits (potential assessments in Italy), and pension-related litigation (retroactive pension contributions). Digital services taxes in various jurisdictions and potential unfavorable regulatory actions (e.g., EU's DMA/DSA) also pose risks. Fluctuations in foreign currency exchange rates impact financial results. Investment in private entities carries valuation uncertainties and potential impairment. Changes in market conditions (interest rates, equity prices) could affect debt valuations.
Financial Upside
Booking Holdings anticipates continued growth in room nights (6-8% YoY), gross bookings (7-9% YoY), and revenues (7-9% YoY) in Q4 2024. Operating income is expected to be higher than Q4 2023, excluding certain accruals. For 2024, gross bookings are projected to grow by 8%, revenues by just below 10%, and operating income to exceed 2023 levels. Increased mobile app bookings and a shift to merchant transactions are positive trends.
