February Week 2: Top online travel agencies.

Based on the data from Cloudbeds' compiled from thousands of customer properties between 2021 (which served as the benchmark in their previous report) and 2023, there has been a remarkable rebound for Online Travel Agencies (OTAs). While stalwarts like Booking.com, Expedia, and Airbnb continue to lead in revenue generation, the ascent of China's Trip.com by two spots indicates the resurgence of Asian traveler's in the market. Here's a look at the top revenue-generating OTAs for the year 2023, based on their analysis.

Highest revenue-generating OTAs

Booking.com:

Booking.com stands tall as a global travel powerhouse, with over 1.5 million nightly bookings, showcasing its unparalleled influence in the digital realm. Operating in 43 languages, it offers access to 50 million guest reviews across 200+ countries, ensuring transparency and diversity.

As part of Booking Holdings, the conglomerate includes Priceline.com, KAYAK, Agoda, Rentalcars.com, OpenTable, and more, each contributing to a seamless travel experience. From accommodations to car rentals and dining reservations, Booking.com's comprehensive suite of services reshapes the way the world travels.

Booking.com's revenue for the twelve months ending September 30, 2023 was $20.630B, a 28.76% increase year-over-year. Booking Holdings annual revenue for 2022 was $17.09B, a 55.96% increase from 2021.

Expedia:

Expedia, the premier brand of Expedia Group, spearheads a network of 200 travel booking websites, encompassing renowned platforms like Hotwire, Orbitz, Trivago, and Travelocity. Operating in 75 countries across 35 languages, it garners over 600 million monthly visits. The platform offers comprehensive searches for accommodations, flights, car rentals, cruises, and vacation packages.

Upon activation of the Expedia connection, properties gain access to a wide array of channels, including Hotels.com, Wotif, and numerous others, thereby amplifying their visibility and reach across the global travel landscape.

Expedia Group has a market cap or net worth of $20.53 billion as of January 23, 2024. Its market cap has increased by 27.65% in one year.

Airbnb:

Airbnb has become synonymous with offering one-of-a-kind accommodations worldwide, often located in neighbourhoods away from typical hotel hubs. While the company has expanded its offerings to include hotel rooms following its acquisition of HotelTonight, renowned for its last-minute booking services, Airbnb's community still seeks an experience that's anything but ordinary. They crave accommodations that are uniquely tailored to the local atmosphere and culture, rather than the standard cookie-cutter options found elsewhere.

Airbnb has a market cap or net worth of $97.67 billion as of February 8, 2024. Its market cap has increased by 36.84% in one year.

Hostelworld:

HostelWorld stands out as a premier online travel agency specialising in hostel accommodations worldwide, boasting a vast repository of over 12 million guest reviews. Beyond hostels, their inventory extends to encompass hotels, bed and breakfasts, and various budget-friendly lodging options.

With a commitment to fostering social connections among travellers, Hostelworld positions itself as a leader in social travel through its user-friendly online booking platform and mobile app. Catering to the needs of guests seeking meaningful interactions as they explore the globe, Hostelworld facilitates connections with fellow adventurers. Their website and app are available in 20 different languages, ensuring accessibility to travellers from diverse linguistic backgrounds.

Hostelworld's revenue surged by 32% in 2023, reaching 93.7 million euros ($102.4 million). Net gross transaction value of bookings rose to EUR619 million, with net bookings up by 37% across regions. However, the net average booking value decreased by 4% to EUR14.36 due to a greater proportion of Asian destination bookings, partially offset by bed price inflation.

Agoda:

Established in 1998, Agoda entered the global travel arena and was subsequently acquired by the Priceline Group, now known as Booking Holdings, in 2007. With its website accessible in 38 languages, Agoda boasts a comprehensive listing of diverse property types. While prominently positioned as a premier online travel booking platform in the Asian market, Agoda is now strategically expanding its footprint into key markets including the US, India, and Europe.

In 2023, Agoda's net worth stood at 225 million, surging to 250 million in 2024.

Trip.com

Trip.com stands as the foremost provider of travel services in China, offering a comprehensive range of reservations for accommodation, transportation, tours, and corporate travel. Established in 1999, the company has expanded its reach by owning and operating several other online travel agencies and aggregators, such as Skyscanner, Qunar, and Ctrip, solidifying its position as a dominant force in the industry.

Trip.com Group has a market cap or net worth of $26.06 billion as of February 6, 2024.

Hotelbeds:

Connecting with Hotelbeds unlocks unparalleled exposure to the travel industry's largest network of B2B buyers, boasting over 71,000 tour operators, travel agents, airlines, and loyalty programs. This expansive reach is particularly advantageous for businesses catering to corporate travel needs.

Hotelbeds group has a market cap or net worth of$1.2 billion.

Vrbo:

Vrbo presents a treasure trove of over 2 million vacation rentals, tailored to suit diverse preferences and requirements. From charming, secluded cabins perfect for romantic escapes to sprawling, well-appointed villas ideal for large family gatherings or group retreats, Vrbo ensures there's something for everyone.

In 2023, Vrbo's net worth amounted to 284 million, marking an increase to 316 million by 2024.

Traveloka:

Hailing from Indonesia, Traveloka emerges as one of Asia's premier online travel agents, featuring hundreds of thousands of properties across Southeast Asia, Australia, and beyond. Additionally, the platform offers an array of lifestyle products and services, from attraction tickets to car rentals and restaurant vouchers, catering to every aspect of the traveler's journey.

Conclusion:

In conclusion, the landscape of Online Travel Agencies (OTAs) has witnessed a robust resurgence, marked by notable shifts and expansions within the industry. The data compiled by Cloudbeds from thousands of customer properties between 2021 and 2023 illustrates a remarkable rebound for OTAs, with stalwarts like Booking.com, Expedia, and Airbnb continuing to lead in revenue generation.

Booking.com's comprehensive suite of services, coupled with its global influence and exponential revenue growth, reaffirms its status as a dominant force in the digital travel realm. Expedia, with its extensive network and market cap growth, remains a premier choice for travellers seeking diverse travel options. Airbnb, synonymous with unique accommodations and authentic experiences, has seen substantial market cap growth, reflecting the enduring appeal of its community-driven approach.

The ascent of Trip.com underscores the resurgence of Asian travellers in the market, highlighting the importance of catering to diverse global audiences. Meanwhile, platforms like Hostelworld, Agoda, and Traveloka cater to specific niches and regions, further diversifying the OTA landscape.

As the travel industry continues to evolve, OTAs will play an increasingly pivotal role in shaping the way the world travels. With ongoing expansions, strategic acquisitions, and a focus on enhancing user experiences, OTAs are poised to meet the evolving needs and preferences of travellers worldwide.