Booking Just Grew 1 Part of Its Business by 67%, and It Could Usher In AI Travel Innovation
As the dot-com bubble in the stock market was inflating, famous actor William Shatner put travel booking website Priceline.com on the map with a series of popular commercials. Priceline has since changed its name to Booking Holdings (NASDAQ: BKNG), and it's performed marvelously for shareholders over the last 20 years, up more than 11,000%.
With references to the dot-com bubble and 20-year historical returns, you may feel Booking Holdings is past its prime. However, there is an important transformation happening at the company that could pave the way for a major innovation fueled by artificial intelligence (AI).
Travelers can book trips directly with travel service providers like hotels and airlines. However, it often makes a lot of sense to go to a centralized party like Booking to compare various options. When travelers make a reservation on its platform, Booking generates revenue. In fact, most of the company's revenue comes from travel reservations.
Source Fool.com
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