Abraham Yousef · May 2024
Booking.com Q1 2024 Mobile App Trends and Earnings Results
Booking.com's 1Q24 earnings showed growth in revenue and reported nights, largely in line with Sensor Tower estimates. This growth was primarily influenced by demand shifting to March due to Easter. Improvements in user and supplier experience have also increased engagement, with more trips booked per traveler and a higher percentage of room nights booked directly.
Key Takeaways:
Booking's reported 1Q24 revenue increased 17% YoY, directionally inline with 14% YoY growth in ST MAUs for the Booking app
Demand was driven by the pull forward of Easter demand into March, an increase in the average number of trips booked per traveler and growth in room nights booked directly, likely lifted by a greater return on paid marketing in the quarter
Reported room nights booked rose 8% YoY in 1Q24, but jumped 29% QoQ, supporting the view that users used this quieter travel period, post the holidays, to make future plans
Per Sensor Tower’s proprietary multi-device panel, users engaging with Booking.com via desktop (web) in the US increased 64 bps between Dec’23-Jan’24, compared to a decline of 11 bps for the Booking mobile app through that same period. This divergence in trends may have been driven by more consumers planning for travel via their home computers (or desktop devices) during the busy winter holiday season in lieu of their mobile devices
Further supporting this seasonal booking shift, Booking’s mobile app engagement improved in the quarter, with session count and average time spent rising 1.4% and 6% QoQ, respectively, in 1Q24, likely due to consumers using the quarter to plan spring and summer travel
For more information, request the full report from reports@sensortower.com.
