Tuesday, June 27, 2023
Short-Term Rental Report

Booking’s Big Marketing Bucks

  • Booking Holdings spent approximately $6 billion on marketing in 2022, which accounted for about 35% of its total revenue, while Expedia Group’s marketing spend was around 47% of its revenue.
  • Airbnb stands out among online travel agencies, with about 90% of its customers coming directly to its website or app, resulting in a modest 18% of revenue spent on marketing in 2022.
  • The city of Ottawa has hired consultancy firm Place Dynamics to ensure proper regulation and taxation of short-term rentals downtown, using a grant of $75,000 received from the Research in Illinois to Spur Economic Recovery (RISE) Program.

Only on Skift: What’s a key part of Booking Holdings‘ strategy to attract hotel and short-term rental guests? The company, which owns brands including Booking.com, Kayak and Priceline, spent around $6 billion on marketing in 2022 — and that was about 35% of its total revenue. A BTIG investor report published last week stated that […]