旅游股票市场表现 - 消费者对旅行的需求持续增长[1],[2] 联邦储备委员会降息预测 - 预计联邦储备委员会将在六月降息，但仍存在不确定性[3] Booking Holdings (BKNG) 股票投资潜力 - Booking Holdings (BKNG) 股票被认为是被低估的旅游股票，具有投资潜力[4],[5],[6]

In a recent column, I wrote: “Young people often are early adopters of products and companies that end up being wildly successful.” I noted that Apple (NASDAQ:AAPL) and Tesla (NASDAQ:TSLA), which were both extraordinarily popular with young consumers in their heydays, wound up growing tremendously. Consequently, I think it’s quite noteworthy that, according to Goldman Sachs, “when compared to their predecessors, Millennial and Gen Z consumers are more likely to value experiences over physical possessions. ” ...

SAN FRANCISCO, March 13, 2024 /PRNewswire/ -- Peerspace today announced a new partnership with Booking.com to help event organizers bring their visions to life. Any event organizer who books a venue on Peerspace, plus all of their confirmed attendees, will now receive an exclusive discount on hotels and rental cars on Booking.com. "Peerspace already offers some of the most unique venues in the world, and now through our partnership with Booking.com, we're excited to make another aspect of the event planning ...

Booking Holdings (BKNG) closed the latest trading day at $3,485.70, indicating a +0.23% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.65%. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, lost 1.16%.The online booking service's stock has dropped by 9.44% in the past month, falling short of the Retail-Wholesale sector's gain of 3.99% and the S&P 500's gain of 3.4%.Analysts and investors alike will be keeping a close eye on the performance of Bookin ...

Booking Holdings Inc. (BKNG) is gaining from strong customer momentum on the back of expanding partnerships and robust travel booking offerings, which remain the key growth catalysts for the company. Its shares have gained 32.7% in the past year compared with the Retail-Wholesale sector’s 32.5% growth.In this regard, Booking Holdings’ subsidiary, Agoda partnered with DBS to introduce a reward points redemption system for Hong Kong customers, enhancing their access to value travel deals.Per the terms of the ...

业绩总结 - 公司指引2024年收入同比增7%，略逊于市场预期（+10%）[1] - 公司总收入为48亿美元，同比增长18%，净利润为2.2亿美元，经调整净利润为11亿美元，利润率为24%[2] - 4季度间夜量为2.3亿，同比增9%，交易额为317亿美元，同比增16%[2] - 公司收入主要来源于住宿预订，占比近90%，全球超220个国家/地区运营，间夜量超10亿，GMV超1,500亿美元[5] - 2023年第四季度总收入48亿美元，同比增长18%，商户批发模式/代理模式收入分别为25亿美元和21亿美元，占比52%/43%[7] 新产品和新技术研发 - 公司战略转型批发模式，其GMV/收入占比提升至58%/52%[1] - 公司旗下主要运营品牌包括Booking.com、Priceline、Agoda、KAYAK和OpenTable[4] 市场扩张和并购 - 公司收入主要来源于住宿预订，占比近90%，全球超220个国家/地区运营，间夜量超10亿，GMV超1,500亿美元[5] 其他新策略 - 国际间夜量占比50%，移动端预订量占比提升至49%[10] - 非标住宿间夜量同比增长19%，快于整体间夜量增速[10]

业绩总结 - Booking Holdings 4季度收入48亿美元，同比增长18%[2] - 4季度间夜量为2.3亿，同比增9%[2] - 批发模式交易额同比增39%，占比提升至58%[2] - 1Q24业绩指引：间夜量同比增4%-6%，交易额同比增5%-7%[2] - 公司收入来源约90%来自住宿预订[5] - 住宿预订收入占比近90%[6] - 2024年全年指引收入增速快于GMV增速[2] 用户数据 - 2023年间夜量超10亿，GMV超1,500亿美元[5] - 全年间夜量占比提升至33%[2] - 国际间夜量占比50%，移动端预订量占比提升至49%[10] - 非标住宿间夜量同比增19%，快于整体间夜量增速[10] 未来展望 - 公司持续加大一站式预订服务平台建设，拓展机票预订、直营预订等[2] - 2023年回购100亿美元[2] - 2024年全年指引收入增速快于GMV增速，经调整EBITDA为6.8-7.2亿美元，同比增19%[2] 新产品和新技术研发 - 公司持续加大一站式预订服务平台建设，拓展机票预订、直营预订等[2] 市场扩张和并购 - 非标住宿占比提升，全年间夜量占比提升至33%[2] 其他新策略 - 风险：竞争加剧、地缘政治影响、反垄断处罚[2]

Despite economic challenges, this year is shaping to be a banner year for travel stocks.This positive outlook is due to the sector’s recovery efforts as it approaches pre-pandemic levels. Even as the U.S. economy grapples with stingy inflation and the Federal Reserve’s cautious stance on cutting interest rates, the travel industry thrives on pent-up demand and growing investment opportunities.Moreover, according to market estimates, the travel market will expand by $3.39 trillion at a CAGR of 14.18% from 20 ...

公司业绩 - Booking Holdings Inc. (NASDAQ:BKNG)是市场上最佳的复合增长公司之一，过去20年中有19年实现了正EPS增长[1] - 2020年，由于政府规定导致全球基本关闭旅行，BKNG的EPS下降了95%[1] - BKNG的平均年度EPS增长率在过去的18年中为55.7%[3] - BKNG在2023年的销售额为214亿美元，同比增长25%[18] - BKNG的Q4营收为47.8亿美元，同比增长18%，超过了预期[17] - BKNG的Q4非GAAP每股收益为32美元，同比增长29%[17] - BKNG的房间夜预订在全年增长了17%[18] 未来展望 - 分析师对2024年、2025年和2026年的预期分别为15%、15%和16%[4] - BKNG预计2024年的调整后EBITDA将比收入略快增长，预计EPS增长将超过14%[23] 股票估值 - BKNG的股价目前的前PE为20.07x，处于过去十年左右的支撑水平[26] - BKNG的股息为每股8.75美元，占2024年预期EPS的20%[39] - BKNG的股息增长率预计为15%，使其成为具有吸引力的快速增长股息股票之一[40] - BKNG的前瞻性市盈率较低，相对于MSCI更具吸引力[42] - BKNG的相对估值更有吸引力，未来有望成为高质量增长股[43] - BKNG的股息收益率超过一些高股息增长股，值得纳入投资组合[46] - BKNG有潜力建立长期的年度股息增长纪录[47] - 买入Meta和Booking是因为相信它们有望成为股息贵族[48] 风险提示 - 由于对大型科技/AI潜在扰乱BKNG业务模式的担忧，不建议过度配置[44]

财务表现 - 公司第四季度营收为47.8亿美元，超出Zacks Consensus Estimate 4.66亿美元[2] - 公司第四季度预订房间晚数为2.31亿，较去年同期增长9.2%[4] - 公司总毛预订额为317亿美元，较去年同期增长16%[8] - 公司调整后的EBITDA为15亿美元，较去年同期增长18%[11] - 公司截至2023年12月31日的现金及现金等价物总额为121.1亿美元[12]