Booking Holdings says its continuing on its strategy to increase its direct business as it reported earnings for the second quarter of 2018.
Chief executive officer Glenn Fogel said direct business stands at about 50% of nights booked and that a significant proportion of those customers are new to the platform.
Revenue for the quarter was up 20% to $3.5 billion with net income up 36% to $997 million for the period. Rooms nights for the company increased 12% year-on-year.
In terms of the direct strategy, Fogel refers to the channel as “one of the fastest-growing channels” for the business.
Responding to a question about working with Google, Fogel says it is a "symbiotic relationship" that works well for the company.
Booking Holdings also continues to build its travel offering through the development of its alternative accommodation platform, which now offers about 5.5 million listings of homes, apartments and other units.
He says that while it's more difficult for non-local players to work there, the company is maximizing the opportunity by developing its own brand and partnering with companies with a solid customer base such as Ctrip, Didi and Meituan-Dianping.
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