Booking Holdings: Hotel Fragmentation Moat
Seeking Alpha·2026-02-24 05:52

Core Viewpoint - The article discusses the preference for Booking (BKNG) over Expedia (EXPE) due to Booking's greater international selection and overall user experience in travel planning [1]. Group 1: Company Analysis - Booking (BKNG) is favored for its extensive international offerings, which enhances the travel experience for users [1]. - Expedia (EXPE) is mentioned as a competitor but does not match the selection provided by Booking [1]. Group 2: Analyst Background - The author has over 35 years of experience in the investment field, including roles as a sell-side and buy-side analyst, as well as a portfolio manager for debt and equity funds [1]. - The focus is on providing fundamental analysis of companies and funds, with an emphasis on financial statements and their implications [1].