How Stitch Fix Fumbled a Make-or-Break Pivot Read Now

Kayak CEO Steve Hafner. Photo: Bloomberg
Travel

Airbnb Rival Booking Is Having an Identity Crisis

Photo: Kayak CEO Steve Hafner. Photo: Bloomberg

Internet travel conglomerate Booking Holdings has been a dependable company for investors, generating consistent profits and returns in line with the S&P 500 over the last five years. But in an industry radically altered by hot brands ranging from Airbnb to Uber to Google, Booking has struggled to stand out.

That has triggered something of an identity crisis at Booking, the world’s largest online travel company by revenue. Its businesses, which include Kayak.com, OpenTable and Booking.com, took in more than $14.5 billion last year. But growth is slowing, and tensions have emerged as Booking executives jockey for influence over the company’s direction.

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