Booking Holdings’ ( BKNG Quick Quote BKNG - Free Report) travel search engine division KAYAK collaborated with CLEAR. Per the terms of the deal, users of KAYAK can avail a 3-month CLEAR Plus membership for free to pass the busy airport security faster.
Users can sign up for the membership until Dec 31, 2022.
Apart from the CLEAR membership offer, travel enthusiasts can enjoy benefits like the designated lanes at sports stadiums and entertainment venues, easier car rental experiences and more.
On the back of this partnership, KAYAK aims to deliver an enhanced travelling experience to customers this holiday season.
This will help KAYAK gain strong momentum among its customers, driving BKNG’s top line during the holiday period.
Growing KAYAK Efforts
Apart from the recent collaboration, KAYAK joined forces with the world’s first and the largest shared designer closet, Rent the Runaway, to help brides and wedding guests dress for the occasion.
Additionally, KAYAK released its first-ever Travel Hacker Guide: Wedding Edition, includes tips on honeymoon travel bookings, budget-friendly travel plans, and more.
Further, KAYAK teamed with
TripAdvisor’s ( TRIP Quick Quote TRIP - Free Report) subsidiary Cruise Critic. The partnership aims to help travelers in the United States, searching for a cruise on KAYAK, access Cruise Critic’s vast network of cruise itineraries and reviews.
KAYAK’s free corporate travel solution named KAYAK for Business incorporated Southwest Airlines into its platform to help travelers plan better business trips.
Competitive Travel Market
Growing initiatives in KAYAK position Booking Holdings well to capitalize on the prospects in the booming travel market.
Per a ResearchAndMarkets
report, the global travel market is likely to reach $451.2 billion by 2026, witnessing a CAGR of 13.9% during the 2022-2026 forecast period.
Given the solid potential in the travel market, not only BKNG but other online travel agencies like TripAdvisor,
Expedia ( EXPE Quick Quote EXPE - Free Report) and Airbnb ( ABNB Quick Quote ABNB - Free Report) are also making strong efforts to expand their presence in this market.
TripAdvisor is riding on its Tripadvisor Plus subscription offerings. Additionally, its growing partnerships remain positive. In March, TRIP collaborated with Walgreens to promote the latter’s COVID-19 testing solutions so that travelers who are symptomatic, unvaccinated or planning to engage in a mixed group of vaccinated and unvaccinated individuals, can opt for safe trips.
EXPE is gaining traction from customers owing to its robust portfolio offerings. Moreover, its website provides travelers with destination and flight plan choices, details of the places to be visited, maps, local restaurants, things to do, cruises, special offers and consumer reviews, so that they can book according to their preferences.
Airbnb’s growing technological efforts to attract more hosts and guests to its platform remain noteworthy. This apart, ABNB recently joined forces with Visit Bloomington to promote safe travel with a focus on local attractions, unique stays and experiences to boost travel demand in Bloomington. The partnership also focuses on supporting local shops, restaurants and the city’s workforce, which largely depend on the local tourism industry.
Nevertheless, KAYAK’s growing services and strategic partnerships are expected to help BKNG boost its competitive edge against the above-mentioned peers.
Currently, Booking Holdings carries a Zacks Rank #3 (Hold). You can see
. the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here