November 2026
Largest Online Travel Public Companies in the US
Benchmark revenue and EBITDA valuation multiples for public comps like
Booking Holdings, Airbnb, Expedia, Travel+Leisure and Tripadvisor.
 | Booking is the world's largest online travel agency by sales, offering booking and payment services for hotel and alternative accommodation rooms, airlines, rental cars, restaurants, cruises, experiences, and other vacation packages. The company operates several branded travel booking sites, including Booking.com, Agoda, OpenTable, Rentalcars.com, Kayak, and Momondo. Transaction fees for online bookings account for the bulk of revenue and profits. | $156 | -21% | $116B | $121B | 4.5x | 14.5x | ||
| Airbnb is a global online marketplace connecting hosts offering homes or experiences with guests seeking short-term accommodation and travel activities. It earns service fees on bookings while providing discovery, payments, trust, customer support, and marketplace infrastructure. The company serves customers and counterparties through the operating assets, products, or financial capabilities described in the cited transaction materials. Its economics are driven by marketplace, while its competitive position depends on sector expertise, asset quality, customer relationships, and disciplined capital allocation. The company is classified in Accommodation and Online Travel and Consumer Marketplaces because those categories best represent its principal activity at the transaction date. This profile is intended to identify the legal or operating business involved in the deal, including a historical name where the company was later renamed, merged, privatized, or reorganized. | $167 | +43% | $98B | $89B | 7.3x | 36.5x | ||
| Expedia Group is an American travel technology company headquartered in Seattle, Washington, that runs online travel booking sites and supplies travel inventory and technology to other businesses. It was founded in October 1996 as a division of Microsoft, spun off as a public company in 1999, came under the control of IAC in 2001 and was spun off by IAC in August 2005. Its three core consumer brands are Expedia, Hotels.com and Vrbo, alongside Orbitz, Travelocity, Hotwire, ebookers, Wotif and the Trivago hotel metasearch site, while its B2B segment powers travel sales for airlines, travel agents, retailers, corporate travel managers and financial institutions. At the end of 2025 it offered about 3.6 million lodging properties, including 2.4 million Vrbo alternative accommodations, plus more than 500 airlines, rental cars, cruises and activities. It earns mainly commissions and margins on bookings, plus advertising revenue; in 2025 gross bookings were $119.6 billion and revenue $14.7 billion, of which lodging contributed $11.8 billion. The company had about 16,000 employees in nearly 50 countries at the end of 2025. Its shares trade on Nasdaq; Barry Diller is chairman and Ariane Gorin chief executive. | $286 | +12% | $34B | $34B | 2.3x | 13.5x | ||
| Travel+Leisure Co is a membership and leisure travel company. It provides hospitality services and travel products. The company operates in the segments of Vacation Ownership, which is the key revenue-driving segment, develops, markets and sells vacation ownership interests (VOIs) to individual consumers, provides consumer financing in connection with the sale of VOIs, and provides property management services at resorts, and Travel and Membership which operates a variety of travel businesses, including two vacation exchange brands, Vacation Ownership and Travel and Membership The majority of the revenue is earned from the United States. | $75 | +10% | $4.5B | $10B | 2.6x | 15.1x | ||
| Tripadvisor is the world’s leading travel metasearch company. Its platform offers 1 billion reviews and information on several million accommodations, restaurants, experiences, airlines, and cruises. In 2025, 42% of revenue came from the company's core Hotel and Other segment, which includes hotel revenue generated through advertising on its metasearch platform. Viator, its experiences brand, was 46% of revenue in 2025, and TheFork, its dining brand, represented 12% of sales. | $9 | -37% | $1.1B | $1.2B | 0.6x | 7.2x | ||
| Travelzoo acts as a publisher of travel and entertainment offers. It operates in four segments. Travelzoo North America segment, which is the key revenue driver, consists of operations in Canada and the U.S.; Travelzoo Europe segment consists of operations in France, Germany, Spain, and the U.K.; Jack's Flight Club segment consists of subscription revenue from premium members to access and receive flight deals from Jack's Flight Club via email or via Android or Apple mobile applications; and New Initiatives consists of Travelzoo’s licensing activities in Asia Pacific territories. It derives its revenue through advertising fees including listing fees paid by travel, entertainment, and local businesses to advertise their offers on the company's media properties. | $5 | -29% | $51M | $55M | 0.6x | 6.9x | ||
| Median | $116 | -5% | $19B | $22B | 2.4x | 14.0x |
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