Seeing distinctive travel trends in India: Booking.com's Laura Houldsworth

"In India, we're witnessing distinctive travel trends, including spiritual and religious tourism" said Laura Houldsworth, MD & VP, APAC, Booking.com

India remains an important market for Booking.com, both within the Asia-Pacific (APAC) region and globally. The bookings in Asia are one of the big focus areas for the company, Laura Houldsworth, managing director and vice president, APAC, Booking.com, said in a virtual interaction with Roshni Shekhar. Edited excerpts:

 

How was 2024 for Booking.com's business performance?

 

Overall, 2024 was very good for us. We (Booking Holdings) saw record room nights booked across the group of over 1.1 billion against 900 million last year (2023). We saw significant overall growth and room night growth, which was up by 20 per cent in 2024 compared with 2023. We saw Asia as the fastest growing region with a mid-teens growth (in terms of room night growth). The US was up by about 10 per cent, and Europe was up in the low double-digits.

 

We are anticipating another strong year in 2025. We also saw higher growth in the alternative accommodation, which was also a significant growth factor for us (in 2024).  In recent years, Indian travellers have also been increasingly looking for properties that offer an alternative to the traditional hotel experience.

 

How does the APAC market differ from other global markets in terms of bookings?

 

European bookers represented about half of the room nights booked in 2024, Asian bookers were about a quarter, and US bookers were in the low double-digit percentage.

 

We have more than 60 per cent of the world’s population in our region, and that population is growing across India and China, where the growing middle class is becoming a huge opportunity for us to capture. The bookings in Asia are one of our big focus areas. A few years ago, all eyes were on China, but now all eyes are on India and its travellers. The travel patterns of Asian bookers are both similar to and different from other markets. They tend to be younger, highly price-sensitive, and prioritise affordability when choosing accommodations. 

 

In India, we’re witnessing distinctive travel trends, including spiritual and religious tourism. There is also an emerging global trend that is particularly strong in India, which is the nocturnal or dark-sky tourism, where travellers seek remote locations for stargazing and nature-based escapes. Wellness travel, a growing trend worldwide, is also prominent in this region. AI-powered trips will be a new trend where people will use AI for different things, be it customer service support or for pure inspiration. We think 90 per cent of Indian travellers will rely on AI tools to curate personalised itineraries that prioritise authentic, local experiences while avoiding overcrowded tourist spots.

 

Since Asia is your fastest-growing market, what are the top three markets that contribute the most within the APAC region?

 

India remains one of our important markets, certainly for our region and globally. We don’t size them (countries) or specify particularly, but Thailand and Japan have worldwide appeal. Australia is also an important market for us and continues to grow. Overall, the region as a whole is the fastest-growing part for the company and will continue to be very important for the business. In terms of revenue contribution, post-Covid, the Indian market’s revenue contribution has increased, and we expect it to increase in the coming years.

 

Earlier, Booking Holdings said that there might be some layoffs in Booking.com due to the restructuring of the organisation. What prompted the restructuring in Booking.com?

 

I would not say that is restructuring, but it is one part of a transformation. We want to make sure that we are set up for future success. Let's say we have had strong growth over the last few years, and we need to make sure that it continues. Therefore, we need to make sure we are investing in the right areas. It's not about cost-cutting. It is more about investing in growth and investing in the right places. We are expecting to grow to over a thousand headcount this year (in the Booking Holdings Center of Excellence, Bengaluru). So, not cost-cutting, not headcount-cutting, but really finding the right places to invest.

 

Is there any other region within the APAC region that will be affected by layoffs?

 

We are not specifically calling out where changes will be made at this point. It will be a transformation programme and we will make the efficiency gains where it makes sense.