Online Travel Agency Chartbook 2025

Report Overview

This chartbook provides an analysis of the 10 largest publicly traded online travel agencies (or OTAs), considering market sizing, financial performance, and strategic developments of each company. It serves as both a benchmarking tool and strategic resource for understanding the dynamics of the online travel landscape.

The OTA sector continues to recalibrate in the post-pandemic landscape, with clear strategic shifts taking shape across the industry. Many platforms are expanding beyond their core accommodation offerings, while others are exiting unprofitable verticals to refocus on high-margin or fast-growing niches. Emerging growth levers include subscription models, mobile-first platforms, social marketing and B2B partnerships — all aimed at deepening customer loyalty and diversifying revenue streams. The competitive landscape continues to remain fluid, with regional leaders (e.g. Trip.com and MakeMyTrip) increasingly challenging global incumbents such as Booking Holdings.

What You'll Learn From This Report

• How the 10 largest publicly traded online travel agencies compare in terms of market capitalization, key financial metrics, market share and share price performance.

• Key strategic moves by major players such as Booking, Expedia, Airbnb, and Trip.com, including investments in B2B, subscriptions, flights, alternative accommodations and social marketing.

• The rise of region-specific OTAs like MakeMyTrip and Trip.com, and how they are leveraging mobile-first and super-app strategies to compete with global giants.