Valuation Trading Multiples & Precedent Transactions: Online Travel Booking and Management Companies
Valuation benchmarks for Online Travel Booking and Management Companies. Access public trading comps, EV/EBITDA acquisition multiples, and private market data for pitch books and valuation analysis.
1.1 - Online Travel Booking and Management Companies Market Context & Valuation Drivers
These public companies operate online travel booking and management platforms that aggregate global inventory across flights, hotels, rail, and car rental, enabling consumers and enterprises to plan and purchase travel digitally. They monetize through commissions, merchant markups, service fees, advertising, and ancillary sales. They are grouped as public trading comparables given shared transaction-driven models, scale economics, and marketplace dynamics that underpin valuation benchmarks.
Typical capabilities include flight search and ticketing across hundreds of airlines, hotel reservations and alternative accommodations at scale, rail and bus ticketing, car rental booking, dynamic packaging of vacations and tours, and ancillary products such as insurance. Corporate offerings span managed travel programs, meetings and events services, policy compliance and expense management, centralized billing accounts, traveler support, mobile apps and loyalty programs, as well as integrations with GDSs, payment rails, and supplier systems.
Primary customers include leisure travelers booking directly online, business travelers, and corporate travel departments across SMB and enterprise segments. Valuation focus centers on gross bookings growth, net revenue or take rate stability, customer acquisition efficiency and repeat booking retention, mobile conversion and app engagement, and EBITDA margin expansion driven by marketing leverage and automation. Geographic mix and exposure to air versus lodging also inform comparability.
2. Valuation Analysis: Public Trading Comps & Multiples for Online Travel Booking and Management Companies companies
2.1 - Public Peer Groups & Median Valuation Multiples for Online Travel Booking and Management Companies sector
Comparable group 1: Online Travel Booking and Management Companies
Trip.com Group
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of online travel services, offering hotel accommodations, airline tickets, train tickets, and tour packages through a multilingual platform to customers globally, with a focus on convenience and comprehensive travel solutions.
- Key Products:
- Hotel Accommodations: Booking services for a wide range of hotels worldwide
- Airline Tickets: Comprehensive ticketing solutions for domestic and international flights
- Train Tickets: Convenient booking options for train travel across regions
- Tour Packages: Customizable tour packages for various destinations
- Car Rentals: Vehicle rental services for travelers' convenience
Tongcheng Travel
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of online travel agency services including transportation ticketing, accommodation bookings, tourist attraction tickets, packaged tours, and value-added ancillary services through mobile apps, websites, and Tencent-based platforms.
- Key Products:
- Transportation Ticketing: Comprehensive booking services for various modes of transportation
- Accommodation Bookings: Hotel reservation services with wide selection
- Tourist Attraction Tickets: Booking service for entrance tickets to various tourist attractions
- Packaged Tours: Complete travel package services for groups and individuals
- Value-added Ancillary Services: Additional support services enhancing travel experience