Airbnb vs Booking Holdings Business Model (2026)
Airbnb earns most from North America (42.4%), while Booking Holdings earns most from Merchant (66.0%). Computed from Airbnb 10-K FY2025 and Booking Holdings 10-K FY2025.
Last checked 2026-10-18 on the official pages.
Airbnb
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| North America | $5,196 million ($5.2 billion) | 42.4% | 10-K FY2025 ↗ |
| EMEA | $4,729 million ($4.7 billion) | 38.6% | 10-K FY2025 ↗ |
| Latin America | $1,160 million ($1.2 billion) | 9.5% | 10-K FY2025 ↗ |
| Asia Pacific | $1,156 million ($1.2 billion) | 9.4% | 10-K FY2025 ↗ |
| Total revenue | $12,241 million ($12.2 billion) | — | 10-K FY2025 ↗ |
Booking Holdings
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Merchant | $17,755 million ($17.8 billion) | 66.0% | 10-K FY2025 ↗ |
| Agency | $7,968 million ($8.0 billion) | 29.6% | 10-K FY2025 ↗ |
| Advertising and other | $1,194 million ($1.2 billion) | 4.4% | 10-K FY2025 ↗ |
| Total revenue | $26,917 million ($26.9 billion) | — | 10-K FY2025 ↗ |
Shared business models
Company and model pages
Airbnb: Marketplace
Booking Holdings: Marketplace
Frequently asked questions
How does Airbnb make money?
Airbnb charges service fees for use of its marketplace. Its FY2025 total revenue was $12,241 million ($12.2 billion), with North America the largest reported region at $5,196 million ($5.2 billion) and 42.4% of total revenue (computed from the 10-K FY2025).
How does Booking Holdings make money?
Booking Holdings makes money mainly from Merchant. Its FY2025 total revenue was $26,917 million ($26.9 billion), with Merchant the biggest disclosed revenue line at $17,755 million ($17.8 billion) and 66.0% of total revenue (computed from the 10-K FY2025). Booking’s merchant revenue includes travel commissions, transaction margins, payment fees, and ancillary fees.