# Booking Holdings Sees Q4 Room-Night Growth of 1% to 3%

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/48177
Published: 2026-11-04T03:12:09.000Z
Updated: 2026-11-04T03:12:09.000Z
Section: Business

> The company expects adjusted EBITDA to remain roughly flat year over year as it raises investment in AI, technology infrastructure and travel services.

Booking Holdings expects fourth-quarter room nights to rise 1% to 3% year over year as it increases spending on artificial intelligence and travel services, with adjusted EBITDA roughly flat from a year earlier.

The room-night forecast is below the 7% year-over-year increase recorded in the third quarter. Gross bookings rose 10% and adjusted revenue increased 9% in Q3, also year over year. All three measures exceeded the top of the company’s guidance range.

For the full year, Booking expects gross bookings, adjusted revenue and adjusted EBITDA to grow in the high single digits. Its fourth-quarter outlook assumes the effects of the Middle East conflict persist through year-end.

Planned fourth-quarter spending includes AI, technology infrastructure, flights, attractions and dining. Booking expects marketing leverage to offset some of those costs and full-year adjusted EBITDA margins to remain stable.

Use of the company’s AI travel features also grew. Users of Priceline’s Penny and Agoda AI Assistant converted at approximately twice the rate of nonusers. In Q3, the number of daily Booking.com visitors using AI trip search was 10 times the Q2 level.

Large language model (LLM) referrals accounted for less than 1% of Booking.com room nights. Referral traffic from LLMs and newer AI agents was very small. Booking aims to provide enough value for those agents to complete transactions through its platform.