Expedia Group and Booking Holdings reported total revenues of $11.2 billion and $14.5 billion in 2018, respectively. Moreover, both the company’s revenues have grown at a similar CAGR of 19% since 2016.

Agency Revenues contributed 27% and 72% of total revenues in 2018 to Expedia Group and Booking Holdings respectively. This was primarily due to significantly larger agency bookings at Booking Holdings as compared to Expedia Group.

On the other hand, Expedia Group has a higher share of merchant revenues due to its stronghold on merchant bookings. In 2018, Merchant Revenues for Expedia Group and Booking Holdings contributed 53% and 20% of total revenues, respectively.