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  "documentTitle": "2026 02 Investor Presentation",
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  "authorName": "Booking Holdings",
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  "notes": "The slide uses a simple arithmetic buildup to demonstrate market penetration potential within the existing partner base.",
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      "text": "BKNG room nights represent approximately 1 in 10 bookable room nights with our existing partners",
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      "text": "Room nights penetration: 1 in 10",
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      "text": "BKNG’s Room Nights as a % of Potentially Bookable Rooms with Existing Partners",
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      "text": "(1) Represents the total number of rooms in hotels and alternative accommodations that were listed on Booking.com’s platform as of December 31, 2025.",
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      "text": "Reported Listings(1) ~32 million; x Days in the Year 365; Annual Bookable Room Nights ~12 billion; BKNG 2025 Room Nights 1.2 billion",
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