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  "documentTitle": "2026 02 Investor Presentation",
  "authorId": "Booking-Holdings",
  "authorName": "Booking Holdings",
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  "notes": "The slide uses a tiered structure to explain the loyalty program benefits. It highlights key metrics regarding program adoption and traveler mix.",
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      "text": "Booking.com Genius mix was in the high 50% range in 2025 (this mix increased YoY) and represented over 30% of Booking.com active travelers.",
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      "text": "Our Genius loyalty program offers rewards such as pricing discounts, free room upgrades, free breakfasts, and priority customer service support. Genius enables our supplier partners to capture incremental demand. Booking.com Genius mix was in the high 50% range in 2025. We see a meaningfully higher direct booking mix for Genius users versus other users.",
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      "text": "(1) Represents the mix of Booking.com room nights booked by travelers in the higher Levels 2 and 3 Genius tiers.",
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