Expedia and Booking.com aren’t just holding steady, they’re gaining serious ground in 2025. Both platforms are reporting stronger bookings, higher revenues, and a growing share of the vacation rental market that used to be dominated by Airbnb.
For property managers, this shift is more than a headline. It signals where traveler demand is flowing and which channels are becoming too important to ignore. Whether it’s the pull of loyalty programs, frictionless payments, or the sheer scale of their global reach, Expedia and Booking.com are positioning themselves as indispensable distribution partners.
Below, we’ll look at what’s driving their growth and why staying off these platforms could mean leaving revenue on the table.
Why This Matters Now (The Growth Numbers)
The latest earnings reports make it clear that Expedia and Booking.com are not slowing down. Booking Holdings, the parent company of Booking.com, saw room nights climb 8% in Q2 2025, hitting 309 million. Gross bookings jumped 13% to $46.7 billion, and revenue rose 16%. Those are the kinds of numbers that show strong traveler demand and a platform that continues to capture more of the market.
Expedia Group also delivered solid results in the same quarter. Bookings grew 5%, room nights were up 7%, and revenue increased 6%. Perhaps even more telling, Expedia raised its full-year guidance, signaling confidence that growth will continue through the rest of the year. For property managers, these figures are not just impressive stats, they are proof that both platforms are becoming more powerful engines for distribution.
OTAs’ Fastest-Growing Segment: Vacation Rentals
Vacation rentals are no longer a side note for OTAs. Booking.com now lists around 8.1 million alternative accommodation properties, from cabins and cottages to apartments and villas. Even more telling, nearly 37 percent of all room nights booked on the platform come from this category. That means travelers are actively choosing vacation rentals at the same rate as hotels, if not more in some markets.
For property managers, this shift highlights where the demand is moving. If your inventory is only on Airbnb, you could be missing a growing audience that already trusts and regularly books through OTAs like Booking.com. This is where managers can capture incremental demand rather than fighting for the same bookings on a single platform.
Loyalty Flywheels You Can Tap
One of the biggest reasons Expedia and Booking.com keep growing is how they’ve turned loyalty into a powerful engine for repeat bookings. Expedia’s One Key program connects Expedia, Hotels.com, and Vrbo under a single rewards wallet. That means a traveler who books a hotel on Expedia can later use their points on a vacation rental through Vrbo. For property managers, it creates a steady stream of cross-brand demand that you might not reach otherwise.
On the Booking.com side, the Genius program has become a game changer for visibility. Partners who join see their listings featured more prominently and get access to loyal, high-value travelers. Booking.com reports that Genius participation can increase bookings by up to 45 percent and revenue by 40 percent on average. That kind of lift is hard to ignore if you want to stay competitive.
Beyond The Apps: B2B & Media Demand You Can’t Buy Elsewhere
Expedia’s reach goes far beyond its consumer-facing apps and websites. Behind the scenes, its B2B platform powers travel for more than 400 million loyalty members through white-label sites and API partnerships. That means your property could be showing up in places you would never directly advertise, but that still drive real bookings.
On top of that, Expedia Media Solutions has been rolling out creative partnerships with brands like Beautiful Destinations. These campaigns turn inspirational content into “shoppable” travel experiences, guiding travelers from daydreaming to booking in just a few clicks.
For property managers, this is essentially free top-of-funnel exposure that positions your listings in front of audiences you might not otherwise reach. It is a reminder that Expedia is not just another OTA, it is a full-scale demand engine.
Payments And Protection Reduce Friction
One of the biggest headaches for property managers is handling payments. Failed cards, late cancellations, and endless follow-up can eat into your time and revenue. Booking.com has been working to solve that problem with its Payments system. It now supports local payment methods that make it easier for international guests to book, along with options like pay-later and virtual cards that give both sides extra flexibility.
For managers in the EEA and UK, Strong Customer Authentication (SCA) is built in, reducing the risk of declined transactions. On top of that, non-refundable bookings come with guarantees, so you can count on being paid even if plans change. The result is less manual work for you, fewer surprises for your guests, and more confidence that each reservation will turn into real revenue.
Know Where Each OTA Is Strongest
Not all traveler demand looks the same, and that is where the two giants start to diverge. Booking.com has long been the go-to platform for European travelers, and that demand remains strong. If most of your business is U.S.-based or heavily reliant on Airbnb, plugging into Booking.com can open the door to international guests who might not otherwise find you.
Expedia, on the other hand, has been leaning harder into international growth, B2B partnerships, and advertising. The company even lifted its outlook recently on the back of those strengths. For property managers, that means Expedia can help tap into new global demand and provide extra exposure through its broader travel ecosystem.
Takeaway: If you want consistent European traffic, Booking.com is a smart addition to your mix. If your goal is to diversify reach and capture cross-border bookings, Expedia’s network can give you that lift.
What This Means For Your Channel Mix
When you think about adding Expedia or Booking.com to your distribution, it is easy to worry that bookings will just shift away from the channels you already rely on. The reality is that their growth, loyalty programs, and huge B2B reach often bring new demand into the picture. These platforms can help you capture guests during slower shoulder seasons, fill urban properties that thrive on steady traveler flow, and attract stays in non-traditional inventory types that do not always shine on other platforms.
In other words, they are less about cannibalizing your existing reservations and more about expanding your reach into markets and seasons you might otherwise miss.
Quick-Start Checklist For Property Managers
If you’re ready to test Expedia and Booking.com or just want to make sure you’re set up for success, here’s a simple checklist with real-world examples:
- Match markets to the right channel: If most of your bookings come from European travelers, lean on Booking.com. For properties near airports or resorts where travelers often bundle flights and hotels, Expedia tends to deliver stronger results.
- Use loyalty programs wisely: Enroll in Genius or One Key only where the math works. For example, if you join Genius, set a minimum two-night stay during high season or block out key holiday dates. That way you gain extra visibility without eroding peak margins.
- Streamline payments: Turning on Payments by Booking.com can cut down on failed transactions. If you’ve had issues with last-minute cancellations or declined cards, virtual credit card payouts can provide guaranteed revenue.
- Boost visibility: Run a TravelAds campaign if your shoulder season is dragging. For instance, $200 in targeted spend could help you pick up midweek bookings, but always compare cost per acquisition against your net ADR to make sure it pencils out.
- Stay in control: Keep an eye on rate parity so one channel isn’t undercutting another. Track conversion, cancellation rate, and payout timing each month. For example, if your cancel rate spikes above 25% on one OTA, consider tightening cancellation policies there while keeping them looser on your direct site.
The Bottom Line
Expedia and Booking.com are no longer optional channels. They are pulling in more travelers, expanding loyalty programs, and making it easier for property managers to capture demand. Ignoring them means missing out on bookings that could keep your calendar full year-round.
The challenge, of course, is managing these platforms effectively without losing time or margin. That is where RedAwning comes in. Our Short Term Rental Management services are designed to simplify distribution across all the top OTAs while keeping your revenue goals front and center. We handle the details so you can focus on delivering great guest experiences.
Ready to make the most of Expedia, Booking.com, and every other channel that matters? Partner with RedAwning today and put your listings where travelers are already booking.
%201.webp)
%203.webp)
%201.webp)
.webp)
