Booking Holdings and Marriott International present contrasting investment cases for 2026. Booking, an online travel agency, reported fiscal 2025 revenue of $26.9 billion, a 13.4% increase, with net income of $5.4 billion and a net margin of 20.1%, while generating $9.1 billion in free cash flow. Marriott, a hotel franchisor with nearly 9,900 properties and a loyalty program of roughly 271 million members, posted revenue of $26.2 billion, up 4.3%, net income of $2.6 billion, and a net margin of 9.9%, with free cash flow of $2.6 billion. Booking trades at a forward P/E of 17.4 times versus Marriott's 33.0 times, though Marriott has a lower price-to-sales ratio of 3.8 times compared to Booking's 5.2 times. The analysis favors Booking for its stronger sales growth and beaten-down share price, while noting Marriott's steady fee-based income appeals to conservative investors.
Booking Holdings IncArticle favors Booking for stronger sales growth and lower forward P/E, suggesting undervaluation.
Marriott International IncArticle notes Marriott's steady fee-based income appeals to conservative investors but trades at higher P/E.