Booking.com is still considered an underdog in the US short-term rental market, despite making substantial improvements to its product and operations in recent years. During the company’s second-quarter 2026 earnings call, CEO Glenn Fogel acknowledged that Booking.com wants a much stronger presence in the US market and described the issue as something of a “broken record.”
The situation today is very different from 2022, when Booking.com was still trying to convince the market that it was a serious option for booking vacation rentals. At the time, the company launched its “Think Bigger, Think Booking.com” campaign and invested in advertising in the United States while simultaneously addressing fundamental operational weaknesses.
From payment problems to a more mature offering
According to the report, payments were one of the biggest challenges for property managers. For years, Booking.com left properties to collect payments directly from guests—a model better suited to hotels than residential property managers.
This resulted in failed payments and cancellations that property managers described as particularly problematic. By late 2022, Booking.com had begun rolling out an improved payment solution and introduced a request-to-book option for hosts who were not comfortable offering instant booking.
Since then, the less visible part of the company’s strategy has focused on improving its operations, while the more visible side has involved advertising and building brand awareness in the United States.
Alternative accommodation has grown, but not enough in the US
By 2025, Booking.com had recorded several consecutive quarters of growth in alternative accommodation, a category that includes vacation rentals, apartments, villas, guesthouses, B&Bs and aparthotels. For the full year, approximately 36% of Booking.com’s more than 1.2 billion room nights came from this category, equivalent to around 430 million non-hotel room nights.
The report notes that this figure represents approximately 80% to 85% of Airbnb’s total nights and experiences. However, Booking.com stresses that its alternative accommodation category is broader than short-term rentals alone, as it includes several other types of accommodation.
In the second quarter of 2026, the company reported high-single-digit growth in US room nights, supported by domestic demand. It also recorded another quarter of growth through its direct channel in the US market.
However, alternative accommodation room nights increased by 4% globally, compared with 5% growth in total room nights. Management explained that quarterly momentum was stronger at Agoda, Priceline and in the United States—areas where the group’s alternative accommodation offering is “relatively smaller.”
The same message from the CEO
Glenn Fogel made no attempt to paint a rosier picture. He said he wants Booking.com’s alternative accommodation business to be much larger in the United States and once again outlined the same three priorities: securing the right inventory, raising awareness among US travellers and ensuring partner satisfaction.
His description of the company’s strategy was equally revealing: Booking.com intends to “grind it out” by steadily improving its product, service, inventory and marketing, while making the local adaptations that a global operator often lacks.
For short-term rental professionals, the conclusion is that Booking.com is not giving up on the US market but is continuing to build its presence gradually. The company appears to believe that the gap will not be closed through a single major move, but through continuous improvements to its operations, supply and relationships with partners.
Whether Booking.com can attract the inventory it wants remains the key question. As the company’s own message suggests, the answer will depend largely on the property managers who decide where to list their accommodation.
Frequently Asked Questions
Why does Booking.com believe it is still lagging behind in the US?
According to the report, the company still wants to secure more properties, increase brand awareness and build stronger relationships with partners in the US market.
What has changed since 2022?
Booking.com has significantly improved its payment systems, introduced a request-to-book option and strengthened its overall position in the alternative accommodation market.
