OTAs Top $20B in 2025 Marketing Spend Race

Competition among online travel agencies intensified in 2025 as the sector’s largest players collectively spent more than $20 billion on sales and marketing to attract travelers.

Airbnb, Booking Holdings, Expedia Group and Trip.com Group together crossed the $20 billion mark, with Booking and Expedia accounting for more than three quarters of the total. The spending reflects a continued upward trend, rising from $16.8 billion in 2023 to $17.8 billion in 2024 before surpassing $20 billion in 2025.

Marketing investment as a share of revenue varied by company. It represented about 30% of total annual revenue for Booking Holdings, 50% for Expedia Group, 21% for Airbnb and 24% for Trip.com Group.

Despite industry discussions around leveraging traveler intent data, loyalty programs, artificial intelligence-driven efficiencies and direct engagement strategies, the major OTAs have not meaningfully reduced reliance on paid channels. Instead, spending levels suggest ongoing reinvestment and channel diversification.

Booking Holdings spent $8.2 billion on marketing in 2025, up from $7.3 billion the previous year. The company said direct business remained in the mid-60% range, consistent with 2024, while Genius level 2 and 3 members accounted for a high-50% share of room nights. However, gains in direct traffic were offset by increased investment in performance marketing, social media and brand campaigns, including a fourth-quarter marketing spend of $1.9 billion.

Expedia Group allocated nearly $7.4 billion to direct sales and marketing in 2025, compared with $6.8 billion in 2024. While two-thirds of bookings come through direct channels, the company continues investing to maintain brand visibility, including integrations with emerging AI platforms. Fourth-quarter marketing costs rose 10% year over year to $1.7 billion, although B2C direct spending declined slightly, offset by higher B2B commissions.

Airbnb’s marketing spend climbed to $2.6 billion in 2025 from $2.1 billion in 2024, continuing a steady rise from $1.5 billion in 2022. The company signaled potential future investment in loyalty initiatives while reinvesting platform efficiencies into marketing and product development.

Trip.com Group increased marketing outlays 25% year over year to $2.1 billion in 2025, driven by promotional activity and international expansion.

The data underscores that scale, brand visibility and paid acquisition remain central battlegrounds in the global OTA market.

Sources: AirGuide Business airguide.info, bing.com

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OTAs Top $20B in 2025 Marketing Spend Race

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