Theory: BKNG (Booking Holdings Inc) is going BANKRUPT
This is not only about the share, but also an alert.
I have a small hotel in Europe. When guests make a reservation, they pay Booking.com first and then Booking.com pays us (the Hotel). But booking.com recently SIMPLY STOPPED paying us! (So they are retaining guests' money). From today we will not accept guests from booking.com anymore, since these guests paid Booking.com but booking.com is not paying us.
But here is where things get even MORE SHOCKING…
This is happening with MULTIPLE PROPERTIES (Maybe Booking.com is going bankrupt? Who knows…). Lots of hotels are recommending all guests to CANCEL their reservations with Booking.com, and those who already paid, to seek legal action at the earliest against the company.
Visit the Facebook pages from Booking.com and you will see a complete shitstorm.
And then yesterday they released their results… and we can see that they are burning money MUCH FASTER than they can sustain.
They are running out of money QUICK, and with the wave of legal actions they will suffer, this can trigger a bankruptcy at any point.
Submitted August 04, 2022 at 10:39AM by TheAuthorBRPL
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