The Russian subsidiary of the online hotel booking service Booking.com, Booking.com Russia LLC, reported a drop in its revenue in 2023 by a third compared to 2022. In addition, net profit decreased by almost half.
Join
Booking.com Russia LLC’s revenue at the end of 2023 amounted to 270.8 million rubles, which is 32% less than in 2022 (399.5 million rubles), according to data from the Federal Tax Service. Net profit decreased 1.8 times: from 76.7 million rubles to 41 million rubles.
The net profit margin is 15%. The company’s accounts payable amount to 12 million rubles (92% less than in 2022).
The Booking.com service suspended its operations in Russia at the beginning of March 2022. After this, it became impossible to book accommodation located in the Russian Federation through it.
Since 2022, the company’s revenue and net profit have continued to decline.
In mid-March, Booking.com Russia LLC replaced its CEO. The position of executive director was held by Anna Filatova, who is also general director of LLC “Law Company “Konnov and Sozanovsky””.
Booking.com Russia LLC is 98.9% owned by the Dutch Booking.Com International BV, another 1.1% is owned by Booking.Com Limited in the United Kingdom, according to Rusprofile data.
Author:
Anastasia Marina
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
