Booking Holdings (BKNG) Expands Reach to Diners With CLEAR

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Booking Holdings Inc.’s (BKNG Quick QuoteBKNG ) online restaurant reservation provider OpenTable has teamed up with CLEAR (YOU Quick QuoteYOU ) in a bid to help diners get an access to their proof of vaccination easily if asked at the restaurant.

A diner will be able to proof the proof of vaccination with CLEAR’s digital vaccine card, which can be created on the CLEAR app, seamlessly. This card links the diner’s identity with the vaccination evidence from the vaccine providers.

The creation of a digital vaccine will be done effortlessly via the CLEAR banner, which will appear on the reservation confirmation page of the OpenTable app.

This facility is likely to get launched in September 2021 on the OpenTable app on both iOS and Android.

With this latest partnership, Booking Holdings strives to deliver a hurdle-free enhanced dining experience to its customers during the ongoing pandemic situation where the Delta variant of Covid-19 is spreading rampantly. Consequently, restaurants are asking for vaccination verification for indoor dinning.

The collaboration is also expected to attract diners to the OpenTable platform, which in turn, will boost its user base. The company’s momentum across the online restaurant booking space will get a stimulus as well.

Booking Holdings Inc. Price and Consensus

Booking Holdings Inc. Price and Consensus

Booking Holdings Inc. price-consensus-chart | Booking Holdings Inc. Quote

Growing Initiatives at OpenTable

The company’s restaurant reservation business was hurt by the coronavirus pandemic-led economic lockdown, social distancing and shelter-in-place restrictions, which caused disruptions in the restaurant market last year.

The latest move bodes well for the company’s growing efforts toward strengthening its OpenTable platform amid the prevalent pandemic.

Apart from CLEAR par! tnership, OpenTable recently introduced a new video series Restaurants on the Rebound. The series documents the survival journey of four restaurants, namely 50Kitchen, China Live, L’ocaD’oro and Pink Dinghy plus how these eateries geared up for improvising their business in the current pandemic scenario.

We believe, the video series is likely to expand its reach to restaurant owners and boost customers’ confidence.

We also perceive that all these endeavors are likely to strengthen Booking Holdings’ competitive position against the companies like TripAdvisor (TRIP Quick QuoteTRIP ) and Yelp (YELP Quick QuoteYELP ) , which also offer online restaurant booking services.

Bottom line

The latest move by Booking Holdings is in sync with its strategy of reinforcing efforts to bolster its overall business after facing massive disruptions caused by the coronavirus pandemic.

The company is currently experiencing improving bookings owing to the reopening of economy and the ongoing vaccination drive throughout the world. Moreover, the growing momentum across its agency, merchant, and advertising and other businesses is contributing well.

We believe, the company’s planned partnerships and various growth initiatives are likely to help it navigate the tough operating environment induced by pandemic adversities.

Currently, Booking Holdings carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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