However, mixed signals in travel trends, such as weakening in Europe versus stronger performance in the US and Asia, along with shifting consumer preferences towards alternative accommodations, have led to cautious optimism. Sheridan acknowledges Booking Holdings' management's ability to adapt fixed cost investments in response to the expected slowdown in growth, yet they maintain commitment to strategic investments aimed at enhancing the customer experience and expanding market reach. Furthermore, while the company provided guidance suggesting a return to normal booking patterns and a moderation in consumer travel behavior, there remains uncertainty about the short-term trajectory of travel demand and the company's momentum exiting 2024. Long-term, Booking Holdings continues to target revenue growth through initiatives like the Connected Trip, adding flights, scaling alternative accommodations, and improving their payments platform.