Pull up your last Booking payout. Booking takes the card, holds the funds, and sends you a payout with everything it is owed already subtracted. For the first quarter of 2026, merchant revenue came in at $3.70 billion, up 26.7% on the year. Merchant bookings now account for roughly 72% of everything booked across the group, a mix that moved five percentage points in twelve months. Deferred merchant bookings at March 31, 2026: $8.2 billion.