Serko renews five-year contract with Booking.com

Serko has announced the signing of a five-year contract renewal with Booking.com.

The partnership will run from April 2024 to March 2029.

Serko, a provider of business travel platforms, highlighted the significance of the renewal for its growth ambitions.

The company's chief executive and co-founder, Darrin Grafton, expressed excitement about the opportunity to further scale the solution with Booking.com for the benefit of businesses and business travellers globally.

The commercial terms of the partnership remain largely unchanged, except for a revised revenue share arrangement that includes a new tiered system for higher incremental volumes.

Serko also provided an unaudited trading update for the 2023-2024 financial year, revealing that total income was estimated to be up 48% on the previous year and above the mid-point of the revised guidance range.