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FORTUNE.COM // NOVEMBER 2019
Booking
Holdings
44 U.S. (BKNG, $1,943)
With brands such as
Booking.com, Priceline,
Kayak, Agoda, and
OpenTable, the digital
travel giant has pros-
pered from a pair of
trends: more vacation-
ers making reserva-
tions online and the
overall growth of the
global travel market
(nearly 90% of the
company’s revenue is
now international).
Booking.com, its core
site, is nearing 30 mil-
lion accommodation
listings as it widens its
scope to com pete with
fast-growing rivals
like Airbnb.Transurban
30 AUSTRALIA (TRAUF, $10)
Transurban’s hefty in-
vestments have made
the company one of
the world’s largest toll-
road operators and the
dominant player by far
in Sydney.Expedia
33 U.S. (EXPE, $134)
With a focus on inter-
national growth, the
company behind
brands like Travelocity,
Orbitz, and Hotels.com
has also acquired
HomeAway and soft-
ware companies Pillow
and ApartmentJet to
expand its “alternative”
lodging portfolio.Ctrip.com International
2019 RANK: 8 CHINA (CTRP, $29)
CHINA-BASED CTRIP has become Asia’s larg-
est online travel agency—with 210 million
monthly active users—and it continues to
expand its global footprint. Under the lead-
ership of CEO Jane Sun, who took the helm
in 2016, Ctrip has posted stunning growth.
Revenue in 2018 was $4.7 billion, an 18%
increase from the prior year, while the com-
pany boasts a market cap of $17.1 billion, a
30-fold increase since the company went
public on the Nasdaq in 2003. Women make
up more than half its 45,000 employees and
represent more than one-third of high-level
executives. Following the 2016 acquisition
of Skyscanner, the company expects inter-
national business—now 35% of revenue—
to grow 15% this year.Alphabet
18 U.S. (GOOGL, $1,202)
GOOGLE STILL domi-
nates the online search
landscape, which
means Alphabet
maintains the inside
track on advertis-
ing’s continued digital
shift. That position
has been aided by the
company’s investment
in artificial intel-
ligence and machine-
learning technology
that helps generate
better returns for
advertisers. Alphabet,
in turn, deploys that
advertising revenue
for long-term enter-
prises like Waymo, its
autonomous-vehicle
subsidiary. Yet it re-
mains under an intense
regulatory spotlight
regarding potential
antitrust issues—and
is sensitive to trade-
related factors.Amazon.com
31 U.S. (AMZN, $1,722)
The amazing thing
about Amazon is how
fast it grows consider-
ing its size. Despite ex-
ceeding $200 billion in
annual sales, Amazon’s
three-year average
growth rate is 30%—
the type of gains typi-
cally only a startup can
record. As for its fu-
ture? Its market-
leading web-services
business introduces
online innovations with
metronomic frequency,
while Alexa showed a
glimpse of what A.I.
can do. Meanwhile it’s
continually reinventing
the ver y notion of a
business model.BIG,
BIG TECH
TRAVEL & LOGISTICS
Sun rise: Ctrip’s CEO has made
SASHA MASLOVthe company work for women.