BKNG Citi TMT 2025

All right. I think we are on the clock, so we can get started here. I'm Ron Josey, I cover the Internet sector here at Citi. And look, I'm thrilled to have with us today, Ewout Steenbergen.

Ewout, you joined about 1.5 years ago. We have a lot to get -- to talk to. Everybody here pretty much I'm sure you know what Booking.com does. So why don't we just jump into it?

Thank you for joining us today.

Happy to be here.

Let's see. We were just talking travel. We're just talking like around the globe and everything else. It's summer.

We're just wrapping up summer. Let's just sort of talk about, do you have any summer travel trips or anything to talk about that you did this summer that's fun -- that was fun?

Yes. Actually, travel, I do a lot. Of course, for business, I always have done that. I think this year, I would probably hit about 70 flights or so.

So -- yes.

And we're not talking New York to Boston, right?

Often to Europe or to Asia, of course, given the global spread of our business. But last week, I had some time with my wife to go to Japan for a personal holiday. So that was very nice to Osaka and Kyoto. I love the country.

I mean, just the culture and just how gentle and peaceful the culture is and the people, it's just -- it's really impressive.

Yes, I did too much business travel this summer, not enough personal travel. My family did a lot of personal travel, but every flight we were on was packed. So anyway, we're trying to do our own little channel checks here. So I don't know if your flight was packed.

It was very full. And I think every place. Even if you go to places where in the past, it would be considered low season and you wouldn't see a lot of tourists, now it's actually -- it's much busier.

But I think, by the way, Jane would probably be very happy to hear that you only traveled and only worked for business and that there was a lot of personal time.

My family...

I'm sorry to hear.

They had a wonderful summer. We were here trying to build Citi Internet, so -- yes, absolutely.

So with that, Ewout, a question we