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What do you think the global booking cancellation rate is at Booking.com, and why?

Focus on breaking down your thought process for estimating the global booking cancellation rate at Booking.com. Start by considering the factors that influence cancellation rates in the travel industry, such as seasonality, user behavior, and external events (e.g., pandemics, economic downturns). Use logical reasoning to arrive at a percentage, and be prepared to justify your estimate with relevant data points or trends. Discuss how you would validate your assumptions and what metrics you would track to monitor changes in cancellation rates over time.

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