A total of 5 rounds of interview - 1st and 2nd rounds are on phone, 3rd, 4th and 5th are face to face rounds.
First round is with the tech recruiter, so they will essentially probe you to check whether you have qualities required for a PO role. Questions revolve around your product thinking , prioritisation etc.
In the second round, you have to prepare a presentation on a case they send you. This round goes in slightly more detail and interviewers (POs) dive deep in your past experience. They focus on your thought process, user focus, and whether you are data driven .
If you get through both of these elimination rounds, you get invited to Booking.com HQ in Amsterdam. There are usually 2-3 rounds of product interviews and 1 HR informal discussion. First discussion is with two POs where you have to present a business case that they send along with the invite. Remember, focus is not on the content but on your product management skills. Both of the POs were thoughtful and asked some good questions on my case.
Second f2f round is with two senior POs where they will present you with a real life problem statement and you have to brainstorm with them to come up with potential solutions. Again, there is no right answer here - they are checking how you go about ideation, how do you validate your ideas, how do you test etc. I was lucky to get two really humble and friendly senior POs who gave me quite an intriguing idea they were working on.
Then, a member of the recruitment team take you on an office tour. Finally, in the last round, a director level person discusses past experience to see what can be the best fit. I believe this round depends upon your performance in the earlier rounds. In my case, interviewer shared the feedback so far and further enquired about my interest.