TIVP047: Booking Holdings (BKNG): Does Booking.yeah = Value.yeah? w/ Shawn O’Malley & Daniel Mahncke
The Intrinsic Value Podcast - The Investor’s Podcast Network
Booking’s AI vision and connected-trip examples
They cite CEO Glenn Fogel on AI memory, proactive rebooking, and Booking’s potential as an objective intermediary.
Shawn O’Malley and Daniel Mahncke break down Booking Holdings (ticker: BKNG), the world’s largest travel company.
IN THIS EPISODE, YOU’LL LEARN: 00:00:00 - Intro 00:24:07 - What are the subtle differences between Expedia, Booking, and Airbnb 00:26:18 - How Booking.com established a foothold in Europe despite Expedia’s dominance in North America 00:55:59 - What Alphabet could do to seriously disrupt Booking 01:01:14 - How Booking uses price parity to protect its value-add to customers 01:03:56 - Whether Booking can be disrupted by AI 01:09:50 - About the flawed approach the company has taken with its management comp 01:19:04 - Why the global travel industry should continue to outpace GDP growth 01:22:09 - How to think about modeling BKNG’s intrinsic value 01:23:53 - Whether Shawn and Daniel add BKNG to their Intrinsic Value Portfolio
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
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- Shawn & Daniel use Fiscal.ai for every company they research — use their referral link to get started with a 15% discount!
- Our colleagues Clay Finck and Kyle Grieve’s discussion of BKNG on We Study Billionaires.
- How Booking’s management thinks about stock-based comp.
- Interview with Booking's CEO on the promise of AI in travel.
- Booking’s CEO interview with Time Magazine.
- Explore our previous Intrinsic Value breakdowns: Paypal, Uber, Nike, Reddit, Amazon, Airbnb, TSMC, Alphabet, Ulta, LVMH, and Madison Square Garden Sports.
- Related books mentioned in the podcast.
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