The Logan Bartlett Show

EP 125: Glenn Fogel (CEO, Booking Holdings) Building a $170B Travel Empire: On AI, Acquisitions, and Shaping Travel’s Future

Dec 6, 2024

Glenn Fogel, CEO of Booking Holdings, shares insights on building a $170 billion travel empire, drawing from his finance and tech background. He discusses the resilience of the travel industry through past crises like 9/11, the evolution of pricing models, and the strategic acquisitions of brands like Booking.com. Fogel emphasizes AI’s transformative role in enhancing customer experience and operational efficiency, while navigating the challenges of mergers and acquisitions in a complex regulatory landscape. He also reflects on post-pandemic travel trends and the balance between leisure and business travel.

01:17:33

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Episode guests

Glenn Fogel

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Booking Holdings' strategic acquisitions, like Booking.com, have been pivotal in establishing its dominance and expanding market share in the travel industry.

The integration of artificial intelligence, such as the AI Trip Planner, is revolutionizing customer experience by personalizing travel recommendations and improving service efficiency.

Leadership during crises requires calmness and optimism, emphasizing the potential for recovery and growth even in challenging circumstances like the COVID-19 pandemic.

Deep dives

Growth and Challenges of Booking Holdings

Booking Holdings has evolved into a major player in the travel industry with a market valuation exceeding $170 billion, largely driven by its flagship brand, Booking.com. The company has navigated numerous challenges over the years, including natural disasters, economic downturns, and global crises such as the COVID-19 pandemic. Despite these hurdles, its strategic acquisitions and international expansion have been key factors in its growth, allowing it to capture significant market share. For instance, Booking.com alone accounts for approximately 90% of the company's revenue, showcasing the brand's dominance in the travel market.

Intro

3min

Navigating the Dot-Com Boom and Travel Resilience

6min

The Evolution of Stock Trading: From Round Lots to Fractional Shares

3min

Cultural Perspectives on Equity and Strategic Travel Acquisitions

5min

Travel Pricing Evolution and Strategic Acquisitions

10min

Transforming Travel: The Impact of AI on Customer Experience

4min

Navigating Flight Delays with AI Solutions

7min

Navigating the M&A Landscape

21min

Navigating the Future of Travel Post-COVID

17min

Glenn Fogel, CEO of Booking Holdings, has built a $170B travel empire that includes brands like http://Booking.com, Priceline, Kayak, and OpenTable. Glenn shares insights into how Booking has grown into a global powerhouse, weathering challenges like tsunamis, wars, 9/11, and the COVID-19 pandemic. We dive into the strategy behind the transformative acquisition of http://Booking.com, which now drives 90% of the company’s revenue, and the key lessons Glenn has learned about M&A success. Glenn also discusses how AI could revolutionize travel, from automating customer service to creating seamless traveler-first experiences.

(00:00) Intro

(01:37) Overview of Booking Holdings

(02:31) Early Days of Priceline and Joining the Company

(03:33) Dot-Com Boom and Financial Challenges

(07:28) Travel Industry Resilience

(07:47) Cultural and Economic Factors in Travel

(09:17) Stock Splits and Employee Incentives

(13:34) Acquisition of Booking.com and Active Hotels

(24:20) Growth and Integration of Acquired Companies

(29:11) Artificial Intelligence in Travel

(30:57) Future of Travel and AI Integration

(38:54) The Greatest Acquirers in History

(39:16) Teamwork in Business Acquisitions

(40:48) Challenges in M&A and Regulatory Hurdles

(41:49) Patterns in Successful and Failed Deals

(46:06) Cultural Alignment in Mergers

(50:31) Brand Management and Integration

(54:14) Regulatory Environment and Smart Regulations

(01:00:11) Post-COVID Business Travel Trends

(01:08:24) Leadership Through Crises

(01:15:33) Technological Advancements in Travel

Executive Producer: Rashad Assir

Producer: Leah Clapper

Mixing and editing: Justin Hrabovsky

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About the Show

Logan Bartlett is a Software Investor at Redpoint Ventures - a Silicon Valley-based VC with $6B AUM and investments in Snowflake, DraftKings, Twilio, and Netflix. In each episode of The Logan Bartlett Show, we sit down with the people behind today’s most important startups and extract the tactics, lessons, and frameworks they’ve learned the hard way. Conversations span hiring to GTM, product, growth, fundraising and everything in between - collectively forming the ultimate playbook to make you a better CEO, investor or board member.

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The Logan Bartlett Show

EP 125: Glenn Fogel (CEO, Booking Holdings) Building a $170B Travel Empire: On AI, Acquisitions, and Shaping Travel’s Future

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Growth and Challenges of Booking Holdings

Acquisition Strategy and Execution

Impact of AI on the Travel Industry

Shifts in Travel Behaviors Post-Pandemic

Leadership Through Crisis and Opportunity

Remember Everything You Learn from Podcasts