The Logan Bartlett Show EP 125: Glenn Fogel (CEO, Booking Holdings) Building a $170B Travel Empire: On AI, Acquisitions, and Shaping Travel’s Future
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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.
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Priceline's Journey
- Glenn Fogel joined Priceline one week before the dot-com peak in 2000.
- Priceline's stock dropped significantly, but has since grown over 800 times its lowest point.
Travel's Economic Tailwinds
- Travel spending increases with wealth, reflecting a shift from material goods to experiences.
- The travel industry benefits from an aging population being replaced by digital natives.
Booking's Acquisitions
- Booking Holdings acquired Active Hotels in 2004 for $165 million, its first acquisition.
- A few months later, they acquired Booking.com for $135 million, merging it with Active Hotels.