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