Glenn Fogel, who has been with Booking.com for 25 years, indicates a significant shift in travel booking towards online platforms, making traditional travel agencies near obsolete. Under his leadership, Booking Holdings is poised to adopt AI, enhancing the role of travel websites rather than diminishing it. Fogel's strategic pivots have been profitable; the company's stock is close to peak levels. Reflecting on his past experiences, he highlights the shift from a complex pricing model to one that empowers consumers with transparency in hotel bookings.
Through this transition, he says, travel websites aren't going anywhere; indeed, he's planning for them to be more essential than ever.
It was 1999 and the dot com boom was happening, and I was a trader at Morgan Stanley asset management.
We noticed that people wanted to book their own hotel knowing what hotel they're going to get, instead of the name-your-own-price model.
It's working with investors; Booking Holdings stock is near an all-time high.
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