Booking Holdings

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F500-2021-424-Booking Holdings

The American travel company operates several massively popular online travel platforms, including its flagship Booking.com, Priceline.com, Kayak.com, and OpenTable.

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F500-2020-210-Booking Holdings

Booking Holdings, which operates in more than 225 countries, owns travel booking sites Priceline, Kayak, Booking.com, Agoda, Rentalcars.com, and restaurant booking service OpenTable. The company's business has been significantly impacted by the coronavirus pandemic, with CEO Glenn Fogel saying he expects the travel industry recovery to take "years."

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Booking Holdings is a global provider of online travel and related services. Through its portfolio of brands—including Booking.com, Priceline, Agoda, Kayak, Rentalcars.com, and OpenTable—the company offers a marketplace for accommodations, flights, car rentals, and dining reservations. Booking Holdings operates in hundreds of countries and territories and offers services in at least 40 languages. The company wants to shape the future of travel by connecting travelers with seamless and personalized experiences.

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Booking Holdings (BKNG): Company Profile, Stock Price, News, Rankings

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Booking Holdings | Fortune

Booking Holdings (BKNG): Company Profile, Stock Price, News, Rankings | Fortune

John Kell

Booking.com’s CTO prioritized travelers when he started deploying gen AI tools. Now he’s focusing on employees too

/2025/04/16/booking-coms-cto-prioritized-travelers-when-he-started-deploying-gen-ai-tools-now-hes-focusing-on-employees-too/

Fortune Editors

Booking Holdings CEO Glenn Fogel wants to use AI to make it “easier for everybody to experience the world”

/2025/03/19/booking-holdings-ceo-glenn-fogel-leadership-next/

Jeffrey Sonnenfeld

Steven Tian

Five underrecognized, standout CEOs of the year 

/2024/12/31/underrecognized-standout-ceos-of-the-year/

Kristin Stoller

Booking Holdings CEO says the future of cheap flights is uncertain: ‘That’s like trying to predict the weather’

/article/booking-holdings-ceo-interview-fortune-500/

Booking.com's CTO prioritized travelers when he started deploying gen AI tools. Now he's focusing on employees too

https://fortune.com/2025/04/16/booking-coms-cto-prioritized-travelers-when-he-started-deploying-gen-ai-tools-now-hes-focusing-on-employees-too/?itm_source=parsely-api

From spontaneous backpacking trips to AI-powered, hyper-personalized itineraries, travel has undergone a radical transformation. In this episode of Leadership Next, hosts Diane Brady and Kristin Stoller sit down with Booking Holdings CEO Glenn Fogel to explore the future of travel. Glenn reflects on his early experiences navigating the world before smartphones, how AI is revolutionizing trip planning, and why personalization is key to the industry's evolution. He also discusses Booking Holdings’ rapid growth, its response to global crises like the Ukrainian refugee situation, and the industry’s potential next frontier—hypersonic travel. Plus, he shares insights on leading through uncertainty, the resilience of the travel industry, and why, despite a lifetime of global adventures, his favorite place to travel is home.

The Connected Trip: Booking Holdings CEO Glenn Fogel on the Future of Travel

Photo Courtesy of Booking Holdings; Graphic by Fortune

Leadership

Pat Geraghty, President/CEO Guidewell, Jeff Tarr, CEO, Skillsoft, Terry Rasmussen, President/CEO Thrivent, Glenn Fogel CEO and Director, Booking Holdings, Roberto Martinez, President, PepsiCo Mexico Foods

The Exponential Power Of Generative AI In Business Part 2

Uncategorized

How AI's Reshaping the Business Landscape

Pat Geraghty, CEO Guidewell, Jeff Tarr, Skillsoft, Terry Rasmussen, Glenn Fogel, Booking Holdings, Roberto Martinez, PepsiCo Mexico Foods

How are you thinking about incorporating this into your programs? Well, we're focused on corporate learning learning inside the enterprise a little different than Shag's model and we've been using A I for a long time. Generative A I a less long time, but we've been at it since before. It made the news. We believe that it is going to impact almost every knowledge worker job to some extent. And so that creates a tremendous imperative for reskilling and up skilling. And so it's changing what we teach and it's also changing how we teach. And when I say what we teach, when you look at learning inside the enterprise, most of it falls in the three buckets, leadership and business skills, technology training and compliance. And all three categories are being impacted because learners need to understand it and their employers need, need their employees to understand it. Our introduction to a generative Generative A I course had was four times at four times. The enrollment of the next most popular course of all time for us. Our new course and new learning journeys on prompt engineering, advanced prompt engineering, uh ethical A I generative A I for decision makers and leaders are are of great interest and generating a tremendous amount of, of usage. Um And in fact, just about every course we developed going forward, we're, we're actually asking before we begin production on a course is generative A I uh relevant to this subject area and making sure we hit pause before we move forward so that we're not missing an important new technology. As for how we teach, it's already being used to accelerate localization and translation because it's not just about the words, but it's also about giving it cultural context. And now we can do that for the first time using machine learning, using this gene A I technology. Uh We've been be testing a generative A I coach that is walking learners through actual virtual simulations. Now, a lot of the work we're doing is on guard rails and filters to make sure that we're looking out for bias and inaccuracies. But we can do that in our controlled environment. And we're uh we're about to move into a beta test with more than 50 large enterprise customers. And uh and then also I would say finally, uh we see the technology is having great promise for what's been the holy grail of online learning and learning in general, which is personalized learning at scale that adapts both the both the content and the assessments adapt to the needs and learning styles of the individual and we're not there yet. But this is turbo charging work in that direction and we're really excited about what we're seeing. Yeah, fascinating. Uh Terry Rasmussen, maybe you can uh comment on, on what's happening in the financial world. Happy to um let's see here. Hold on. So in, in financial services, I do believe that generative A I is a powerful tool and it has the potential to, to really transform, I think every business um in, you know, out there in financial services, I think the best use case for thriving is with our financial advisors and it can be used to, it's that co-pilot concept where it can be used to, to, to free their time and so that they can spend more time serving clients and giving great experiences. That's right. And we kind of think of um our advisors as being experts in head math and heart math and in head math, I think generative A I has just a huge potential to have offer that personalized plan if you will. But then it's our advisors that come with the heart mass and, and I think it will be years before generative A I can replace the heart mass because the heart mask doesn't always align with head mask. And so in heart mass, it's really what's the most important uh for this individual or this client that we're serving. And so I see it as, as again, an opportunity to really come alongside our advisors and, and as a copilot. Yeah. And Terry, how are you thinking about the issue of transparency when you're, when you're using the technology? Are you quick to tell the, that your customers that you're using it? Is that an important part of the trust equation? Oh, absolutely. You know, we, we own trust in the marketplace and financial services and so transparency is really critical for us and, and, you know, we, we just recently rolled out guidelines for the organization um similar to, to make sure that, you know, the use um that our use is appropriate. And so we've got kind of four guidelines at a high level. Uh first you went and out, leave it out. And so that really is the proprietary information, making sure that, you know, we're, we're sensitive to that and we are retraining. I agree. I think it was Chris who said that, you know, this, you should always protect your proprietary information, but it's, it's good to remind people of that. Um We also believe trust is earned and not implied. And so again, you owning trust in the marketplace, it's critically important that, that we earn that trust and continue to earn that trust. Um and then scan and review before you use. Uh that is something that we're, we're telling our workforce, make sure that you're understanding the use. And then always remember our trusted reputation. It's the most important asset we have in the marketplace is that trusted reputation. Yeah, thank you uh uh Glen Vogel II. I know you've been using A I for a long time in your bookings business, but generative A I is a different animal. Uh uh where, where, where do you see that playing into your business? Well, what it is doing or what it will do is get us much closer to what our vision is of what I call the connected trip. We all know frustrating is to plan your travels. And we all remember the old style old school travel agent who is a human being, knew something about you knew kind of what you could afford. We do it all for you and everybody when you are putting together your travel now using a digital method, it is frustrating. It takes forever. I wish somebody else would do it for me. Well, that's what Geneva is basically going to do. You're gonna have that conversation again. Always. It's gonna be with an A I agent and it's going to personalize as was pointed out earlier. How important is the personalization really being the focus on an individual what they may like? And I can give a little example of every single um search result shows static content in travel. That is the same for everybody. I have to like going to a gym. I want a hotel as a gym. My wife likes high tea in London. Imagine that when it is going through the process of what we're trying to discover it is customizing the content describing which hotels have these things for my wife and I versus somebody else who's interested in something else. We'll see different content that's really going to be something fantastic. And then of course, men, customer service, we all know the frustration of customer service. It's very difficult generative A I is going to improve this hugely, being able to know what the problems are possibly seeing what they may be before they happen and being able to respond much faster than we currently are able to do, which would be wonderful. And how quickly are you implementing Glenn? So we have two check T BT plugins. We have kayak an open table are already, that's how that's in the wild right now. Um We are, you know, moving methodically and carefully want to do everything in a responsible way and of course, that trust issue in the financial area, certainly true. But it is also important in travel. Nobody wants their travels screwed up. So we have to be very careful in that to make sure that we don't ruin the trust that we've built over many, many, many years. Um Roberto Martinez, can I bring you into this conversation? Would love to. Yeah. Yes, of course. Good morning. Everybody would, would love to hear how it's uh uh there's been a lot of talk about the application of this technology and marketing, would love to hear about that or other applications that you think are promising. Yeah, in our case, uh I'm, I work for Pepsico in Mexico so that everybody knows who I am. Um in our case and, and what Joe said at the beginning of the conversation right now is more around. How do you make sure that we are uh secure in terms of the information that we use there and, and just be careful with the teams on, on what they put out there. A couple of things. You know, we, we think this obviously will, will help us be more efficient, reduce costs and obviously be closer to our consumers and our customers. Um Some of the things that we're looking at is, you know, um product development and new flavors, a new propositions to the consumer, but also using it in our case, um uh specifically for more things around the sales cycle. Um in terms of, you know, we have a lot of mom and pop stores that we serve in Mexico, about 800,000 stores we serve uh here. So how do we, you know, make sure uh that we can have the right assortment, uh the right velocities, what is selling here, what is not selling here and then build that into an E I engine so that we can um a little bit, you know, have a, a better, better service to the customer, better service to our, to our sale sales rep. Um The other part is I would say is, um you know, as I, as I said before, connecting to the consumer, that's a little bit, you know, just starting. So not, not out of there. And then, you know, as somebody said before, we wanna make sure that we're responsible, how we use this and our teams are responsible and how we're using this. So a little bit of latitude but within a framework, uh just because we've, we've also seen some examples of other companies just, you know, don't have. Uh and we're all starting to build, let's say internal policies if you want, but just making sure that our teams uh do not put, you know, um you know, uh confidential information out there because then it's, it's already out there. So that's a little bit of the, the conversation right now in inside of principle.

The Exponential Power of Generative AI in Business Part 1

The Exponential Power of Generative AI in Business

Pat Geraghty,CEO Guidewell, Jeff Tarr, CEO, Skillsoft, Terry Rasmussen, Thrivent, Glenn Fogel, Booking Holdings, Roberto Martinez,  PepsiCo Mexico Foods

Chat GP T has enjoyed this sort of uh stratospherically fast adoption in the consumer world, fastest adoption of any new technology in history. I can't keep up with the numbers myself, but it's been kind of instantly omni uh present but big business as far as I can tell from various conversations I've had and from some new polling data we have is still being kind of cautious, not about A I generally uh predictive A I data analytics. That's all moving ahead but about generative A I and how to use generative A I in business. I assume you're having a similar experience to what I'm having. And if so, I wonder if you could explain why the caution. Yeah, we are allen. I think it's a great, it's a great question, a great observation as to what's happening. Um There's no question, generative A I and, and particularly Chat GP T is having a moment and that, that moment's been unfolding over the last few months. And I think the reason big businesses are cautious is the same reason that it's having a moment which is, um, largely people were awestruck about the capability that they were seeing and the accessibility of A I tools in a very, very different way than what has been the discussion over the last few years. And those in the tech community know that that didn't happen overnight. And this investment in this capability was being built over time. But for many people who were not close to this technology, suddenly you had this, this moment that unfolded as people watched the capability of generative A I to deliver really, really thoughtful responses, sometimes fully accurate, sometimes not fully accurate. And it, and it opened up this question about, well, how do we use this? Clearly, there's power here. How do we use this the right way? How do we use it in a responsible way? And every single client I'm talking to is trying to figure out how to go fast but how to go fast in a responsible way right now. And so Joe, if you had to sort of pinpoint the three or four things that are causing that caution, say, yeah, we gotta make sure we work out ABC D, what would you, what would you say? Well, I think one is clearly um confidentiality in the proprietary information. How does that actually work in an environment that is by its nature has, has elements that are open. And so everybody is asking the question if I'm really going to use it for my business, I wanna put business data in there. But if I put business data in there and it's in the public domain that, that doesn't work out for any of us. So that proprietary data question is, is clearly top of mind. The second one is, what am I using it for? And I'll, I'll, I'll describe it as the right use for the right business case, the right use cases. And I think because it, it feels very new to a lot of people. They're not really sure what the applicable use is, they see the power, but they're not sure how to direct that power to the right things. And that, that leads me to the third piece, which is how do I prepare my people for what's happening? Um You see all kinds of estimates of what the implications are going to be on productivity, on the ability to take tasks off of people's plates. Well, that converts into people's jobs and that causes large organizations to take a breath and figure out how that all plays out. So preparing people for the change and in our perspective, and many of you probably saw the PWC announcement. We, we think that comes down to training people to take advantage of the technologies because we know that if you don't prepare people for the technology, it's coming anyway. And so part of the responsibility we see for any organization, but certainly big employers is to help your people prepare for the changes that are coming. Yeah, that's good. Thanks. Uh Chris. Let me uh let me turn to you. I wanna go into each of those uh things that Joe mentioned. But I, but I, but I'd love for you to start to just, you have these conversations every day. I would imagine. In fact, I doubt you're getting much sleep these days. Uh But uh I, I wonder if you could just talk about why this moment is so important to business. I think we see the transformative potential of A I and, and it's, it's not only transforming the tech landscape, but it's gonna transform business, it's gonna transform much of what we do as humans. And, and this, as you mentioned, differentiating what we've known as A I, which is more around machine learning and predictive technologies from what we've seen to where we are today, which is really the generative A I era, which is truly changing many, many things. And, and you know, what we see is really a, a bifurcation. As you, you know, Joe, I think well stated some of the, the ways in which larger organizations are approaching A I, you know, certainly in the tech landscape and, and, and the start up world. Um you know, we've seen literally thousands of start ups in the last six months move into this space. Uh There's just a tremendous amount of speed and innovation happening. You know, I happen to sit here in San Francisco and there's literally a hackathon happening nearly three or four times a week and it, it's just the, the amount of energy going into the space is palpable. Uh, and it's, it's, you know, we, we see the innovation opportunities. You know, there's, there's, you know, companies going after marketing, there's companies going after customer support opportunities. Uh There's a lot of tooling, focus areas, uh, speech recognition, you name it and it's just, there's, there's just a number of different approaches that, that organizations are taking and, and I wouldn't say that all large companies are, are being cautious, you know, for example, um you know, we've already been working with companies like Carmax as an example that are, that are using generative A I as part of their uh review process and making, you know, really being able to synthesize the information better for their buyers. Uh Epic is another one in the health care software space that's uh that's been working with us on, on A I and certainly PWC and Joe and his team uh are working with us in this, in this like is in this regard as well. So we, we are seeing movement here uh in companies of all sizes. Can you talk a little bit about the first issue Joe raised which is protecting proprietary data, the confidentiality. Uh uh there was a story this morning that says Apple has told its people to not use chat GP T. Now that may be because they have an alternative technology that they want to adopt. But in general, I find a lot of business leaders worried about mingling their proprietary information with the public information that's in these giant large language models. Proprietary information is certainly got a lot of value. And we, that's a common conversation to be having right now with any organization is. How do I make sure that I have good protections, good safeguards around my information. I will just state for a moment by the way, that, that, that was true before. Generative A I, that was, there was a lot of concern in most large organizations around uh protecting their data. But I think that's more, you know, I think most or organizations are trying to understand in the era of generative A I and if I'm gonna use generative A I, how do I make sure, how do I ensure that my information is well protected, it's utilized effectively. And so as I think Joe said it, well, most organizations are just trying to understand exactly how that's gonna work. And that's something, you know, we've, you know, we spend a lot of energy on that with our customers and helping them understand and there's different methodologies that you can use. You'll hear, you'll hear terminology like fine tuning the model. Uh you'll hear terminology like grounding the model. Um There are these are different ways in which organizations can use um generative A I models, large language models uh to, you know, on their own information without passing that information back to the, to the base level model itself. But it's a solvable problem. In other words, it's absolutely a solvable problem. And, and then the other, the second, uh, issue that Joe raised was the, in a way the enormity uh, of potential for these models. I think people have a hard time figuring out. Where do I start? Where's the highest value? What's the, what's the first place where I should apply this? And how, how do you, uh again, I'm sure you're having these conversations every day. How do you walk companies through that uh conversation? They're, they're absolutely, there's absolutely a progression to this, that, that organizations I can think about. I think at the, at the, at the base level, if you will, what I always tell people, certainly leaders is the first thing you can do is just familiarize yourself with using it. That's one of the great things about having, you know, bing chat or chat GP T and some of these tools available in the market. If anyone can use it, a leader can use it. You know, Alan, you could use it to develop the questions you might ask us today. Perhaps you've done that. I did. Yeah, these are not my questions, but you're doing great. So keep going. Uh And, and that, you know, that's a, that's a, just a great way to familiarize yourself with some of the ways in which um these products can work. And then II I think from a, from a productivity perspective, you know, we've approached this by saying the first step is really these co pilots. You know, the first product we brought to market was something called github co pilot. It's a tool to help developers with their co you know, writing code. It, it works alongside the developer, uh the engineer and we're bringing that co pilot capability to a variety of different applications, whether it's Outlook or Word or Excel uh powerpoint. Uh You can obviously we, we're even bringing it to, to cyber security. That was a topic you brought up earlier to help uh those who work in your security operations center to be more effective at their role. So the first, the first step in our in our approach is product activity, bring a co pilot along with you. It'll make your knowledge workers more effective, help them get up to speed quicker on topics. And it's like it's like having this really, really smart assistant who can help you do many things uh in a very short period of time without you having to go out and research large amounts of information. And then from there, you can see how um ultimately you can use this in customer facing operations, you know, customer support category that we believe is gonna have a lot of application for generative A I I think it's an there's opportunities there to provide even better experiences for customers. And then I always advise organizations to think about the long run, which is what's the new thing we can do? What's the new business model we can create or product that we can bring to the market? Uh That's something that should be on everybody's radar screen doesn't have to be today, but it's something you should be thinking about over the long run. Do you on these co pilots or are, are you uh thinking about developing industry specific co pilots, uh role specific co pilots? How, how far will Microsoft go with that? So through nuance, for example, which is a uh a company we bought last year, we're bringing some of the same co pilot capabilities into the health care space through assisting physicians. Uh We work, we'll be working with partners like PWC as an example to go into several industry verticals. Uh So yes, absolutely. We believe that co pilot model is going to be applicable to a variety of different industries. Much of that will work with partners to bring to bear because we're, you know, Microsoft obviously cuts across so many different spaces but and this is where expertise of different partners and different organizations we work with becomes I think really critical to developing the right tool set.

Glenn Fogel says despite recession worries and financial crises, there’s “pent-up demand” for travel 

Booking CEO: Travel will be last expense cut in a downturn

Glenn. So great to see you to talk about what's going on in the travel business. And you recently reported revenues at your company booking holdings that revenue surged 56% in the past year. Everywhere you look, travel is booming. What's going on. Yeah, I know we are very pleased with those numbers. $17 billion of revenue. A real uh something that we, we, we didn't know when the pandemic was going to end. But certainly it seems that we are beyond the pandemic era and people had a long time where they wanted to travel but they couldn't travel. And then once people felt it was safe to travel, once government stopped their restrictions, everybody wanted to travel at once and almost, but there are some areas not quite as fast, Asia, a little bit slower, but it's coming back to now. Do you see travel continuing to boom. One of the things I would say is look, we've been through a lot recently. Well, one thing that we've all learned is that things can change very rapidly right now. We're very positive on travel. We talked about it in our earnings call a few weeks ago we talked how well January was and how optimistic we were. Now just recently, we see financial crisis in the US with some banks having some issues, we see a bank in Europe having a problem. And people have been saying maybe there's a recession on the horizon. What's really puzzling is that every day we're hearing news and bad news about a recession, inflation and about stock prices falling. Why are consumers still booking trips paying high prices for airline tickets or for hotels? It looks like a disconnect, doesn't it though, Suzie? The reason I think really is that pent up demand for so long? So many people wanted to travel so bad and they couldn't and they have a lot of traveling still to do. Maybe they won't do something else but they'll do their travel. What about China? It's going to open up for business. What could this mean for, for your company? Do you see more people booking trips to China? Look, we'd like to recover. We'd like to get some of that business back. Nobody's really sure how fast that's going to happen though. It's going to come back. Absolutely. And I think it's going to come back slower than a lot of people have been expecting. Tell us a little bit about connected travel booking is best known for booking hotels. But now you've gone beyond that, booking flights, arranging airport transfers, arranging for sightseeing experiences. How are customers responding to this? Service. Well, we call this our connected trip and we're building it out because we know how frustrating it can be for a consumer when you're traveling, having to deal with lots of different vendors. And if something goes wrong, having to make multiple calls, we know that's not the best way to travel. We know tying it all together into one seamless, frictionless way. That would make life much easier. That's why we're building out this connected trip. But to be perfectly honest, we're still very early on it. Well, you're sort of acting like a travel agent. But how is your service different than dealing with a, a traditional travel agent and having a connected trip? I want to have all the personalization and all the great relationship that I had with that old style human travel agent. But I want technology to make it even better in terms of what the best prices are, we should be able to come up with what the best price are. So I want all the part of the beautiful part of that human being by one done through technology and that's what we're working towards. You're also now offering bookings for homes and apartments when people are traveling. But when people think about renting a home or apartment, they think airbnb. So what does it take to beat the powerful and successful business of Airbnb? You know, it, it, it's kind of funny because um what you just said is so true of everybody in America. Now, we are an extremely global company. A lot of people don't know that, but, you know, we had over 300 offices around the world. We operate almost every country in the world in terms of where we can put somebody. If somebody in Europe is looking for a home or an apartment or a villa, they'll say booking dot com in the US. You're right. They'll probably say airbnb or well, more and more people are beginning to think of booking dot com as we continue to build up our inventory in the U. Si Am very confident that given the strength we have in that sector, this is what we call alternative accommodations, given the strength we have that in other parts of the world. There is no reason we shouldn't have as competitive and offering in the US as we do everywhere else. And I am very, very uh conscious of how important it is to have. Every single accommodation is available to a consumer, Glenn. You talk a lot about the importance of travel's role in climate change. You've been a strong advocate of protecting the environment and you also say that travel is a force of good because it connects people and cultures. But how do you reconcile the fact that airlines are big polluters and that undermines the impact of travel as a force for good. What do you say to that? And we understand that the industry does have a problem in terms of emissions and not being as sustainable as it should be. And we know that the suppliers, the airlines hotels are working that way, we're doing our part too. So in examples of flights on kayak, for example, there's actually a meter, you could do a way to find out how much in terms of emissions does the flight you're thinking of taking actually emit and that way you can choose flights that have less emissions. That's a great way for consumers to help out. But another way is our, what we call our travel sustainability badge with our accommodation partners. Over 400,000 partners are part of this and what they're doing is they do things in their business to make it more sustainable. And we then on our site will show that these properties are doing their part to be more sustainable for consumers who want to choose to go sustainably, they'll see those hotels or homes or whichever type of accommodation and they'll choose those and that will help incentivize other properties to be more sustainable. Well, you've written many op ed articles urging the travel industry to decarbonise. I'm just wondering to what extent are you getting through to business leaders, travel companies, even travelers. Are they doing enough? Well, absolutely. Everybody I think in the industry recognizes that there is a problem. Some people are doing more efforts than others. That's true. But when I talk to the CEO S of the major airlines, they are trying to do it when I talk to the CEO S of the major hotel chains, they're doing their part too. What's interesting is the consumer, consumers talk about how much they want to travel sustainably. I'm not seeing them using their wallets yet to prove that that is really true.

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