Building a $170B Global Travel Empire: Glenn Fogel on Acquisitions, AI, and Shaping the Future of Travel
EP 125 of The Logan Bartlett Show: Untold stories from tech's inner circle
Glenn Fogel, CEO of Booking Holdings, has built a $170B travel empire including popular brands like Booking.com, Priceline, Kayak, and OpenTable.
In this episode, Glenn shares how Booking became a global powerhouse, weathering challenges like 9/11, wars, tsunamis, and the COVID-19 pandemic. We explore the transformative acquisition of Booking.com, which now drives 90% of the company’s revenue, and Glenn’s insights on M&A success. He also discusses AI’s potential to revolutionize travel, from automating customer service to creating seamless traveler-first experiences.
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✉️ Episode Memo
→ How AI Can Revolutionize Travel
Imagine a flight delay where AI rebooks your trip: finding a competing flight, updating your rental car, and even adjusting your dinner reservation. You wouldn’t have to juggle flights all 3 NYC airport or stress over notifying your dinner party because AI agents are helping you out. AI could handle everyone’s customer service requests instantly, replacing 3-hour queues with seamless solutions. While we’re not there yet, it’s an exciting glimpse of what’s possible.
→ Companies Are More Resilient Than You Think
In its early days, Booking’s stock plummeted below $1 per share, prompting Glenn’s mom to worry about bankruptcy. Today, it trades above $5,000. Surviving crises like 9/11, financial downturns, and the pandemic taught Glenn that every struggle strengthens resilience and just prepares you for the next one. In the end, travel always comes back.
→ Glenn’s Biggest Lessons on M&A
Booking.com’s acquisition is among the most successful in software history, generating 90% of the company’s revenue. Glenn highlights why most acquisitions fail and the key lessons he’s learned:
Trust Isn’t Guaranteed: Even with incentives, key people may leave after acquisition, making success a game of probabilities.
People vs. Assets: For people-driven businesses, leadership must justify premiums; for assets, it’s about the value left to “mine.”
Cultural Alignment is Key: Mismatched cultures, especially in international deals, often doom acquisitions. Aligning on values is essential.
⭐ Trailer
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