Technology and AI transform travel experiences, says Booking Holdings CEO

In a recent discussion, Glenn Fogel, the CEO of Booking Holdings, emphasized the changing dynamics of the travel industry. He noted that when demand exceeds supply, prices inevitably rise, which can sometimes lead to challenging market conditions. The travel industry’s evolution has sparked debates, with some believing that increased mergers could boost competition. Fogel also referenced the value of human travel agents, highlighting the personalized experiences they provide. However, he asserted that advancements in mobile technology and AI are now empowering travelers, offering them more immediate and tailored suggestions while they're at their destinations. This shift is viewed as an opportunity to connect better with consumers who prefer flexible, real-time decision-making rather than advance planning. He remarked on the importance of expanding supply in areas where competition is lacking, and showcased Priceline's use of OpenAI to facilitate more natural communication through voice actions, enhancing customer interactions. Fogel's vision is grounded in a forward-looking approach where the company aims to adapt and evolve to meet the changing needs of travelers, despite challenges faced in the past. His insights reflect a deep understanding of market forces and technological transformation in the travel sector.