Glenn Fogel, CEO of Booking Holdings, stated that constant innovation is the sole sustainable advantage in the travel industry. He dismissed the concept of a permanent competitive moat.
Booking Holdings integrates AI into trip planning and customer service. Priceline's AI trip planner, Penny, sees its usage double monthly. AI-driven customer service has reduced per-contact costs by approximately 10%.
Fogel expressed confidence in Booking's strategy of relentless reinvestment and adaptation, despite concerns about AI making travel-booking websites obsolete.
The company returned a record $4 billion to shareholders in the first quarter of 2026.
Fogel emphasized Booking's extensive network of 8.6 million alternative-accommodation listings. He noted its regulatory expertise as advantages that must be continuously earned.