I’m in a different place. I don’t speak the language. I don’t know anybody. I got to figure it out. And it just opened up my eyes to the world. And ever since then, I’ve loved to travel. I’ve been to a bunch of places. I’ve enjoyed it. I’ve enjoyed the people, the culture, the food, everything about it. And so that really started it for me, that first trip to Spain.
Brady: And how do you think that has influenced your approach to leading a global company like Booking Holdings?
Fogel: Well, I think that, for any company that’s dealing with people in different countries, different cultures, different languages, different ways of doing business, it’s important to have an understanding and a respect for those cultures. You can’t just go in and say, “We’re going to do it this way because we’re from America.” No, you’ve got to understand what’s going on, and you’ve got to respect the way people do things. And so I think that that understanding, that initial understanding that I got from that trip to Spain, has really helped me in my career to respect and understand the people I’m working with and the cultures that we’re dealing with.
Stoller: And Glenn, you’ve been in the C-suite for a while now. What advice do you have for others who are looking to make it to that level?
Fogel: Well, I think the most important thing is to be open to learning and to be open to new experiences. You’ve got to be willing to take risks. You’ve got to be willing to be open to new ideas. You’ve got to be willing to learn from your mistakes. And you’ve got to be willing to grow. And I think that that’s really important, because if you’re not willing to take risks, if you’re not willing to try new things, if you’re not willing to learn from your mistakes, you’re never going to grow. And so I think that’s really important.
Brady: Thank you so much, Glenn, for joining us today on Leadership Next. It’s been a pleasure talking to you.
Fogel: Thank you so much for having me. It’s been a pleasure.
Brady: And thank you to our listeners for tuning in. We’ll see you next time on Leadership Next.
Fogel: Yes, she does. And I appreciate that she did end up booking with us. That’s what really matters in the end. Booking through our platforms helps support our business and allows us to continue providing these services to travelers around the world. But what we’re seeing more and more, and I think COVID has accelerated this, is that people want to experience things that are unique to them. They want to have a personalized experience. So, it’s not just about where you’re from or your income level, it’s about what you value and what you want to get out of your travel experience. And that’s where AI and technology can really come in handy to tailor recommendations and experiences to each individual traveler’s preferences and needs. It’s about understanding the nuances of each traveler and providing them with a truly customized and memorable journey. The conversation continues as they discuss challenges in the travel industry, including airport infrastructure, perceptions of air travel, and competition with platforms like Airbnb. Fogel emphasizes the importance of treating customers as individuals and improving the quality of their product before focusing on marketing efforts. They also touch on the unpredictability of crises like wars and pandemics, highlighting the need for agility and adaptability in the industry. Despite these challenges, Fogel remains optimistic about the long-term prospects of the travel industry.
Brady: Yeah, it’s risky.
Fogel: So, you know, it was an interesting time, and it was an interesting experiment. But, you know, one of the things that I think we’ve learned at Booking Holdings is focus is really important. You know, and it’s not that we can’t do different experiments, but we want to make sure that we’re really focused on what we’re doing, and we’re doing it well. And so that’s one of the things that I think we’ve learned over time, is that, you know, trying to do too many things at once, you’re not going to be successful at all of them. So focus is really important.
Stoller: And you had the advantage of being part of a company that was very well-capitalized, so you could afford to stick it out and be patient.
Fogel: Absolutely. You know, when we were at that low point, we had a lot of cash in the bank still. We were always profitable, even though the stock went down. We had a lot of cash in the bank, so it wasn’t like we were in any kind of financial trouble, but the stock was in a disaster. But we had time, and we had the ability to really refocus and come up with what we need to do. And that’s what we did. And that’s what we continue to do, is to make sure that we’re focusing on the right things and doing them really well.
Brady: So one of the things you must have focused on is brand, because Booking.com is a brand that I think pretty much anyone who’s ever traveled has heard of. And whether they’ve used it or not, they know it’s there. How do you build a brand? How do you maintain a brand over time, especially in a competitive industry like the travel industry?
Fogel: Well, it’s a good question. And I think the first thing is, obviously, you have to have a good product. You have to have a good service. And you have to be reliable. You have to be trustworthy. You have to have a good reputation. And we have all those things. And we have a lot of people who really work hard to make sure that we have those things. But once you have those things, you have to make sure that people know about it. And you have to be able to get that message out there. And that’s something that we work hard on all the time, is to make sure that people know about us, and they know what we stand for, they know what we do, they know what we’re good at, they know what we can help them with. And that’s something that we continue to work on all the time.
Stoller: So what’s the next step for Booking Holdings? What’s the next big thing that you’re focusing on?
Fogel: Well, there’s a lot of things that we’re working on. One of the things that we’re really focused on is technology. We’re really investing a lot in technology, and we’re really trying to make sure that we have the best technology out there, that we have the best products, that we have the best services. And that’s something that we’re really focused on. And we’re also really focused on customer service. We’re really trying to make sure that we provide the best customer service out there, that we’re really there for our customers, that we’re really listening to what they need, that we’re really helping them with what they need. And that’s something that we’re really focused on as well.
Brady: And I’m sure you’re keeping an eye on the competition as well. How do you stay ahead of the curve when it comes to your competitors?
Fogel: Well, you know, we always try to be ahead of the curve. We always try to be innovating. We always try to be coming up with new things, trying new things, experimenting. And that’s something that we continue to do. And that’s something that we’re really focused on, is to make sure that we’re always one step ahead of the competition, that we’re always coming up with new things, trying new things, experimenting, and really trying to make sure that we’re providing the best product and the best service out there.
Stoller: Well, Glenn, thank you so much for joining us. It’s been a pleasure to talk to you and learn more about Booking Holdings and your journey there. Thank you.
Fogel: Thank you. It’s been a pleasure. Thank you for having me.
Brady: And thank you for listening to the Playbook Podcast. I’m Brady, and that’s Stoller. We’ll see you next time.
Fogel: I think it’s always going to be a bit of a push-pull relationship. It’s natural for companies like Marriott and American Airlines to want to incentivize customers to book directly through them to avoid paying fees to online booking platforms like ours. But at the end of the day, we provide a valuable service to both customers and businesses by connecting them and making the booking process easier. So while there may always be some tension, I believe there is a way for us to work together and continue to grow the travel industry as a whole.
Fogel: Well, that’s the thing, you know, I’ve learned that if you’re going to stay for a week, you can stay for a month. You just need to know where the laundry is, right? So I go, I’ll stay a month, but I’ll stay a week’s worth of clothes, and I’ll just get it washed. I mean, that’s the biggest thing. I mean, the worst thing, by the way, is if you’re on a long trip and you get your bag lost. Now you’re wearing the same clothes for the next four or five days, that’s hard. Anyway, so home is the best place to go, but I do like to travel. You know, I like to go to new places, and there’s so many places I haven’t been to yet. So it’s interesting, and I like to experience new things, new people, new cultures. I mean, that’s what’s so great about being a traveler, right? You get to experience all these new things.
Stoller: Absolutely, absolutely. Well, thank you so much, Glenn. It’s been a pleasure having you on the show.
Fogel: Oh, thank you for having me. It was great talking to you guys.
Brady: Thank you, Glenn.
Stoller: Thank you so much. And thank you to all of our listeners. This has been another episode of “Travel Unraveled.” We’ll see you next time. Safe travels, everyone.
Brady: They just go with the flow.
Fogel: Yeah, they just go with the flow, and then at some point, they look back and they go, “Gee, I’m not really happy with where I ended up.” And I think we’re all fortunate to be able to have choices in life, and to be able to make decisions. So don’t take that for granted.
Stoller: Absolutely, and it seems like you’ve had quite the journey yourself, with all the ups and downs, but you’ve come out on top.
Fogel: Yeah, I feel very fortunate. And I think a lot of it is just being open to opportunities and not being afraid to take risks. Life is short, you never know what’s going to happen, so you might as well make the most of it.
Brady: Well, thank you so much for sharing your insights and experiences with us. It’s been a pleasure talking to you.
Fogel: My pleasure. Thank you for having me. And remember, always travel, explore, and make memories. That’s what life is all about.
But it doesn’t mean that the people who are affected by it don’t feel hurt. And so, what I think about leadership, is that you have to lead with an open heart, as you said. You have to lead with empathy. You have to understand that the decisions you make impact real people’s lives. And so, when you’re making those decisions, you have to think about how can you do it in the most humane way possible? How can you support those people who are leaving your organization and help them transition to the next phase of their life? And so, I think that’s really important, and I think that’s something that is missing in a lot of leadership today. It’s this idea of empathy and compassion for the people that you lead. And I think if we can bring more of that into the world of leadership, we can start to move past this idea of vilifying the other and start to really come together as a global community.
Brady: Absolutely. I think that’s such an important point. And it’s something that we need to keep in mind as we move forward in this ever-changing world. Thank you so much for sharing your insights and your experiences with us, Glenn. It’s been a pleasure talking to you.
Fogel: Thank you, Brady. It’s been a pleasure talking to you as well.
Lebih baik untuk semua, masyarakat kita menjadi lebih baik dengan ini, ini Adam Smith, persaingan ini. Semua baik, tetapi Anda tetap ingin memperlakukan orang dengan baik, terutama ketika bukan kesalahannya, secara harfiah. Mereka tidak melakukan sesuatu yang salah. Dan jadi ketika Anda melakukannya, pastikan Anda memperlakukan orang dengan hormat, perlakukan mereka dengan baik, dan tentu saja jangan pernah menunjukkan—jangan pernah bahagia, jangan pernah tunjukkan kegembiraan atas seberapa banyak Anda memotong orang. Dan saya melihat itu kadang-kadang sekarang, tetapi saya bertanya-tanya, apakah mereka pernah dipecat?
Stoller: Itu cara yang bagus untuk merumuskannya. Nah, Glenn, saya ingin mengakhiri di sini dengan beberapa pemikiran ke depan. Jadi, apa yang membuat Anda bersemangat? Apa yang akan terjadi selanjutnya untuk Anda, dan apakah ada yang tidak kami tanyakan yang ingin Anda bagikan kepada kami?
Fogel: Nah, yang menarik adalah perubahan teknologi ini, seberat apapun itu akan terjadi pada begitu banyak orang, kita sebagai masyarakat, akan jauh lebih baik. Dan saya tidak hanya berbicara tentang perjalanan menjadi jauh lebih mudah. Ya Tuhan, saya tahu itu frustasi, karena saya mendapatkan email. Saya tahu, percayalah, saya mendapatkannya. Saya tahu. Itu akan jauh lebih baik. Orang hanya—itu akan damai. Bisakah Anda bayangkan, dalam waktu yang tidak terlalu lama, Anda tidak akan perlu menunggu di telepon untuk berbicara dengan petugas layanan pelanggan jika ada yang salah?
Stoller: Itu impian saya.
Fogel: Benarkah, bukan? Apa, bukan begitu? Kita akan memiliki itu sepenuhnya dan dapat benar-benar menunjukkan kepada Anda apa yang Anda inginkan dan memilih itu. Semuanya indah, tetapi mari kita bicara tentang apa yang sebenarnya akan dilakukan teknologi untuk kita. Pikirkan tentang peningkatan dalam bidang kedokteran yang akan dilakukan. Pikirkan tentang kenyataan bahwa di masa depan, pada suatu saat, tidak ada orang yang akan mendapat dokter yang datang [dan mengatakan], maaf, kami melewatkan itu dalam mamogram Anda terakhir, karena AI akan mendeteksinya, dan ada begitu banyak hal lain. Lipatan protein—kesempatan-kesempatan begitu besar sekarang, itu akan menjadi indah. Sekarang, saya mengerti orang-orang mengatakan, ya, tetapi bagaimana dengan ancaman? Karena, ya, teknologi juga bisa menjadi ancaman. Hadapilah kenyataan, orang gua pertama, Anda tahu, menemukan seperti, “Oh, saya punya klub ini. Ini sangat baik. Saya bisa memukul hewan ini. Kita bisa makan malam yang luar biasa. Atau saya bisa memukul orang itu dan mengambil istrinya.” Klub itu…
Stoller: …suka kreativitas di sini…
Fogel: Klub tidak memiliki moralitas, baiklah, itu siapa yang menggunakannya. Jadi saya mengerti orang-orang mengatakan mereka khawatir tentang bagaimana teknologi dapat digunakan untuk, mari kita sebut, cara-cara jahat, tetapi saya optimis bahwa kita akan menggunakannya lebih untuk kebaikan, dan itulah yang membuat saya optimis.
Brady: Saya seorang optimis.
Fogel: Saya juga.
Brady: Jika saya hidup sampai 150 tahun, semakin banyak negara yang bisa saya lihat.
Fogel: Tepat, itulah yang kita butuhkan. Kita perlu ini sehingga kita bisa melakukannya.
Brady: Ayo bepergian. Terima kasih telah bergabung dengan kami.
Stoller: Terima kasih, Glenn.
Fogel: Terima kasih banyak telah mengundang saya.
Brady: Leadership Next disunting oleh Nicole Vergalla.
Stoller: Produser eksekutif kami adalah Adam Banicki.
Brady: Produser kami adalah Mason Cohn dan Ceylan Ersoy.
Stoller: Tema kami oleh Jason Snell.
Brady: Produser studio kami adalah Natasha Ortiz.
Stoller: Leadership Next adalah produksi dari Fortune Media.
Brady: Saya Diane Brady.
Stoller: Dan saya Kristin Stoller.
Brady: Sampai jumpa lain waktu.
Episode Leadership Next diproduksi oleh tim editorial Fortune. Pandangan dan pendapat yang diungkapkan oleh pembicara dan tamu podcast hanya milik mereka sendiri dan tidak mencerminkan pendapat Deloitte atau personelnya. Deloitte juga tidak mengadvokasi atau mendukung individu atau entitas yang ditampilkan dalam episode.
Cerita ini awalnya muncul di Fortune.com
Hello! How can I assist you today?