While the FAANGs — Facebook, Apple, Amazon, Netflix and Google — dominate the daily news in technology, one East Coast behemoth seemingly flies under the radar. That would be Norwalk, CT-based Booking Holdings (NYSE: BKNG), which up until a few months ago was known as the Priceline Group. Booking Holdings is the parent company of a lot of services you might use to plan your vacation (and dinner): Booking.com, Priceline.com, Rentalcars.com, Kayak.com, Cheapflights and OpenTable. In short, Booking Holdings is the one-stop shop for vacationers.
Over the last decade, Booking Holdings’ stock is up more than 1,500 percent, making it one of the market’s top performers (along with the FAANGs).
But today, Booking faces tremendous competition in upstarts like Airbnb and other online companies such as Expedia, Trivago, and TripAdvisor. Booking Holdings is still dominating the online travel business with its focus on the overseas market. Recently, the company invested $500 million in Chinese ride-hailing firm, DiDi.
Almost two years ago, Glenn Fogel was named CEO of Booking Holdings. The 54-year-old veteran executive was in charge of global strategy and highly regarded within the organization.
“Glenn knows our global business inside and out, and he has been a key player in almost all of the major strategic initiatives for The Priceline Group over the last 16 years,” said board chairman Jeff Boyd in a statement. “He was a primary driver in key acquisitions including Active Hotels, Booking.com and Agoda.com, which have created strong growth opportunities for the Group and favorable returns for our shareholders.”
The HBS Club of NY will host Glenn Fogel to get an overview of the company and the drivers of the travel business, challenges & opportunities for the conglomerate, and leadership lessons.
Join us for this insightful discussion.
Please note that no refunds will be issued.
President and CEO, Booking Holdings
Glenn D. Fogel is Booking Holdings’ Chief Executive Officer and President, a position he has held since January 2017. He previously served as its Head of Worldwide Strategy and Planning. He was also Executive Vice President, Corporate Development, responsible for worldwide mergers, acquisitions and strategic alliances. Fogel joined the company in February 2000.
He was formerly a trader at a global asset management firm and prior to that, he was an investment banker specializing in the air transportation industry. He is a graduate of Harvard Law School and earned a Bachelor of Science in Economics degree from the University of Pennsylvania’s Wharton School.
Partner, Vici Partners
Lance Stuart is a partner at Vici Partners. He has over 30 years of consulting and operating experience, principally in the U.S., Japan and China. Clients span industries from cosmetics and consumer electronics to software, chemicals, insurance, airlines and telecoms. He has been an investor, co-founder, CEO, COO and board member of several companies in the U.S. and Asia. He began his career as a management consultant with McKinsey & Company in New York then transferred to Tokyo.
Lance earned a B.S. in economics and marketing, cum laude, from Boston College and an MBA from Harvard Business School (’78), where he was awarded two academic scholarships. He was raised in Tokyo and is an active volunteer in several non-profit organizations including the Harvard Business School Club of NY, the Harvard Business School Association of Orange County and as a Council Member on the U.S.-Japan Council.
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