Glenn Fogel’s Journey to the Top
Glenn Fogel, CEO of Booking Holdings, didn’t start with a smooth path to success. He joined Priceline, a startup in 2000, just as the dot-com bubble was reaching its peak. Within a year, the stock price of Priceline plummeted from a high of $300 to less than a dollar, leaving many, including Fogel’s own mother, thinking the company had gone bankrupt.
Yet, Fogel stuck with it. Fast forward to today, and Booking Holdings, the parent company of major travel brands like Kayak, Booking.com, and OpenTable, is now a $23 billion-a-year powerhouse. Fogel’s leadership has helped the company navigate major global challenges like pandemics and travel disruptions. In the latest episode of Leadership Next, Fogel reflects on his unique career, business philosophy, and lessons from his own life.
The Early Days: From Trader to Priceline
The Dot-Com Boom and Bust
In February of 2000, Glenn Fogel was working as a trader, but his career would soon take a dramatic turn. He joined Priceline, which at the time was one of the most talked-about startups. Little did he know, the company’s stock would soon hit a drastic downturn.
“It was the worst timing possible. I quit my job as a trader in the last week of February 2000, and a week later, the Nasdaq peaked during the dot-com boom,” Fogel says. Within a year, Priceline’s stock price dropped drastically, causing panic throughout the company. “Even my mother thought the company had gone bankrupt,” Fogel jokes.
Despite the overwhelming odds, Fogel chose to stick it out, using his business acumen and smart acquisitions to help Priceline transform into the global brand we know today as Booking Holdings.
Building Booking Holdings
Fogel’s perseverance and forward-thinking strategy helped Priceline grow into one of the biggest names in travel. Priceline eventually evolved into Booking Holdings, which now includes a vast portfolio of well-known brands, including Kayak, Agoda, Rentalcars, Momondo, OpenTable, and of course, Booking.com.
By 2019, Fogel was appointed CEO, a role he would use to further expand the company’s reach in the global travel market, even in the face of seemingly insurmountable challenges like global pandemics, wars, and unexpected travel disruptions. His leadership during these times demonstrated his resilience and ability to adapt to changing circumstances.
Leadership Philosophy: Learning from Adversity
Overcoming Personal and Professional Challenges
Fogel’s career has been marked by his resilience in the face of challenges. At the age of 17, Fogel suffered a debilitating stroke that left him with speech and mobility issues. But he didn’t let that define him. Instead, he went on to graduate from Harvard Law School with honors just a few years later.
This early experience with adversity shaped the way Fogel approaches both his personal and professional life. He views setbacks as opportunities to grow and adapt. His ability to overcome obstacles — both personal and professional — has made him an effective leader who understands the importance of patience, perseverance, and flexibility.
Navigating Global Disruptions
As the CEO of Booking Holdings, Fogel has faced some of the most significant disruptions in modern history, including the COVID-19 pandemic, which decimated the global travel industry. In fact, travel was one of the hardest-hit sectors during the pandemic, with airlines, hotels, and travel agencies struggling to stay afloat.
But through Fogel’s leadership, Booking Holdings adapted quickly to the new reality, shifting its focus to meet the changing needs of travelers. The company found new ways to connect people with travel options during uncertain times, offering flexible booking policies and bolstering its digital platforms to make travel planning easier and safer.
The Secret to Stress-Free Travel: ‘Never Check a Bag, Ever’
Fogel’s Personal Travel Tip
One of the most personal and intriguing pieces of advice Fogel shares isn’t about running a multi-billion-dollar business. It’s about travel. He believes that the key to making your travel experience as smooth and stress-free as possible is simple: “Never check a bag, ever.”
While this might seem like a simple tip, it’s one that has helped Fogel navigate countless travel experiences over the years. According to him, checked luggage is a source of stress and wasted time, and avoiding it can make a world of difference when it comes to enjoying your trip.
“There’s no worse feeling than waiting around the baggage carousel, only to find out your bag is lost or delayed. If you can avoid checking a bag, you’re ahead of the game,” Fogel advises. He recommends packing light, prioritizing the essentials, and using carry-ons to speed up the travel process.
Adapting to Change: How Fogel Leads Booking Holdings Through Crisis
Pivoting During Crisis
Fogel’s leadership was truly tested during the COVID-19 pandemic, when the global travel industry came to a halt. With hotel bookings, flights, and reservations all dropping off dramatically, Booking Holdings faced a tough road ahead.
Fogel’s strategy involved prioritizing flexibility for customers and ramping up digital innovations to enhance the travel booking experience. Whether it was implementing risk-free cancellations or investing in new technologies to streamline the booking process, Fogel led the company through this difficult period with a focus on adapting to the rapidly changing environment.
Expanding and Innovating
Even in the midst of a global crisis, Fogel didn’t shy away from making strategic investments to further expand Booking Holdings’ reach. One of the most important moves was the acquisition of smaller travel-related companies that complement Booking’s core offerings, which helped strengthen the company’s position in a competitive market.
Fogel’s Leadership Style: A Focus on People and Innovation
Empowering Teams and Fostering Innovation
A key aspect of Fogel’s leadership is his commitment to fostering a culture of innovation within Booking Holdings. He believes that creating an environment where people are encouraged to think creatively is essential to the company’s long-term success.
“I try to empower the people around me to think big and make bold decisions,” Fogel explains. By trusting his teams and allowing them the freedom to experiment, Fogel believes that Booking Holdings can continue to lead the way in the travel industry.
Glenn Fogel’s Journey and Leadership Legacy
Glenn Fogel’s career is a testament to the power of resilience and adaptability. From his early days with Priceline, through the dot-com crash, to his current role as CEO of Booking Holdings, Fogel has weathered numerous storms and emerged as one of the most respected leaders in the travel industry.
His leadership has been defined by overcoming personal and professional challenges, focusing on innovation, and adapting to a rapidly changing world. And while Fogel has navigated crises from pandemics to travel glitches, he’s never lost sight of the simple joys of travel — like never checking a bag.
As Fogel’s career continues to evolve, there’s no doubt that his ability to adapt to change and focus on people and innovation will continue to guide Booking Holdings toward success.
