Booking Holdings' CEO on How His Company Competes With Airbnb
You may remember it as Priceline.com and have a fondness for its 14 years of TV commercials featuring William Shatner.
But the company has morphed into Booking Holdings and just reported a surprising jump in travel bookings that pushed its stock up nearly 6.8 percent on Wednesday.
That increase was the biggest jump in shares of the company in over a year. And despite continued competition from the likes of Airbnb and hotel chain websites, CEO Glenn Fogel isn't worried.
“Travel is strong. And we’re offering a great selection, great prices, great service. So when you combine those two things together, that’s what’s driving the growth,” Fogel told Cheddar.
He said Booking.com’s variety of accommodation options all on one platform and its 24/7 customer service give it the edge over competitors.
Booking Holdings earnings, which came out on Tuesday, showed the company had a strong Q4 with $2.8 million in revenue, a 19 percent increase from the year before.
For the full interview, [click here](https://cheddar.com/videos/booking-holdings-on-improving-travel).
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Plenty of retailers and suppliers are reducing the variety of their offerings to focus instead on what they think will sell best. Many businesses have decided less is better, justifying their limited selection by asserting shoppers don’t want so much choice.
