Booking.com CEO on Working With Competition to Become Full-Suite Concierge
*By Max Godnick*
Booking.com is moving beyond its namesake.
The travel giant ($BKNG) is quickly diversifying its portfolio by investing in and acquiring a variety of ride-hailing, courier, and experiential travel companies. Most recently, it bought a [$200 million stake in Grab](https://skift.com/2018/10/29/booking-holdings-invests-200-million-in-grab-as-ridehailing-becomes-more-strategic/), a Southeast Asian ride-hailing and food-delivery service.
"I think in travel, it's quite unique, because many companies do need each other, because the trip of somebody requires many companies to make that work," Gillian Tans, CEO of Booking.com, told Cheddar's Alex Heath at the Web Summit in Lisbon, Portugal.
The Grab investment comes on the heels of Booking's [$500 million stake](https://techcrunch.com/2018/07/17/booking-didi-500-million/) in the Chinese ride-sharing company Didi Chuxing in July.
Last Spring, parent company Booking Holdings [acquired FareHarbor](https://skift.com/2018/04/19/booking-holdings-buys-activities-distribution-startup-fareharbor/), a start-up providing booking-software for travel experiences, tours, and activities.
"They're actually helping to bring this segment even more connected to our industry," Tans said, adding that the majority of experience services "were not even to be found online" prior to the tech world paying more attention to the space.
Despite reporting [strong quarterly earnings](https://seekingalpha.com/article/4218510-booking-holdings-inc-bkng-ceo-glenn-fogel-q3-2018-results-earnings-call-transcript) that beat revenue expectations and boasted a record-number of bookings, the company's CEO still has her eye on the competition.
In September, the Indian start-up, OYO Hotels, [raised $1 billion](https://www.bloomberg.com/news/articles/2018-09-25/24-year-old-oyo-founder-raises-1-billion-to-fund-overseas-push) for a valuation of $5 billion. Unlike Booking's agency-focused approach, OYO works directly with hotel owners, helping them make upgrades and supply their staffs with relevant training.
"I quite admire the company because they basically made the budget segment accessible in India," Tans said.
Given OYO's different approach to the travel industry, Tans said she sees the firm as less of a threat, and more of a potential collaborator.
"That's not something that Booking is actually doing today, so we actually help OYO to fill these rooms which, then, is a perfect partnership," she said.
For full interview [click here](https://cheddar.com/videos/booking-com-ceo-talks-ride-sharing-experience-travel-and-q3-earnings).
Orangetheory Fitness is redefining the future of workouts with smarter tech, strength-based programming, and community-driven studios built for what’s next.
Spain's government has fined Airbnb 64 million euros or $75 million for advertising unlicensed tourist rentals. The consumer rights ministry announced the fine on Monday. The ministry stated that many listings lacked proper license numbers or included incorrect information. The move is part of Spain's ongoing efforts to regulate short-term rental companies amid a housing affordability crisis especially in popular urban areas. The ministry ordered Airbnb in May to remove around 65,000 listings for similar violations. The government's consumer rights minister emphasized the impact on families struggling with housing. Airbnb said it plans to challenge the fine in court.
Roomba maker iRobot has filed for Chapter 11 bankruptcy protection, but says that it doesn’t expect any disruptions to devices as the more than 30-year-old company is taken private under a restructuring process. iRobot said that it is being acquired by Picea through a court-supervised process. Picea is the company's primary contract manufacturer. The Bedford, Massachusetts-based anticipates completing the prepackaged chapter 11 process by February.
Serbia’s prosecutor for organized crime has charged a government minister and three others with abuse of position and falsifying of documents related to a luxury real estate project linked to U.S. President Donald Trump’s son-in-law Jared Kushner. The charges came on Monday. The investigation centers on a controversy over a a bombed-out military complex in central Belgrade that was a protected cultural heritage zone but that is facing redevelopment as a luxury compound by a company linked to Kushner. The $500 million proposal to build a high-rise hotel, offices and shops at the site has met fierce opposition from experts at home and abroad. Selakovic and others allegedly illegally lifted the protection status for the site by falsifying documentation.
Wealthfront’s CFO Alan Iberman talks the $2.05B IPO and the major moment for robo banking as the company bets on AI, automation, and “self-driving money."
A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
