Artificial intelligence has been a major discussion in travel over the last year, and that’s why the theme of the Skift Global Forum is Connection in the Age of AI.
25.08.2023 - 13:57 / skift.com / Dennis Schaal / Generative Ai
Booking Holdings CEO Glenn Fogel cited the “explosion of interest” in generative AI (artificial intelligence), but counseled that it would be prudent to be patient about delivering on its promises.
“But it’s important to remember that disruption has never been built in a day, and lasting innovation is iterative,” Fogel wrote on LinkedIn. “At Booking Holdings we have been using various types of AI across our brands for over a decade to remove friction from the travel process and our teams continue to explore what the best uses of this new transformative technology might be.”
Fogel cited the challenges, including reliable data sources, in turning artificial intelligence and related technologies into a better travel experience.
“I believe that generative AI and other technologies will play a key role in this new travel world, and many of us in the travel industry are investing right now to build the foundations,” he said. “However, there are going to be significant challenges. The problems of how to obtain real-time data from countless sources, process it all to result in optimal solutions, and then act rapidly to benefit consumers will not be solved overnight. Nevertheless, this is just one area, among many, where we are going, and travel will be better when we arrive.”
Fogel’s LinkedIn post was a tad more diplomatic than his comments last month when he discussed generative AI during the company’s fourth quarter earnings call.
“Obviously, a lot of hype about AI right now, about generative AI,” Fogel said February 23.
Citing a “hype cycle,” and Booking’s long-time work in artificial intelligence, he said: “I’m not sure — I don’t think we’re into that froth of dissolution yet.”
Artificial intelligence has been a major discussion in travel over the last year, and that’s why the theme of the Skift Global Forum is Connection in the Age of AI.
The European Commission is set to block Booking Holdings’ $1.8 billion deal to acquire Sweden’s eTraveli Group, a critically important transaction that’s been in limbo for nearly two years.
The State of Texas filed a lawsuit against Booking Holdings, alleging that it violates state law by marketing hotel rates in a deceptive manner because it doesn’t include a variety of fees when it initially displays room prices.
Airbnb was the top-spending travel brand on U.S. national TV during the first 11 months of 2022 at an estimated $86.5 million, but it was merely the ninth most-seen among travel websites, hotels and motels, resorts and theme parks, cruise lines and airlines.
Good morning from Skift. It’s Tuesday, January 17. Here’s what you need to know about the business of travel today.
Rocked by a Covid relief financial scandal that led to the jailing and resignations of now-former CEO Fabio Cannavale and chief operating officer Andrea Bertoli, Amsterdam-based Lastminute.com’s shareholders elected Luca Concone as an executive director, and he’ll serve as CEO.
Whether it is out of ego or for personal financial incentives, companies sometimes do mergers and acquisitions for the wrong reasons, and many academic studies show that takeover deals generally turn out to be “losers.”
The old boys network in online travel — yes, let’s call it what it is — has reunited again to accomplish a formidable goal that has frustrated numerous startups in the past. The aim is to disrupt online cruise booking.
FareHarbor, the Booking Holdings’ tours and activities reservations tech platform, has a new CEO, Skift has learned.
Five years ago, Airbnb toyed with the idea of launching a a “superguest” loyalty program, but CEO Brian Chesky seemed to shoot down the notion of a rewards program a couple of weeks ago.
Four major online travel companies had around $34 billion in cash and equivalents on the books at the end of 2022 — and that’s considerably more liquid dinero than they had at the end of pre-Covid 2019.
Booking Holdings officials have spoken for years about their aim to take market share in rival Expedia Group’s stronghold, namely the U.S., and Booking appears to be delivering on that goal.