ALL RIGHT AND SOME OTHER NEWS
BOOKING HOLDINGS REPORTING ITS
1ST QUARTER EARNINGS AFTER THE
BELL YESTERDAY
AND SHARE IT DID CLOSE LOWER
TODAY GET ABOUT 2% ON AFTER THE
EARNINGS DID IT STILL BEAT WALL
STREET ESTIMATES ACCORDING TO
THE CEO GLENN FOGEL DURING THE
EARNINGS CALL THE SLOW VACCINE.
ROLLOUT ABROAD IS HINDERING THE
RECOVERY MAKES SENSE. JOINING
NOW IS BOOKING HOLDINGS CEO
GLENN FOGEL I GLENN THANKS SO
MUCH FOR JOINING US THIS
AFTERNOON. IT'S GOING TO
SO BREAK DOWN THESE NUMBERS APP
FOR US HOW WOULD YOU CATEGORIZE
THE QUARTER.
>> WELL LOOK FIRST THANK YOU
VERY MUCH FOR HAVING ME AND
I'LL BE PROBABLY ON
IT'S IN THIS ENVIRONMENT, RIGHT
NOW NOT TO WORRY TOO MUCH ABOUT
ONE QUARTER. OBVIOUSLY WE'RE
PLAYING FOR THE LONG RUN HERE
AND YES, IT'S NICE TO
SEE SOME VERY STRONG NUMBERS
TALKING DOMESTIC US HERE ARE
VERY PLEASED ABOUT THAT I TALK
TO EACH MONTH IN THE U.S. WERE
DOING BETTER
AND BETTER VERY HAPPY ABOUT
THAT AND ALSO CAUTIONED THAT WE
NEED
A GLOBAL RECOVERY FOR TRAVEL TO
REALLY COME BACK TO WHERE IT
WAS THAT REQUIRES A LOT MORE
WORK IN TERMS OF VACCINATIONS
THROUGHOUT THE WORLD WHO
TRAVELED TO RECOVER.
>> MAKES SENSE. I THINK THAT'S
THE QUESTION IS WHEN WILL WE
SEE
BUSINESS TRAVEL. RETURN AND
ACTUALLY WE WERE MY COLLEAGUE
LISA WAS TALKING TO THE CMO OF
TRIP ACTION EARLIER TODAY ON
THE SHOW CLOSING BELL ABOUT
BUSINESS TRAVEL. LET'S TAKE A
LISTEN TO WHAT SHE HAD TO SAY.
>> WHAT WE'RE SEEING IS
CORPORATE TRAVELS ABOUT
47% LEVELS AND WE WILL BRING
THAT WE BELIEVE IN THE NEXT
COUPLE WEEKS WE HAVE 50% AND
75% BY THE END OF
THE YEAR AS THE VACCINES
ROLLING OUT DOMESTIC TRAVELS WE
SEE IN THE NUMBERS AND PEOPLE
ARE PICKING OUT HOW TO
TRAVEL SAFELY. YOU KNOW IF YOU
THINK ABOUT EVERY CFO CARES
ABOUT GETTING THERE AND BACK TO
TRAVEL SAFE PLAY AND THEN ALSO
CONTROLLING COSTS WHILE THEY DO
THAT.
>> OKAY SO 75% RETURN BY THE
END OF THIS YEAR WHEN IT COMES
TO BUSINESS TRAVEL. I DO AGREE
WITH THAT DOMESTICALLY.
>> WELL EVERYBODY HAS A CRYSTAL
BALL EVERY JUST
THROWING DARTS THAT'S ABOUT I
SAY BECAUSE I DO NOT GO OUT
THAT FAR TO SAY WHAT
ONE SEGMENTS IF YOU GET THE I
JUST DON'T FEEL THAT CONFIDENT
IN THIS BUSINESS 21 YEARS, NO
PRICE LINE FIRST BECAME BOOKING
HOLDINGS NOW TIGHT, IT'S
VERY HARD PREDICT THE FUTURE,
ESPECIALLY WHAT WE'RE DOING SO
MANY VARIABLES THAT NOBODY CAN
REALLY PREDICT. WHAT'S GOING TO
HAPPEN IN TERMS OF VACCINATION
OF VACCINATION WELL WHAT'S
GOING TO HAPPEN IN TERMS OF
VIRUS. SPREAD AND
VIRUS MUTATIONS HOWARD
GOVERNMENT'S GOING TO DEAL WITH
WHETHER OR NOT SOMETHING IS
SAFE OR NOT SAFE IN TERMS
OF TRAVEL, LOTS OF DIFFERENCES.
I JUST SAY LOOK I KNOW AT SOME
POINT THINGS ARE GOING TO BE
BACK TO NORMAL IT WILL BE 75%
OF 100%.
I JUST CAN'T PREDICT WHEN IT'S
GOING TO BE WHEN I SAID THE
ORCA WAS WOULD TAKE YEARS NOT
CORPS FOR THE TRAVEL INDUSTRY
TO RECOVER FULLY TO 20 19 ALL
STICK BY OF COURSE WE DON'T ONE
YEAR NOW.
SO HOPEFULLY WON'T BE TOO LONG,
BUT HE'S STILL GOING TO TAKE
TIME.
>> AND WE HAD HEARD FROM THE
BIDEN ADMINISTRATION LATE
YESTERDAY WHEN THE MARKET WAS
STILL OPEN WE SAW SOME OF THESE
HEALTH CARE STOCKS ON SELL OFF
LIKE A PFIZER LIKE MODERNA
BECAUSE HE BASICALLY SAID HE'S
GOING TO WAVE THAT PATENT
ON THESE VACCINES
IS THAT THE POSITIVE FOR YOUR
COMPANY EVEN THOUGH THE HEALTH
CARE, STOCKS FELL AND THEN I
WOULD THINK FOR
INTERNATIONAL TRAVEL AFTER
TRAVELING GENERAL THAT COULD BE
A POSITIVE.
>> WELL SAY THIS ANYTHING THAT
HELPS PEOPLE BE SAFER TO TRAVEL
IS GOOD FOR OUR BUSINESS ON
FULLY IN FAVOR OF THAT AND
TERMS OF WHETHER OR NOT PAT BE
RULES TO
BE RELAXED ALLOW OTHER PLACES
TO MAKE VACCINES OR NOT WHETHER
YOU PAY A LICENSING FEE OR NOT
LOTS OF COMPLICATION THAT
WE'RE NOT READ WHAT I'VE HEARD
THOUGH IS JUST BECAUSE YOU SAY
SOMEBODY CAN JUST TURN
WE'RE BUILDING A PLANT NOW HE
CREATE A VACCINE IN A DIFFERENT
PLACE DOESN'T MEAN HAPPEN
THAT QUICKLY. THERE ARE
SHORTAGES OF MATERIALS IS
THERE'S A LOT OF TECHNOLOGICAL
KNOW HOW THAT IS
IT HAS HURT THEIR SAFETY
CONCERNS MAKING SURE THESE
VACCINES ARE BEING
PRODUCED SAFE. THERE'S LOTS OF
COMPLICATIONS IS FOR A
POLITICAL POINT OF VIEW IT'S
FINE TO SAY HEY WE'RE GOING TO
TRY TO MAKE IT EASIER FOR THERE
TO BE MORE VACCINES. I DON'T I
DON'T DISAGREE WITH TRY TO MAKE
IT EASIER FOR MORE VACCINES
THAT BE GOOD FOR
OUR BUSINESS. I JUST HOPE
THAT'S NOT THE
RIGHT WAY.
>> I'M INTERESTED IN WHAT YOU
ARE SEEING IN TERMS OF A
BOOKING TRENDS THAT IS SO
LONG-TERM STAYS AS CERTAINLY
THE WORK FROM HOME, A REALITY
THAT WE'VE BEEN LIVING IN MOST
OF US MOST PEOPLE HAVE BEEN
LIVING IN THE PAST YEAR
OR SO I THINK DID INCREASE
THOSE LONG-TERM STAY BOOKINGS.
I KEEP HEARING THAT FAMILIES
JUST LIKE THEY'RE SO READY TO
GET OUT ON THE 2ND HALF OF THIS
YEAR SO READY TO GET OUT OF
THE HOUSE I DID TAKE A TRIP SO
THAT MAY INDICATE THAT THERE IS
SOME DEMAND FOR SHORT-TERM
STAYS AS WELL BUT WHEN YOU LOOK
AT THOSE LONG-TERM STAYS AND
THE SHORT-TERM STAYS. HOW IS
THE DEMAND FOR THOSE CHANGING
AS WE ARE ON THE CUSP OF A
FULLER REOPEN.
>> WELL ACTUALLY RICHARD THAT
SENSE OF PENT-UP DEMAND AND WE
SEE THAT BECAUSE ONE EVER.
PART OF THE WORLD BECOME SAFER
BECAUSE THE
VACCINATION RATE GOES UP IN
GOVERNMENT START TO LOWER THE
RESTRICTIONS WE SEEN AN
INCREASE IN TRAVEL IT
CORRELATION THAT'S ALMOST
A ONE I CAN ALMOST TELL IF
AN AREA THE SAFER VACCINE RATE
BECAUSE I CAN SEE WHAT RATE FOR
PEOPLE TRAVELING AT SO THAT'S A
REALLY IMPORTANT THING YOU
SHOULD THE LONG-TERM STAYS HE
DEFINITELY WAS A PHENOMENON
TERMS OF PEOPLE SAY HEY NO WORK
FROM HOME OR
FROM HOME AYES ARE PLACING WILL
GO SOME PLACE FOR 2 MONTHS 3
MONTHS OR WHATEVER, BUT THAT'S
A RELATIVELY SMALL PART OF THE
TRAVEL INDUSTRY. IT'S NICE TO
TALK ABOUT IN TERMS OF THE
TOTAL NUMBERS, IT'S RELATIVELY
SMALL.
>> RISING GAS PRICES FACTOR
INTO ALL OF THIS BE AGHAST A
GUEST ON REGARDING GAS EXCRETE
EXCUSE ME. EARLIER THIS WEEK
BASICALLY SAY THEY GAS PRICES
ARE GOING TO BE RISING
THROUGHOUT THIS SUMMER.
HE NOTABLY, ESPECIALLY ON THE
WEST COAST HOW DOES THAT IMPACT
YOUR COMPANY.
>> WELL CERTAINLY EVERYBODY WAS
TWICE THE COST OF MY
TRIP GOING THEY AND GAS PRICES
FOR A ROAD TRIP IS CERTAINLY
ONE FACTOR I WOULD SAY ALL
PRICES SEEM TO BE GOING UP IN
THE
TRAVEL INDUSTRY WHICH IS WHY
CONTINUE TO SAY IF YOU SAY WHEN
YOU THINK I SHOULD BUT I COME
BACK AND SAY YOU SHOULD HAVE
YESTERDAY AND THE THING THAT'S
SO GREAT NOWADAYS IS SO
MANY PLACES OFFER YOU FREE
CANCELLATION OR VERY FLEXIBLE
RATE BOOKING DOT COM FOR
EXAMPLE, ALMOST ALL DURING THE
TORY, IT'S REALLY CANCEL SO I
TOLD EVERYBODY BOOK NOW
AND LOCKED AWAY GET THAT PRICE
NOW SO THAT IF IF PRICES GO UP
PEOPLE ALREADY
GOT IT AND ON THE OTHER HAND IF
YOU HAVE TO MAKE A CHANGE OR
SOMETHING COMES OUT WORKFORCE,
GOD FORBID VACCINES HAVE SOME
SORT OF PROBLEM, A NEW VARIANT
YOU HAD TO CANCEL YOU CAN DO
THAT IT DOESN'T COST
YOU ANYTHING.
>> ALL RIGHT WELL, GOOD NEWS
ENDING FOR THOSE PEOPLE WHO ARE
READY TO GET OUT AND WHAT A
BOOK NO DOUBT
ABOUT THAT IT COMES TO AIR
TRAVEL PRICES RIGHT THAT'S THE
CONCERN THAT PRICES ARE GOING
TO RISE
SO DRAMATICALLY THAT AT SOME
POINT IT'S GOING TO COME ON
AFFORDABLE, I'D BE INTERESTED
TO KNOW
THE BOOKINGS. I THINK YOU SEE
PASTOR
YOUR SYSTEM. HOW ARE YOU SEEING
THESE PRICES CHANGE AND IS
THERE A FORECAST THAT YOU
CAN PROVIDE THAT WILL STAY DOWN
THE ROAD FOR INSTANCE AT SOME
POINT THESE PRICES ARE GOING.
EXPENSIVE SO MUCH SO THAT THEY
MIGHT BE UNAFFORDABLE.
>> WELL THAT'S AN INTERESTING
THING WE HAVE SEEN PRICE GOING
UP OVER SOME TIME NOW AND
THAT'S CERTAINLY A FUNCTION
OF SUPPLY AND NOW THE IDEA
THOUGH THAT THE PRICE WILL
BECOME UNAFFORDABLE SO
TO SPEAK. WELL THAT DOESN'T
HAPPEN BECAUSE NOBODY HAS A
POINT A CALL WITH NO PEOPLE IN
THE PRICES WILL BE LOWERED SO
THAT THEY CAN GET SOME PEOPLE
INTO
THOSE PLANES. SO IT'S SOMETHING
THAT I'M NOT TOO CONCERNED
ABOUT THAT THERE WON'T BE
ANYBODY EXPLAINS THE QUESTION
IS THOUGH HOW PAINFUL
WILL BE THE PEOPLE SAY WELL WE
REALLY WANT TO MAKE THIS TRIP
IS A LOT MORE EXPENSIVE THAN I
THOUGHT IT WAS GOING TO BE BUT
WE'RE STILL GOING TO DO IT
BECAUSE I MENTIONED THAT
PENT-UP DEMAND WHICH AGAIN GOES
BACK
IDEA. PLEASE BOOK NOW GET THE
PRICE WHILE
YOU CAN.
>> ANY PARTICULAR DESTINATIONS.
ANY PARTICULAR BOOKINGS AG LEAD
THAT YOU WOULD RECOMMEND TO OUR
VIEWERS AS WE HEAD INTO THE
SUMMER MONTHS BASED ON WHAT YOU
SEE ON THE PLATFORM.
>> EVERYBODY HAS DIFFERENT
PERSONAL TASTE, WHAT THEY WANT
TO KNOW THAT I WILL SAY I
HAVE SEEN A LOT OF DEMAND GOING
TOWARD THE USUAL PLACE PEOPLE
HAD TO GO HOME WHY POT OUR
FLORIDA
HIS POPULAR MEXICO ALSO
INTERNET INTERNATIONALLY
THERE'S NOT A LOT OF TRAVEL
INTERNATIONAL. BUT PEOPLE ARE
GOING
TO MEXICO. SO AGAIN PEOPLE JUST
WANT TO GET OUT I JUST URGE P
WE'LL TRY AND GET IT LOCKED
AWAY NOW SO YOU'RE NOT IN A
SITUATION A MONTH FROM NOW 2
MONTHS NOW, AND ALL OF A SUDDEN
THE PRICE FOR A LOT HIGHER WHAT
TYPE OF PROPERTY WANT ISN'T
AVAILABLE THERE TO GET IT DONE
NOW WITH THE FREE CANCELLATION
THAT WE OFFER AND NOW EVERYBODY
I THINK IN YOUR FAMILY A
LOT HAPPIER.
>> AND WE DO SEE THE STOCK
RISING AFTER HOURS BOOKING
HOLDINGS OF ABOUT 8 TENTHS OF A
PERCENT