Bloomberg Talks: Booking CEO Glenn Fogel Talks EU Tech Regulation

Date: November 18, 2025
Host: Steven (Bloomberg)
Guest: Glenn Fogel, CEO of Booking Holdings (booking.com, Priceline, OpenTable, etc.)

Episode Overview

In this episode, Bloomberg's Steven sits down with Glenn Fogel, CEO of Booking Holdings, to discuss the impact of evolving European Union (EU) technology regulations, particularly concerning artificial intelligence (AI) and digital market rules. Fogel shares how these regulations affect Booking's global business, the competitive landscape vis-à-vis US and Asian rivals, and his perspective on balancing innovation with regulatory compliance. The conversation offers a nuanced view into the challenges tech-focused travel companies face in adapting to complex, sometimes contradictory, international regulatory environments.

Key Discussion Points & Insights

1. The Complexity and Impact of EU Tech Regulations

• Global Regulatory Disparities:
  • Fogel highlights that Booking Holdings, being a global company, must navigate a minefield of different tech regulations across markets.
  • Quote (Glenn Fogel, 02:38):

    “Different regulatory environments create different problems. And one of our problems right now is with EU rules that are more stringent and more complicated and require a tremendous amount of money investment for us versus some of our competitors around the world that are not subjected to the same rules.”

• Competitive Disadvantages:
  • Regulations place Booking and similar European or Europe-facing companies at a competitive disadvantage against global rivals not bound by the same rules.

2. The Double-Edged Sword of AI Regulation

• Access to Cutting-Edge Tech:
  • Steven probes whether rules are too burdensome or if not enough companies are covered.
  • Fogel replies that the lack of clarity and uneven application may prevent European engineers from accessing the latest tech tools.
  • Quote (Glenn Fogel, 03:37):

    “The issue is the people who create these new technologies are concerned about being in...sort of liability issue.”

  • Big AI developers hesitate to bring products to Europe, fearing regulatory consequences—impacting Booking Holdings and local innovation.
• The Perceived Risk from AI Vendors:
  • Quote (Glenn Fogel, 04:54):

    “Every single AI creator always has to be thinking in the back of their head, should I bring this to Europe right now or not? Is this allowed or not?”

3. Regulation vs. Innovation – The Core Dilemma

• Public Attitudes:
  • Steven references a YouGov survey where most European respondents favored regulation even at the cost of innovation (05:23).
• Balancing Safety and Competitiveness:
  • Fogel agrees on the need for safe tech, but warns against hampering European competitiveness and innovation.
  • Quote (Glenn Fogel, 05:42):

    “The problem is the world is not one set of rules...How together do we create up with rules that will be able to match up with rules in other parts of the world?”

4. Tangible Consequences for Business and Jobs

• Opportunity Cost:
  • Fogel elaborates on real-world business impact: falling behind in personalization features, potential sales and job losses.
  • Quote (Glenn Fogel, 07:03):

    “If they come to us and they do not see the same benefits, the same ease of use, the same personalization...we may not get that sale. In the long run...Companies in the European area cannot compete. Instead of hiring more people, we end up having to let people go instead.”

• Resource Allocation:
  • Booking is spending millions on regulatory compliance instead of hiring or tech investment (08:47).
  • Quote (Glenn Fogel, 08:47):

    “We are incredibly disadvantaged by the DMA and the DSA...it's costing us huge amounts, millions and millions of euros that we could be spending on hiring people, technology, building new things.”

5. The Process of Advocacy and Hope for Change

• Engagement with Policymakers:
  • Booking is actively engaging with legislators to explain the unintended consequences of the regulations.
  • Quote (Glenn Fogel, 08:43):

    “Some people say that...your strategy should not be just hope...what we're doing is we're talking with everyone we can in government to make sure they [understand] the complications.”

• Hope for Rule Simplification:
  • Fogel expresses hope—but not certainty—that rule simplification is coming (08:41).
    • Quote (Glenn Fogel, 08:41):

      “I'm hopeful. How about that?”

6. AI in Travel – Adoption and Consumer Experience

• Booking’s AI Initiatives:
  • Booking has an AI trip planner; Fogel personally uses large language models but stresses caution.
  • Quote (Glenn Fogel, 10:27):

    “I use a lot of the large language models for myself, my own travel. And we have great things. At booking.com, we have an AI trip planner...I also do check, though. I do check to make sure everything’s exactly right.”

• Personalization Barriers:
  • Regulatory barriers limit deeper personalization, especially due to Booking’s brand structure.
  • Quote (Glenn Fogel, 11:08):

    “I would love for our AI trip planner...to know every single thing about me...Well, there’s a problem, actually, in some of the regulations that makes that more difficult for us because we have different brands...and that’s problematic.”

7. Consent as a Regulatory Principle

• Consent Issues:
  • Fogel supports strong consent principles in data use, but reiterates the operational challenge they create.
  • Quote (Glenn Fogel, 11:50):

    “Consent is great. I’m in favor of consent. Nothing wrong with that.”

Notable Quotes & Memorable Moments

• On Unintended Consequences (08:47):
  “One of the most powerful laws really is the law of the unintended consequences...sometimes there isn’t enough thought into that.”
• On Competitive Disadvantages (04:51):
  “[Big AI companies] are not giving [cutting-edge technology] over to our engineers to be able to do things and play with and learn. Well, that puts us at a big disadvantage...”
• On Balancing Tech and Regulation (05:42):
  “We all agree we want to have safe technology. Nobody disagrees with that. And then you come up, on the other hand, we don’t want to end up far behind other countries.”

Important Timestamps

• 01:42 – Steven introduces the topic and Glenn Fogel.
• 02:38 – Fogel outlines challenges of EU regulatory complexity.
• 04:54 – On why AI firms hesitate to launch in Europe.
• 05:42 – Fogel on balancing regulation and innovation.
• 07:03 – The opportunity cost for Booking Holdings.
• 08:47 – Regulatory compliance diverts millions from tech and hiring.
• 10:27 – How Booking uses AI, and remaining cautious.
• 11:08 – Personalization limits due to brand structure and privacy rules.
• 11:50 – Fogel supports strong consent for data use.

Tone and Language

The conversation is candid, practical, and tinged with both concern and optimism. Fogel mixes technical insight with business realities, pushing for regulatory clarity while acknowledging the need for safety and consent. The tone reflects both the strategic anxieties of a global tech CEO and a constructive approach to engaging with policymakers.

This summary covers the interview content and omits sponsor advertisements and idle chatter for clarity and focus.