Booking Holdings' CEO Isn't Worried About Airbnb

Booking Holdings Inc. BKNG, formerly known as Priceline Group, reported its fourth quarter results on Tuesday which exceeded expectations, in part due to the travel business performing "very well."

What You Need To Know

Booking Holdings is taken full advantage of the fact that people across the world are in a better position to travel thanks to growing GDP, the company's CEO Glenn Fogel said during Wednesday's

But Fogel isn't concerned with the rise of Airbnb as Booking Holdings has faced competition since he joined the company 18 years ago, he said. In fact, Airbnb isn't so much a disrupting force as Booking Holdings also operates within the "alternative accommodations area" with 1.2 million properties that aren't a hotel.

Why It's Important

"They [Airbnb] talk about 4.5 million listings but we talk about 1.2 million properties and sometimes we have a lot of listings in those properties," he said. "When we say 1.2 million properties and you come out and say 'well, Airbnb has so many more,' you are comparing apples and oranges. So I think we have to come forward to you and give you some numbers to compare them."

What's Next?

Booking Holdings recognizes it needs to do more to add non-traditional hotel properties to its platform, including homes, villas, beach properties, and more, he said. This is an ongoing focus and the company is spending money to make sure "customers get what they want."

Related Links:

How Hotel Suites Can Compete With Airbnb And Vacation Rentals

Morgan Stanley Debunks 3 Bear Myths Haunting The Online Travel Space