Booking Channels Rival Expedia and Will Cut Costs Too

Could investors be whispering in Glenn Fogel's ears that what's good for Barry Diller's Expedia Group might be beneficial for Booking Holdings, as well? Booking Holdings is usually a first mover in such online travel initiatives, but in this case, when it comes to cost cutting, it appears as though Booking Holdings heard the rumblings emanating from Expedia Group's Seattle headquarters.

Like other travel companies, Booking Holdings officials are grappling with the fluid nature of the coronavirus and the negative impact on its business.

And, like one other company, Expedia Group, that's been making headlines about attacking internal bloat, Booking Holdings intends to get costs in line, although the extent of any budget trims wasn't specified.

Booking Holdings CEO Glenn Fogel said during the company's fourth quarter and full-year 2019 earnings call Wednesday it's "very natural, as companies grow very rapidly and achieve great success on the bottom line, sometimes discipline lightened up a little bit. So certainly, before the coronavirus, I was already thinking that we need to make sure that we're doing everything we can to spend money correctly."