WEBVTT - Trivago CEO Sees Strong Spring Travel Outlook

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<v Speaker 1>You're listening to Bloomberg Business Week with Carol Messer and

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<v Speaker 1>Bloomberg Quick Takes. Tim Stinovic on Bloomberg Radio. Well, it's

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<v Speaker 1>not easy to be a company connected with the global

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<v Speaker 1>travel and hospitality industry during a pandemic, like we saw

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<v Speaker 1>tim travel stocks rallying a big way. Cruise lines, we

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<v Speaker 1>certainly saw the airlines, but it's been vaulatile depending on

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<v Speaker 1>the COVID headline. It's been a tough eighteen months. And

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<v Speaker 1>it doesn't matter whether you're an airline, whether you're a

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<v Speaker 1>cruise company, whether you're a hotel or even a casino,

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<v Speaker 1>or perhaps even a service that people used to book

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<v Speaker 1>these which is exactly what Travago is. And lucky for

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<v Speaker 1>us back with us, as Axel hea for he see

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<v Speaker 1>of the online travel platform in search site Travago. He

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<v Speaker 1>is on the phone in Germany, Axel, good to have

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<v Speaker 1>you back with us. How are you. I'm good. I'm

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<v Speaker 1>good given the circumstances, obviously, I know I feel like

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<v Speaker 1>it depending on when we're talking to you, it's I

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<v Speaker 1>feel like over the summer we were starting to feel

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<v Speaker 1>more optimistic. I think we've talked with you at the

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<v Speaker 1>end of July and things felt a little bit better. Um,

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<v Speaker 1>how are things going for you and your team? Um?

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<v Speaker 1>We we've been watching the headline, certainly at a Germany.

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<v Speaker 1>You guys deal with you know, Europe in a big way. Um,

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<v Speaker 1>what are you seeing? What are you hearing both when

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<v Speaker 1>it comes to folks using your site and also internally

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<v Speaker 1>your own team kind of managing through another round of this. Yeah,

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<v Speaker 1>I mean the it's it's it's a very interesting point

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<v Speaker 1>in time because the situation got a lot worse, and

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<v Speaker 1>particularly in some of our core markets in Europe, with

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<v Speaker 1>infections on record highs in Germany and in many other markets.

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<v Speaker 1>On the other hand, UM, we continue to believe that

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<v Speaker 1>the the outlook and the spring will be very very

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<v Speaker 1>strong and that we will be through the pandemic more

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<v Speaker 1>or less by the middle of next summer. So UM,

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<v Speaker 1>right now very tough and um sometimes also a bit depressing,

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<v Speaker 1>but the outlooks are very positive. Well in terms of

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<v Speaker 1>outlooks there in the earnings report that you reported back

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<v Speaker 1>in November. On November one, Trevigo said that it does

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<v Speaker 1>not expect full rebound and travel over the winter. When

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<v Speaker 1>do you expect a full rebound and travel? I do

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<v Speaker 1>think that that we will see a very strong spring. Um.

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<v Speaker 1>I mean, like like this year, um we and and

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<v Speaker 1>also last year, we've seen that coming out of a

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<v Speaker 1>winter with high infections, with restrictions in many places, um,

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<v Speaker 1>people want to travel and want to actually see friends

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<v Speaker 1>and family, want to get out and then get a

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<v Speaker 1>break and um, and we expect exactly the same pattern. Um.

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<v Speaker 1>Having said that, what will be different from our perspective

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<v Speaker 1>in two versus twenty one, and for sure obviously twenty

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<v Speaker 1>is that there is a signatantly greater number of people

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<v Speaker 1>vaccinated twice or even three times, and to be honest,

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<v Speaker 1>also a significantly greater number of people that God's sick

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<v Speaker 1>already and have antibodies because of that. One thing I

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<v Speaker 1>wanted to go back to is a Thanksgiving weekend. How

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<v Speaker 1>did that go for you guys? And is that an

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<v Speaker 1>indicator of maybe what we'll see through the rest of

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<v Speaker 1>the winter season. I mean, it went well. In the

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<v Speaker 1>US overall is is still much much more stable than Europe,

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<v Speaker 1>to be honest, um, and there is one very big

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<v Speaker 1>benefit in being in the US. You don't have to worry,

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<v Speaker 1>um that much about travel restrictions being in post between

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<v Speaker 1>states um, which is a problem in Europe, and it's

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<v Speaker 1>something that adds a lot of uncertainty to your travel plans. Um.

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<v Speaker 1>There are there is a regular flow of new restrictions,

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<v Speaker 1>change and restrictions, testing requirements, etcetera. And this distriction is

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<v Speaker 1>what what is is concerning people and holding them off

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<v Speaker 1>from traveling. UM. In terms of looking forward, it is

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<v Speaker 1>very very difficult to say, Um, the new variant is

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<v Speaker 1>obviously adding uncertainty. UM. And like in the past, some

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<v Speaker 1>governments think that you can stop a virus from entering

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<v Speaker 1>the country by imposing very strict travel restrictions, which obviously

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<v Speaker 1>only works for so long. It sounds like you disagree

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<v Speaker 1>with that assessment. I mean, it's it's very difficult to say,

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<v Speaker 1>to be honest, and I don't want to be a

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<v Speaker 1>politician in in in times like we are in today.

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<v Speaker 1>But um, it is it works to slow down the

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<v Speaker 1>spread of a virus, which in particular in winter can

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<v Speaker 1>make sense if your hospitals are full already. But um,

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<v Speaker 1>the general idea of of locking out the virus in

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<v Speaker 1>today's world and in the kind of global economy that

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<v Speaker 1>we're living in is just theoretical. And you know, every

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<v Speaker 1>every new virus variant will make it eventually to every

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<v Speaker 1>single country. Look, I gotta tell you my colleague, and

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<v Speaker 1>I'm only going to read this because he tweeted about it.

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<v Speaker 1>Andre Pierre Duplessy, who works with me on Quick Take,

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<v Speaker 1>just got back from South Africa over the weekend. He

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<v Speaker 1>flew into Newark, and he wrote that nobody asked to

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<v Speaker 1>see his COVID test, nobody checked his temperature, nobody told

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<v Speaker 1>him of any quarantine rules, and he wasn't even given

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<v Speaker 1>a CDC pamphlet like he had previously gotten in Florida.

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<v Speaker 1>So coming back, none of that over the weekend and

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<v Speaker 1>he was come back South Africa. That's pretty interesting. Do

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<v Speaker 1>you think that's going to change, though, Axel? Depending on

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<v Speaker 1>the numbers in terms of COVID cases. I mean, the

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<v Speaker 1>we we don't know that much about the very end yet,

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<v Speaker 1>but it seems to UM. It seems to be sufficiently

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<v Speaker 1>different so that it can spread more easily amongst vaccinated people.

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<v Speaker 1>So I do think it's not unlikely that it will

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<v Speaker 1>be the dominant variant very soon, pretty much everywhere. And

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<v Speaker 1>the key question is it more dangerous than delta or

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<v Speaker 1>isn't it UM? I guess that's what what the scientists

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<v Speaker 1>are currently working on to find out. Okay, sit tight,

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<v Speaker 1>We're gonna do some news and then come back because

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<v Speaker 1>we also want to get into a partnership that you

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<v Speaker 1>have with Huawei, because we really find this interesting and

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<v Speaker 1>I know our audience will as well. We're gonna come

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<v Speaker 1>back with Axel. Heifer, the CEO of Travago, on the

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<v Speaker 1>phone from Germany, will continue getting the outlook and again

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<v Speaker 1>talk about some of the partnerships that they are doing

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<v Speaker 1>as that platform continues to evolve. Here to hear from

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<v Speaker 1>him the breakdown of what he's seeing on the platform

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<v Speaker 1>when it comes to geographies, because the company does get

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<v Speaker 1>revenue a lot from the United States, blocks from Germany,

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<v Speaker 1>the UK, Brazil and Australia. So how are people in

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<v Speaker 1>different places using the platform differently right now? And I

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<v Speaker 1>have to say, for me, when I go to travel,

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<v Speaker 1>like I get a little overwhelmed by there's so many

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<v Speaker 1>different travel platforms and I'm always like, how do I

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<v Speaker 1>get the best deal? And it's just kind of crazy. Anyway,

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<v Speaker 1>we're gonna come back with Axel. In just a moment.

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<v Speaker 1>You're listening to Bloomberg Business Week, Carl Master, Tim Stanovic.

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<v Speaker 1>This is Bloomberg Radio. Just get back to Axel. He

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<v Speaker 1>for he's the CEO of Travagos. Do with us on

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<v Speaker 1>the phone from Germany. Hey, Axel, tell us about the

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<v Speaker 1>thing you're doing, the partnership with Huawei. It's a strategic partnership. Um.

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<v Speaker 1>What is that all about. Yeah, it's it's actually very interesting. UM.

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<v Speaker 1>So Huawei is building basically UM their own ecosystem with

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<v Speaker 1>Harmony os and their own services, and the most important

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<v Speaker 1>services from our perspective our obviously search, pedal search and

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<v Speaker 1>Pedal maps. And we are partnering with them to help

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<v Speaker 1>them to bring similar services to their customers that exist

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<v Speaker 1>already on other search engines like Being or Google UM

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<v Speaker 1>and the leveraging our supply of hotels worldwide. I'm curious

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<v Speaker 1>about way Huawei. I mean, anyone who listens to our

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<v Speaker 1>program regularly or follows the news knows that Whale has

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<v Speaker 1>been under scrutiny by governments around the world and certainly

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<v Speaker 1>engaged in a spot with the US government. So take

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<v Speaker 1>us in your thinking here. Yeah so so, UM, I

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<v Speaker 1>mean we are we are interested in basically helping every

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<v Speaker 1>search engine UM to compete more effectively with Google and

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<v Speaker 1>UM and we are. We also in discussions with others,

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<v Speaker 1>but it is it's for sure one of the big

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<v Speaker 1>search engines that is up and rising, given that they

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<v Speaker 1>have a huge installed base of devices UM that will

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<v Speaker 1>be powered by their new search UM over the next years. Hey,

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<v Speaker 1>how important our partnerships UM alliances in terms of your

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<v Speaker 1>platform and figuring things out going forward. I do think

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<v Speaker 1>in general to work with with partners strategically in the

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<v Speaker 1>long term is is the right approach, And I mean

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<v Speaker 1>the the business approach that some platform flip platforms have

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<v Speaker 1>been taking of basically taking care of themselves and not

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<v Speaker 1>really considering their partner's interest. UM is not a sustainable

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<v Speaker 1>strategy from our perspective. But more specifically for US, UM

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<v Speaker 1>partnerships are very important because they allow you to UM

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<v Speaker 1>to deliver better service to your users UM and realize

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<v Speaker 1>economies of scale UM without them on a activity. No,

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<v Speaker 1>I think it's really key. You know. I have to

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<v Speaker 1>be quite honest with you. In the break, Tim and

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<v Speaker 1>I were talking and I'm saying that sometimes I just

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<v Speaker 1>get overwhelmed by the amount of travel platforms that are

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<v Speaker 1>out there, and so how do you and and truth

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<v Speaker 1>be told, I am now looking for ease, you know,

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<v Speaker 1>and platforms that are really clear. UM, So how do

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<v Speaker 1>you think about how you want to evolve so that

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<v Speaker 1>you can catch your users attention or more users attentions? So, UM,

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<v Speaker 1>you're absolutely right, I mean they we are in a

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<v Speaker 1>situation where there are too many platforms and UM, in

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<v Speaker 1>particularly in the pandemic, we've seen that size matters a lot,

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<v Speaker 1>and it doesn't only matter in terms of economics, but

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<v Speaker 1>also in terms of quality of service, because that the

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<v Speaker 1>more users you are having on your platform, the better

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<v Speaker 1>your data is and the better your product is. And

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<v Speaker 1>so what we started to do, and the Huawei partnership

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<v Speaker 1>is UM one of the first partnerships in that direction

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<v Speaker 1>is we started to develop business to business solutions where

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<v Speaker 1>we help actually other companies to serve their customers better

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<v Speaker 1>m by accessing our back end services and basically benefiting

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<v Speaker 1>from our our size and our scale UM for their

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<v Speaker 1>own benefit. Actually, because tree Vago offers people who use

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<v Speaker 1>the service weekend stays, cars, flights packages, you have this

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<v Speaker 1>unique insight into how people are feeling and booking at

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<v Speaker 1>any given moment. I did want to ask you just

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<v Speaker 1>about what you're seeing on the platform in real time

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<v Speaker 1>right now, because this is a global platform. You serve

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<v Speaker 1>custom mers and get revenue from the U S, from Germany,

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<v Speaker 1>from Brazil, Australia, the UK. What can you tell us

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<v Speaker 1>about what people are doing on the platform right now

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<v Speaker 1>that does or does not reflect any sort of trepidation

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<v Speaker 1>about Ankron. Yeah, so the US is relatively speaking UM stable,

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<v Speaker 1>to be honest, So there is not that much concern

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<v Speaker 1>um about the new variant yet. UM Europe has been

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<v Speaker 1>hit by a combination of of really increase in in

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<v Speaker 1>delta cases UM a significant increasing delta cases and concerns

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<v Speaker 1>about the new variants breathing, and then in asure UM

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<v Speaker 1>you see a decline in overall activity predominantly coming through

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<v Speaker 1>through the new variants. So it's a bit a mixed

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<v Speaker 1>back as as you would expect across the globe. But

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<v Speaker 1>generally speaking, people are nervous and they are nervous about

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<v Speaker 1>making travel plans because they have seen in the past

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<v Speaker 1>that any new variant is likely to lead to travel

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<v Speaker 1>restrictions at some point in time. Yes, so you do

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<v Speaker 1>think about it if you're gonna make some plans, whether

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<v Speaker 1>you go local right so that you don't have to

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<v Speaker 1>worry about maybe borders shutting down once again. Hey, um,

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<v Speaker 1>just quickly, there were some notes that you shared with

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<v Speaker 1>our producer just got about thirty seconds. The metaverse or

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<v Speaker 1>meta is there a role for you and all of that? Yeah,

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<v Speaker 1>I I don't know. I mean, I mean for sure,

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<v Speaker 1>if the future is the metaverse, there will be a

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<v Speaker 1>future for comparing prices, um, even in the metaverse. UM.

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<v Speaker 1>I to be honest, I I don't know yet. UM.

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<v Speaker 1>I mean it's um. It's it's very visionary and very

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<v Speaker 1>far reaching um and um. And if successful that I guess.

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<v Speaker 1>There are also some some questions that politicians would need

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<v Speaker 1>to answer. All we have society need to answer. Um.

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<v Speaker 1>But but there will be a place for Foretel price

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<v Speaker 1>comparison in any possible future wild Um. Great to be

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<v Speaker 1>able to bounce that off of you. Excel Um. The

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<v Speaker 1>best to you and your team, and thanks for finding

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<v Speaker 1>time for us as you always do. Accell He for

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<v Speaker 1>his chief executive officer at Travago on the phone from Germany. Um, wife,

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<v Speaker 1>book a hotel, a real hotel when you can book

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<v Speaker 1>one in the metaverse. You know my dark scenario that

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<v Speaker 1>with climate change will be able to go outside. So

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<v Speaker 1>you're going to have to be traveling in the metaverse. Sorry, world,

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<v Speaker 1>but I think I know, I know. Let's just get

0:12:22.320 --> 0:12:23.200
<v Speaker 1>it right already