Summer travel demand remains strong despite higher prices, says Booking Holdings CEO.

• Despite rising inflation, the demand for spring and summer travel has remained stable, according to Booking Holdings CEO Glenn Fogel, who shared this information with CNBC on Thursday.
• Fogel stated that after two years of pandemic disruptions, 'prices can be really high and people are saying, "I don't care. I just want to travel,"'.

Despite a sudden increase in inflation, there has been no decrease in travel demand during spring and summer, according to CEO Glenn Fogel, who spoke on CNBC on Thursday.

Fogel, whose company provides online travel services including flight booking, stated, "Not yet. Not yet," citing the Covid pandemic's impact on travel routines.

According to the CEO, when people have not been able to travel the way they want for two years and have accumulated significant savings, prices can become inflated, leading to the statement, "I don't care. I just want to travel. I want to go somewhere."

Central banks worldwide, including the Federal Reserve, have increased interest rates and are predicted to implement additional hikes in the near future. This is the primary instrument in the monetary policy arsenal to curb inflation.

Fogel anticipates that the pricing of travel-related services will deteriorate in the near future, possibly due to the increase in fuel prices resulting from the Russia-Ukraine conflict.

Fogel stated that if you're planning a summer trip, prices are currently increasing and he believes they won't decrease.

Premium travelers are less sensitive to higher prices because they can afford premium amenities. Airlines are targeting this group, particularly on international routes as cross-border trips increase. International travel has been slower to recover from pandemic-related declines than domestic travel.

Booking Holdings is optimistic about international travel this summer, but acknowledged that there will be variations across regions, according to Fogel.

Fogel stated that Asia is not recovering as quickly as Western Europe, a trend that has been observed for some time. Additionally, the conflict in Ukraine has affected Eastern Europe.