10 Things We Learned at the Skift Global Forum
20.09.2024 - 20:51
/ skift.com
/ Joanna Geraghty
/ Brian Chesky
/ Anthony Capuano
/ Glenn Fogel
20 CEOs. 35 sessions in all. The Skift Global Forum ran from September 17 – 19 with loads of insights into the future of travel. We heard from the biggest hotel operators, OTAs, tourism boards and other leaders of the industry.
Here are the highlights.
1. Brian Chesky wants Airbnb to be about more than travel: “Why would Airbnb just offer homes? Why couldn’t we offer significantly more things? And that’s the future of this company, Airbnb Brian Chesky said. “We’re going to take the Airbnb model, and we’re going to bring it to a lot of different categories.”
Chesky has had to backtrack on initiatives before – Airbnb’s implementation of AI and experiences, to name two. But for now, he’s pledging two to three initiatives a year, with a goal of turning them into billion-dollar businesses.
2. Marriott has seen a slight pullback in spending by high-end guests
“Certainly in the U.S. and in many other markets around the world, you have this bifurcation of the consumer today. The lower-end consumer is feeling some real stress. But the high-income consumer continues to prioritize travel and experiences,” said Marriott CEO Anthony Capuano.
“But even the high-end consumer, they’re absolutely traveling, they’re playing premium rates, they’re booking luxury hotels. But in Q2 we saw just a little bit of a pullback in ancillary spending on food and beverage and spa. It was still ahead year over year, but not as much as we would’ve anticipated.”
All the major hotels have been rushing to serve high-income, premium guests – their spending has held up even as the low-end has slowed.
3. Booking Holdings is all-in on growing its short-term rental business: “We are still tiny in the U.S.,” said Booking Holdings CEO Glenn Fogel. “That is an incredible opportunity for this company.”
Booking Holdings is now selling two-thirds of the room nights for short-term rentals as Airbnb, and the company says it has grown the business faster than Airbnb in 12 of the past 13 quarters.
4. JetBlue is done with mergers for now: “I think the challenge with the current environment that we’re in — notwithstanding the recent approval of Alaska and Hawaiian — is it’s difficult to see how the merger can happen with this administration,” said JetBlue CEO Joanna Geraghty.
JetBlue has plenty else to focus on: JetBlue announced this week that it would open its first-ever lounges in a push to attract more premium travelers. And issues with Pratt & Whitney engines are forcing JetBlue to ground several of its aircraft this year.
5. Las Vegas is doubling down on mega events: “Our top sports goal is to have a marquee event in the first or second quarter of the year, in addition to the Formula 1 race every year,” said Steve Hill, CEO and