CEOs of Online Travel Set to Speak at Skift Global Forum

After Brian Chesky’s lively conversation with Skift CEO Rafat Ali about the huge New York City crackdown and European growth at last year’s Forum, we are elated to announce that he will be once again returning to Skift Global Forum for our eleventh edition.

Good morning from Skift. It’s Friday, August 16, 2024, and here’s what you need to know about the business of travel today.

Riots have erupted throughout England and Northern Ireland over the past week in the wake of the killing of three children in a small town near Liverpool.A 17-year-old attacked the children with a knife while they attended a dance class. In
 addition to three dead, eight other kids were wounded in the incident, per media reports.While
 the alleged perpetrator was born and raised in Britain, rumors had initially circulated on social media that the individual was an immigrant.
 Since then, more than 400 people have been arrested in connection with violent riots taking place and the U.K.’s National Police Chiefs’ Council has implemented a “united and robust policing response” throughout the country.The
 riots in the country started in Southport, England, but have since spread to Manchester, Liverpool, Bristol, Leeds, Belfast, London, and other locations. Media reports have also indicated that the protestors have expressed anti-immigration and Islamophobic
 sentiments during the riots. Amid these protests, the media has released images of police in riot gear and backdrops of smoke and fire. And now, a flurry of countries have begun issuing travel advisories for the U.K. In an update issued as of August 5, Australia is recommending that its citizens “exercise a high degree of caution” when traveling to the United Kingdom. “Avoid areas where protests
 are occurring due to the potential for disruption and violence,” says the Australia advisory. “Monitor the media for information and updates. Follow the instructions of local authorities.”
 Additionally, the UAE, Nigeria, Malaysia, India, and Indonesia have issued new U.K. travel warnings amid the spate of violence.While the United States has not yet released its own updated advisory for the U.K., American travelers
 may naturally be wondering whether it’s safe to visit at the moment.

India’s tourism industry is undergoing a significant transformation. The Federation of Indian Chambers of Commerce and Industry (FICCI) projects the outbound travel market to reach $55.4 billion by 2034. At the core of this boom is India’s expanding middle class, driving both domestic and international travel as disposable incomes rise.

Four travel startups raised nearly $240 million this week, but one raise accounted for the vast majority of that.

The disappointing U.S. jobs report released earlier month — as well as the seemingly softening domestic travel demand in the U.S. — has raised concerns about an economic slowdown impacting the travel industry. Travel has been the worst-performing group of stocks over the past year, making it one of the sectors most vulnerable to a recession.

Lodging brands like Hilton and Airbnb aren't exactly hurting for cash these days, but there are signs it's about to be lights out on the post-coronavirus pandemic boom of sky-high rates and an unlimited pool of people willing to pay.

Hilton raised its forecast for 2024 profit on Wednesday but signaled that the post-pandemic travel surge is leveling off, particularly with American tourism.

Three fliers who were impacted by CrowdStrike’s global computer outage last month have filed a proposed class action lawsuit in Austin, Texas, blaming the company for negligence and asking CrowdStrike to pay impacted air travelers compensatory and punitive damages. 

Travel stocks were the best performers Monday, a day when the broader U.S stock market had its worst day in years – but don’t get too excited. Fact is, travel had front-loaded the pain. While it was Monday’s performing sector, the travel sector has been the performing group of stocks over the past week and past year. 

Good morning from Skift. It’s Tuesday, August 6, and now here’s what you need to know about the business of travel today. 

Over 300 leading companies already plan to attend Skift Global Forum on September 17-19 in New York City. This includes companies like Airbnb, Blackstone, Google, Hilton, KAYAK, Lonely Planet, and The Walt Disney Company just to name a few.