Good morning from Skift. It’s Friday, September 1. Here’s what you need to know about the business of travel today.
25.08.2023 - 14:24 / skift.com / Dennis Schaal / Rashaad Jorden / Seth Borko / Josh Weinstein / Skift Research
Good morning from Skift. It’s Thursday, December 22, and here’s what you need to know about the business of travel today.
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The travel industry is still facing hurdles such as a possible worldwide recession on its path to a full recovery. So what is the state of travel entering 2023? Skift Research delves into the topic and more with its newly published annual outlook for the travel industry, which features global revenue forecasts for sectors including airlines, hotels and cruise lines.
Senior research analyst Seth Borko writes that travel remains a mixed bag heading into the new year, with pent-up demand catapulting the Americas back to 2019 levels while Asia is beginning its recovery. But every region of the globe is seeing potential for growth, Borko adds.
The outlook also includes projections for cross-border trips between 2023 and 2025 as well as a look at how economic uncertainty could affect the travel industry.
Next, rising Covid cases in recent weeks are making some travelers cautious about going on cruises. Still, Carnival believes that’s not deterring consumers from booking cruises, with the company seeing a surge in bookings for 2023 sailings, reports Associate Editor Rashaad Jorden.
Carnival CEO Josh Weinstein didn’t provide any specific booking figures during Wednesday’s earnings call that reported its fiscal fourth quarter ending on November 30. But he said the desire of many travelers to put Covid behind them has contributed significantly to the booking surge. Weinstein added that Carnival posted a record in revenue per diem during the fourth quarter, adding the company placed 90 ships, roughly 35 percent of its fleet, back in service this year. Carnival generated $3.8 billion in revenue during the fourth quarter, which was 80 percent of 2019 levels. However, the company posted a $1.1 billion adjusted net loss.
We end today with a look at the biggest spending travel brands on U.S. TV in 2022, through November. Airbnb has taken the top spot, reports Executive Editor Dennis Schaal in this week’s Online Travel Briefing.
Airbnb spent roughly $87 million on ads on national TV in the U.S. during the first 11 months of this year, according to TV analytics firm iSpot.tv. Schaal writes that Airbnb’s heavy emphasis on TV ads is not surprising, noting the company has been vocal about preferring brand advertising on TV to search engine marketing.
However, iSpot.tv found that budget hotel brand Choice Hotels has been the most seen travel company on TV throughout the U.S. in 2022. Choice Hotels ran 139 more ads in the first 11 months of this year compared to the same period in 2021.
Good morning from Skift. It’s Friday, September 1. Here’s what you need to know about the business of travel today.
Despite recession risks and inflation impacts, the travel industry has in fact plenty of significant upsides.
California-based RedAwning announced it acquired channel manager Lexicon Travel Technologies. Terms of the deal were not disclosed.
Good morning from Skift. It’s Tuesday, January 10, and here’s what you need to know about the business of travel today.
Sean Donohue, the CEO of Dallas-Fort Worth International Airport, has seen his airport make a significant rebound from the pandemic, becoming the world’s No. 2 in terms of passenger count.
Good morning from Skift. Somehow it’s already Friday, January 20. Here’s what you need to know about the business of travel today.
Skift Research has been tracking the performance of the travel industry since the start of the pandemic, and we have analyzed all the peaks and troughs, highs and lows for three years now. The last months of 2022 saw little movement in the global Index score as continued growth in demand in some areas was counterbalanced by increased worries about the broader economy.
Dubai will play an outsized role in the United Arab Emirates aim to attract 40 million visitors annually by 2031, so what can it do to improve its tourism industry? Four panelists — Dubai Airports CEO Paul Griffiths, Kerzner International CEO Philippe Zuber, Emirates Airline Chief Commercial Officer Adnan Kazim, and Dubai Corporation for Tourism and Commerce Marketing CEO Issam Kazim — discussed at the recent Skift Global Forum East in Dubai what local tourism officials need to do to continue to attract visitors.
Hilton CEO Christopher Nassetta considers himself amazed at level of growth he’s seen in the Middle East’s hotel industry during his roughly 40-year career. Nassetta described the commitment officials in the region have made to travel and tourism as extraordinary during his appearance at the recent Skift Global Forum East in Dubai, adding he views Saudi Arabia and the United Arab Emirates as markets for significant growth.
Good morning from Skift. It’s Wednesday, January 11, and here’s what you need to know about the business of travel today.
Skift has published hundreds of stories on funding for travel startups since our launch in 2012, featuring Airbnb and tours and activities provider GetYourGuide among other companies in some of those early articles. We took our coverage even further three years later with a weekly roundup of startups that had received or announced funding from investors.
India is projected to surpass a rapidly aging China as the world’s most populous country this year, a development that Skift founder and CEO Rafat Ali and Senior Research Analyst Seth Borko said would have enormous implications for the travel industry during the Skift Megatrends event in New York City on January 10.