Is a grand tour of Europe on your bucket list? We bet it is.
01.08.2024 - 16:04 / skift.com / Anthony Capuano / Rashaad Jorden / Sean Oneill / Mark Kempa
Good morning from Skift. It’s Thursday, August 1. Here’s what you need to know about the business of travel today.
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Marriott executives are optimistic they’ll see growth throughout the year despite emerging headwinds, writes Senior Hospitality Editor Sean O’Neill.
CEO Anthony Capuano said the company saw strong travel demand during the second quarter. Marriott said it expects its revenue per available room — a key hotel industry metric — to grow between 3% and 4% this year. But that’s down slightly from a previous forecast of up to 5%. And O’Neill notes Marriott faces several challenges, such as China’s struggling economy and the U.S. presidential election’s likely impact on travel patterns in November.
Next, a U.S. Senate committee has advanced a bill that would create a national standard for hotel pricing in the U.S., writes Senior Hospitality Editor Sean O’Neill.
The Hotel Fees Transparency Act would require hotels, short-term rentals and online travel agencies to display the total price of a stay, including all mandatory fees, upfront. The bill now awaits a full Senate vote, which would bring it one step closer to becoming law.
The American Hotels & Lodging Association has come out in support of the bill, which O’Neill notes is a reversal of its long-time stance opposing legislation around so-called junk fees.
Finally, Norwegian Cruise Line executives haven’t seen a reduction in guest spending, writes Global Tourism Reporter Dawit Habtemariam.
Spending on Norwegian Cruise ships remained strong in large part due to onboard amenities such as specialty restaurants while pre-cruise bookings for amenities were up 15%. Chief Financial Officer Mark Kempa said the company benefits from having more time to sell products to guests than hotels do, for example.
In addition, guests tend to book cruise trips much further in advance, making it easier for Norwegian Cruise to market onboard activities.
Is a grand tour of Europe on your bucket list? We bet it is.
Good morning from Skift. It’s Wednesday, August 7, and now here’s what you need to know about the business of travel today.
InterContinental Hotels Group (IHG) reported earnings Tuesday, and said it isn’t seeing signs of demand weakness outside of China.
Hyatt enjoyed a continued recovery in travel demand in the second quarter but did lower its full-year guidance for room revenue on Tuesday ahead of a possible softening to come.
Good morning from Skift. It’s Tuesday, August 6, and now here’s what you need to know about the business of travel today.
On Wednesday, the U.S. Senate Committee on Commerce, Science and Transportation voted to pass a bill that, if it receives a majority vote in the Senate, would prohibit hotel and vacation rental companies from advertising unfair and deceptive pricing — aka booking "junk fees."
The biggest Norwegian Cruise Line ship at sea is getting a major makeover.
Good morning from Skift. It’s Friday, August 2, 2024, and now here’s what you need to know about the business of travel today.
The Department of Transportation is proposing a rule that would prohibit airlines from charging “junk fees” to seat families together on flights.
MGM Resorts International reported record second-quarter revenue on Wednesday, driven by a recovery in Macau and continued strength in Las Vegas. The casino and resort operator noted that a partnership with Marriott International boosted the company but that an upcoming Formula 1 race in Las Vegas isn’t leading to as many bookings as was hoped.
Don't expect any rate discounts at the world's largest hotel company — with one notable exception.
Norwegian Cruise Line Holdings executives say they aren’t seeing a reduction in guest spending.