We’re continuing our discussion of Skift Research’s State of Travel 2024 report with a look at the aviation industry. It has shown enormous progress in its recovery from the pandemic. But ultra-low-cost carriers still face their share of challenges.
23.08.2024 - 21:05 / skift.com / Rashaad Jorden / Sean Oneill / Pranavi Agarwal / Sarah Kopit
The Skift Research team recently unveiled its State of Travel 2024 report, a 400-page that documents the consumer and business trends in various sectors of the travel industry — including hotels and online travel agencies.
Editor-in-Chief Sarah Kopit and Head of Research Seth Borko discussed these trends with Senior Research Analyst Pranavi Agarwal and Senior Hospitality Editor Sean O’Neill in this episode of the Skift Travel Podcast.
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Post-Pandemic Dynamics: 2024 marks a significant shift as the first non-pandemic year, making it challenging to compare current trends with 2019. The industry is navigating new opportunities and challenges, such as staying relevant amidst increased competition and changing consumer behaviors.
Challenges for Hotels and OTAs: The major challenges for hotels and online travel agencies (OTAs) include maintaining market share and staying relevant in a market with more competition and price sensitivity among consumers. Legacy players must evolve their business models to keep up.
Impact of Potential Recession: A potential recession could lead to a softening in travel demand, particularly in leisure travel. However, luxury travel might remain resilient, while midscale hotels could benefit from travelers trading down from more expensive options.
Gen Z’s Influence on Travel: Gen Z is seen as a key demographic, with a strong interest in experiential travel and a preference for experiences over material goods. This group is likely to continue traveling even in uncertain economic times, though they may prioritize value and unique experiences.
Role of Credit Card Platforms: Travel loyalty credit card platforms, such as those from Capital One, Chase, and American Express, are becoming increasingly influential in the travel industry. These platforms are reshaping the competitive landscape, challenging traditional hotel loyalty programs, and becoming significant players in the travel sector.
In 2024, the travel and hotel industries are experiencing a significant transformation as they navigate the first fully post-pandemic year. The industry’s landscape has shifted, making comparisons to 2019 difficult due to evolving consumer behaviors and heightened competition. Hotels and online travel agencies (OTAs) face the challenge of maintaining their market share and relevance in a market where competition is fierce, and consumers are more price-sensitive. To stay competitive, legacy players must adapt and evolve their business models to meet the changing demands of travelers.
The potential for an economic recession poses additional challenges, particularly for leisure travel, which could see a decline in demand. However, luxury travel might prove
We’re continuing our discussion of Skift Research’s State of Travel 2024 report with a look at the aviation industry. It has shown enormous progress in its recovery from the pandemic. But ultra-low-cost carriers still face their share of challenges.
Strikes are a regular occurrence in Europe, as employees withhold their labour to fight for better pay and conditions.
Concerns are growing over the rise of West Nile virus after it killed two more people in Seville, Spain, raising the country's total to five deaths this year.
Good morning from Skift. It’s Tuesday, August 27, 2024, and now, here’s what you need to know about the business of travel today.
Ryanair chastised online travel agencies for years for scraping its fares and unilaterally charging higher prices, as well as booking fees and overcharging for ancillary services like checked bags.
Amex GBT (American Express Global Business Travel) has become a giant since spinning out from American Express a decade ago. Last year, it helped employees at about 20,000 companies book $6.3 billion in travel transactions. It’s probably the largest travel management company by sales, though many competitors don’t disclose their financials publicly, making comparisons tricky.
This as-told-to essay is based on a conversation with Scarlett Kiaras-Attari, a marketing executive and education content creator who moved to the UK for her studies. It has been edited for length and clarity.
Visit Florida has taken down its “LGBTQ Travel” page, a decision that could further damage relations with the LGBTQ community. And at least one other destination marketing organization in the state – Visit Lauderdale – has publicly distanced itself from the move.
Good morning from Skift. It’s Wednesday, August 21, 2024, and here’s what you need to know about the business of travel today.
There has been a shift in travel preferences with emerging trends such as quiet travel and the pursuit of a slow-paced life gaining popularity in recent months. Quiet travel is a way of exploring that emphasises tranquillity, mindfulness, and a closer connection to nature. Scotland’s serene landscapes offer a perfect escape for those seeking quiet, reflective travel in nature’s embrace.
Traveling as a sober person can be quite challenging at times. No matter how comfortable you are with your sobriety or how long it’s been since your last alcoholic drink, it can still feel like you’re missing out. After all, the whole point of traveling is to soak in as many new experiences as you can and plenty of those experiences seem to involve imbibing. When you’re with other people who seem to be enjoying themselves all the more because of their buzz, it can feel pretty awkward declining to partake.
As I stood on South Korea's Hangang Bridge, cars whizzing by, I wondered: who thought putting a hotel suite here was a good idea?