World Travel Awards is delighted to announce that it will host its Grand Final 2023 – the climax of its 30th anniversary of rewarding travel excellence – at Dubai’s iconic Burj Al Arab.
03.11.2023 - 19:17 / skift.com / Mark Hoplamazian / Dennis Schaal / Rashaad Jorden / Sean Oneill / Seth Borko
Good morning from Skift. It’s Friday, November 3. Here’s what you need to know about the business of travel today.
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2023 has been a wild ride for investors in travel companies, with those stocks on the edge of a bear market. How bumpy has the year been? Senior Research Analyst Seth Borko turns to the Skift Travel 200 (see below), an index tracking the stock market performance of the global travel industry.
Borko writes that while travel has been a volatile industry this year, travel investors have made money in 2023. The Skift Travel 200 is up 6% from this point last year after being down 20% in 2022. In addition, Borko notes that stocks in cruises and tours, travel’s best performing sector so far in 2023, are up 26%.
Next, Expedia Group rode a strong third quarter in its business-to-business and business-to-consumer segments to record revenue and profitability, reports Executive Editor Dennis Schaal.
The company reported an adjusted net income of $778 million, the highest for any quarter in its history. Expedia Group also generated $3.9 billion worth of revenue during the third quarter, a 9% jump from last year and a quarterly record as well. Schaal adds the company also accomplished a couple of key goals, including launching its One Key loyalty program in July.
Finally, Hyatt remains optimistic that its large hotel pipeline in China will pay dividends despite the country’s economic difficulties, reports Senior Hospitality Editor Sean O’Neill.
Although China is currently experiencing both a commercial property and municipal debt crisis, O’Neill reports Hyatt leaders are still confident in their strategy there. Hyatt has 40% of its hotel pipeline in China. CEO Mark Hoplamazian said during its third quarter earnings call he believes Hyatt will be able to maintain both net room and pipeline growth.
Meanwhile, Hyatt said that overall hotel demand in the third quarter was down from 2019 levels by the mid-to-high teens, but that’s an improvement. At the start of the year, demand was down 60%.
What am I looking at? Index levels for the five core travel sectors that make up the ST200. This helps us understand how each part of the travel industry is performing relative to one another.
The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more travel industry performance metrics.
Read the full methodology behind the Skift Travel 200.
World Travel Awards is delighted to announce that it will host its Grand Final 2023 – the climax of its 30th anniversary of rewarding travel excellence – at Dubai’s iconic Burj Al Arab.
WHY IT RATES: Aqua-Aston Hospitality celebrates its recent expansions while also supporting its employees affected by the Maui wildfires and giving back to the local Maui community. — Lacey Pfalz, Associate Writer, TravelPulse
WHY IT RATES: The U.S. Travel Association is honoring some of the most influential people in the industry.—Donald Wood, Breaking News Senior Writer.
Travel-inspired home decor gifts infuse a jetsetter’s space with their passion for exploration. They’ll love being surrounded by special items that remind them of their adventures and help them anticipate upcoming journeys when they’re grounded between trips. Whether it’s framed art from a famous hotel, a set of tropical dessert bowls, or an Eiffel Tower-shaped soap dispenser, these thoughtful gifts for travelers bring the world into their home.
The beautiful winning images of the 2023 international Nature Photographer of the Year contest celebrating the beauty of nature photography were unveiled at an awards ceremony that took place at the annual Nature Talks Photo Festival in the Netherlands.
“Look,” said Liam Herringshaw, pointing at a melon-sized bulge in the layers of rock fronting the prom in Scarborough. “There’s where a five-toed dinosaur walked 160 million years ago.”
Spanning 2,500 kilometres of green, luscious coastline from Donegal to West Cork, the Wild Atlantic Way is one of the world’s most legendary road trips. It’s also the best way to discover Ireland away from the crowds in Dublin.
The U.S. Travel Association has eliminated the positions of six employees as it restructures the organization, according to an internal memo obtained by Skift and confirmed by the association.
The Alps tend to tower to mind when you picture skiing in Europe, cutting across France, Switzerland, Austria and Italy.
Lyft launched an on-time pick-up promise when riders schedule an airport trip, and if the driver is 10 minutes or more late, the company pledges to shell out $100 in Lyft cash to passengers if they ended up needing to use another service such as Uber or a taxi.
Through a variety of fundraising efforts including mileage donations and collection boxes from customers and employees in Japan and throughout the U.S. including Hawaii and the mainland, Japan Airlines raised over $132,000 to support relief and recovery efforts for communities affected by the devastating Maui wildfires that occurred in August 2023. The airline held a check presentation ceremony to the Hawaii Community Foundation on November 2 at the Governor’s Ceremony Room at the Hawaii State Capitol building.
Being an adult these days often comes with sky-high levels of burnout and round-the-clock anxiety, so vacations more than ever need to tick the cathartic box. A hotel in the UK is trialing a novel wellness technique that promises to release pent-up emotions and stress without any fancy equipment. All you have to do is scream.