What Tech Layoffs Mean for Travel Brands - Skift Travel Podcast

Spain’s Tourism, Trade and Industry Minister Reyes Maroto will quit to run for mayor of Madrid, triggering a cabinet reshuffle, she said on Monday.

In its annual outlook for the travel industry, Skift Research has created 2023 global revenue forecasts for airlines, hotels, short-term rentals, cruise lines, and online travel agencies. Skift also built an estimate for international cross-border travel from 2023–2025. This outlook is meant as a companion piece to our recent State of Travel report that offers in-depth coverage of all travel segments.

Google is one of the undisputed heavyweights in online travel. So when one of the key masterminds behind all of its travel platforms and products talks about where the search giant is heading, it’s worth paying attention to.

The vice chairman and CEO of Expedia Group, Peter Kern, covered a lot of ground during his session at Skift Global Forum in New York City in September. Kern gave his perspective on mergers and acquisitions, technology, and micro-services.

For this bonus episode of The Skift Travel Podcast, we turn to Dallas where we held our first in-person Skift Aviation Forum earlier this week. To begin the event, we invited American Airlines CEO Robert Isom to have a conversation conversation with Airline Weekly’s Ned Russell about post-pandemic pattern changes and how his airline is preparing for the holiday season ahead.

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.

As other sectors deal with post-epidemic corrections, travel brands continue to grow as they make up for lost ground over the last three years. Earnings season continued this week and both Meta’s and Google’s results showed the strength of travel brands during the last quarter. Read on.

It was a big week for hotel and short-term rental earnings, with a few record quarters from Marriott, Hyatt, Airbnb, Choice, and Wyndham. Overall, the outlook for 2023 is better now than the already positive forecasts from late last year.

Earlier this week we did our first event on LinkedIn live, and we think it went pretty well. You can watch a recap of the discussion about what travel marketers should expect in 2023 on LI or back on Skift, too.

While the tech sector faces the blues, the travel sector is still moving in a positive direction. You can see this in the last month of earnings reports, as well as from exclusive Skift Research surveys. Although not fully recovered completely, the travel industry gained substantial momentum at the start of the year. All regions have almost recovered from the pandemic blues, Asia Pacific being the only exception. But with loosening travel restrictions and China reopening, we expect a stronger travel industry to be less uneven this year.

Hotel leaders from around the world gathered in London this week for the Skift Future of Lodging Forum. Senior Hospitality Editor Sean O’Neill wrote an excellent summary of the event earlier this week where he shared slides from speakers, quotes from attendees, and a Paris Hilton TikTok.

On Wednesday, we published a deep dive into Chinese outbound tourism by Asia Editor Peden Doma Bhutia. The spark of the story came from a discussion she had in December with Trip.com Chief Operating Officer Schubert Lou at Skift Global Forum East. “The article is an attempt to cut the clutter and talk about how the Chinese tourist has changed and how destinations should approach this change,” Bhutia told me this week. “Also, call it perfect timing, the deep dive came out the day China removed its final Covid-induced hurdle for travel and resumed issuing tourist visas.”