Travel Execs Deny that Market, Economic News will Derail Summer Travel Rebound

In a series of interviews with CNBC, big travel and hospitality CEOs are pushing back against fears of an economic recession, saying that summer travel will rebound sharply. “We think this summer is going to be gangbusters for travel,” Marriott CEO Tony Capuano told CNBC last week.

Despite concerns of inflation and rising costs, Expedia CEO Peter Kern said he does not see travellers cancelling plans as there’s so much pent up demand after the pandemic. “We haven’t seen any signs of consumers being impacted in terms of travel spend,” said Kern.

Booking Holdings CEO Glenn Fogel revealed that gross bookings for summer 2022 are already 15 per cent above 2019 levels.

Pebblebrook Hotel Trust Chairman and CEO Jon Bortz later added that he doesn’t see economic slowdowns leading to a drop in travel bookings. “There is so much emotion attached to travel right now… [that] people are not going to cancel a trip to see their family for the first time in two years,” he argued.

CLICK HERE FOR FULL STORY
Travellers waiting at the Canada - U.S. Border. Photo courtesy of the Houlton Pioneer Times.
Come Prepared: CBSA Warns Travellers Heading into Long Weekend and Summer Travel Season
The CBSA warns summer travellers Canada's border is now "managed differently, with evolving COVID-19 requirements." Border delays have made headlines in ...
Dominican Republic Beach
The Weather Network Launches Travel Planner Tool with Launch Partners Air Canada and Aeroplan
The planning tool will provide historical weather information initially for 50 cities in 11 countries, and stems from findings that weather ...
Wendy Paradis, President, ACTA.
ACTA Calls for Speakers & Educational Session Proposals for 2022 Industry Summits
ACTA is reaching out to the travel industry for speaker proposals and suggested educational sessions for the 2022 Travel Industry Summits ...
London, UK
Canadians’ Interest in European Travel Up 2000% from 2021: Report
Europe is the second most popular continent for Canadians now, next to North America, RATESDOTCA revealed from analysis of its travel ...
Celebrity has launched the Peacemakers Sunset NFT collection, complementing Robierb’s Peacemakers sculpture featured on its newest ship, Celebrity Beyond.
Celebrity Cruises Launches First NFT Collection as Extension of Art on New Celebrity Beyond
The NFT Collection expands on a sculpture and related, very-first "NFT at Sea." Purchasers of the five NFT pieces at auction ...

Leave a Reply