Tag: demand

Americans’ Interest To Visit International Destinations

Americans' Interest To Visit International Destinations

After the Covid pandemic, there has been a gradual surge in the enthusiasm of Americans to explore Europe and other international destinations. Several factors contribute to this trend. One major reason is that the expenses of both domestic and international trips have become comparable. This makes traveling abroad more appealing as it offers a chance to experience different cultures and landscapes without a significant increase in cost.

Furthermore, the desire to explore various global locations has become a popular choice among the new generation. Young people are increasingly drawn to the idea of broadening their horizons and gaining unique experiences by venturing outside their home country.

The impact of Travel Vlogs cannot be ignored either. These engaging and informative videos have captivated the interest of Americans, inspiring them to consider new international destinations for their vacations. Witnessing the beauty and excitement showcased in these vlogs encourages people to step out of their comfort zones and embark on international adventures.

All these factors combined have fueled the growing craze among Americans to visit international destinations, opening up a world of possibilities for their travel experiences.

“That’s clear that when you look at the travel patterns this year that there is a big exodus of Americans going over to Europe and other places in the world,” Marriott finance chief Kathleen Oberg said on the company’s second-quarter earnings call on Tuesday.

“We’ve seen a greater-than-expected geographic shift in pent-up Covid demand as the strength in demand for long international travel this summer has pressured demand for shorter-haul travel,” JetBlue CEO Robin Hayes said on the company’s earnings call earlier this week.

Overall, the growing interest among Americans in international destinations is leading to a decline in domestic tourism demand. To counteract this trend, the Federal Government might consider expanding short-term tourism visas

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Travelodge sales boosted as more customers seek budget hotels

Travelodge is led by Jo Boydell (Travelodge)

Travelodge is led by Jo Boydell (Travelodge)

Travelodge expects to benefit from consumers reacting to the cost-of-living crisis by swapping more upmarket hotels for budget ones, the accommodation giant said as it revealed higher sales.

The company, which has nearly 600 sites that are mainly in the UK but also in Ireland and Spain, added in its results update that it plans to open around eight new hotels this year. The chain last month said there is potential to boost its network with 300 more UK Travelodges.

Expansion comes after total underlying revenue jumped to £909.9 million in 2022, up from £559.7 million a year earlier and £727.9 million pre-pandemic in 2019.

During the same period revenue per room was £52.59, compared with £33.04 and £42.46.

It was helped by opening six hotel openings in 2022 , but also the industry bouncing back from the pandemic with a host of events that boosted tourist demand for accommodation, such as the Commonwealth Games in Birmingham and the Jubilee.

Chief executive Jo Boydell said: “The market recovered, with strong demand for events and short staycation breaks throughout the year as well as for essential business travel and we continued to outperform the midscale and economy segment.”

The boss added: “Whilst the current macro-economic environment creates some uncertainty, the budget hotel segment has proven resilient as consumers continue to search for great value options within the marketplace.”

EBIDTA (adjusted) reached £212.9 million last year, up from £81.8 million in 2021.

Trading in the first quarter of 2023 has remained strong with accommodation revenue approximately 30% ahead of 2022 levels. Whilst business demand is improving, central London midweek days recovered slowest hit by rail strikes.

Travelodge, which is owned by Golden Tree Asset Management LP, said it completed a refinancing last month. It

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‘We’re not out of the woods’ on holiday travel prep

Transportation Secretary Pete Buttigieg said Monday that travel infrastructure has improved since the country saw flight cancellation spikes and other strains this summer but that there’s still more to do to get the sector ready for the looming holiday travel surge.

“We’re definitely in a much better place, by the numbers, than we were this summer … but I do think, as we get ready for Thanksgiving and then the winter holiday travel season, we’re not out of the woods yet,” Buttigieg said on “NBC Nightly News,” speaking with host Lester Holt.

“There’s a lot of catching up to do in the system as it works its way through some of the profound disruptions that took place during the pandemic. I think we’re on the right track, but there’s more to do.”

The U.S. faced significant transportation sector struggles as COVID-19 restrictions were lifted and demand for airline travel started to stretch back toward pre-pandemic levels, with tens of thousands of flights canceled and delayed this summer.

According to data from the Department of Transportation, around a quarter of all flights across June, July and August were canceled or delayed 15 minutes or more. Around 8 percent of flights were delayed more than an hour.

Buttigieg said he’s urged airlines to “make sure their schedules are realistic” and work toward increasing staffing and pay for pilots.

“Early in the summer, we saw unacceptable levels of cancellations and delays. Now, part of that is the result of demand returning, people buying tickets as the economy came back, and that’s good news, but the airlines have to be ready to meet that demand,” the Transportation secretary said.

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Airbnb is a buy, could become biggest Western travel company, Bernstein says

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