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Travel Guide 2024: Industry Insights
It’s been a few years since Covid upended the global travel sector. The world is now largely vaccinated, the recession we were all hoping to avoid didn’t happen, and the consumer is still spending. Oh and the Fed is about to cut rates… So, looks like we’re poised for another huge year? Well maybe, but there are a more than few headwinds to contend with, not to mention trends that could reshape the way you think about your next vacation. Is Delta the airline best positioned to hold market share? Are cruise lines about to hike prices on a stream of never-ending demand? Is astro tourism really the big hit for 2024? And, should you really drive your Tesla from LA to San Fransisco? Yahoo Finance’s Travel Guide 2024: Industry Insights puts you at the centre of the story, looking at planes, trains, automobiles and any other form of transport you can think of.
- LifestyleYahoo Finance Video
Sports tourism allows people to 'travel with a purpose'
Sports tourism has become the fastest-growing tourism sector, according to the United Nations World Tourism Organization (UNWTO), as more cities see bolstered economic growth from being home to professional sports teams and accommodating major sporting events. Paris, France will host the 2024 Summer Olympics while North America — the United States, Canada, and Mexico — are set to host the FIFA World Cup in 2026. On Location and IMG Events — whose parent company is the Endeavor Group (EDR) — President Paul Caine joins Yahoo Finance's Akiko Fujita to talk about major sporting events' incentives to encourage people to travel, across the country or even across the globe. "Any one of these opportunities around the globe gives a fan an opportunity to do something they've never... done before. So we like to create those... once-in-a-lifetime moments for people, and that's where the experience comes in," Caine explains. "People are willing to spend more and more to get that experience. Of course, the first layer is, what are they willing to pay for the ticket? Then it goes from there, is what do they want to do with the ticket? And that comes with a whole lot, like in the Super Bowl that we just had..." Catch more of Yahoo Finance's special Travel Guide 2024: Industry Insights?coverage this week, or watch this full episode of Yahoo Finance Live here. Editor's note: This article was written by Luke Carberry Mogan.
- BusinessYahoo Finance Video
Demand up for cruise vacations: what to expect from the spike
On its recent earnings call Norwegian Cruise Line (NCLH) CEO Harry Sommer claimed cruise demand has been "as robust as we have ever seen it." The travel sector saw a boom in 2023 and cruises may continue in that trend as demand for cruise vacations soar. Citi Leisure Analyst James Hardiman joins Yahoo Finance for the latest edition of Travel Guide 2024: Industry Insights. He breaks down the pricing momentum following a strong fourth quarter.? Hardiman further details which regions have the best performance for cruises: "I think geographically the Caribbean is clearly the strongest region in the world right now. Europe is strong, but not as strong. As a global cruise company, you do have to deal with a whole lot of stuff, including the fallout from the unrest in the Middle East and the Red Sea restrictions that have now been placed. So, there's some voyages here and there that have had to be moved around the world, and certainly there's going to be a pricing impact there, but I would argue certainly you showed the more recent private movement. If you were to take that back to 2019, these stocks have, at best, held serve or at best flat for 2019 relative to a market that's up dramatically." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
- BusinessYahoo Finance Video
Choice Hotels stock is a 'win-win': Analyst
As part of Yahoo Finance's Travel Guide 2024: Industry Insights?special, Baird Senior Research Analyst Michael Bellisario sharwes his top hotel stock pick: Choice Hotels (CHH). He calls Choice a "win-win" situation. If Choice's acquisition of Wyndham Hotels & Resorts (WH) is approved, Bellisario sees significant synergy given that "bigger is better" in the hotel franchising industry. Even if the deal fails, he values Choice's "stand-alone" plan due to its strong balance sheet and earnings recovery. Bellisario notes brands like Marriott (MAR) and Hilton (HLT) benefit from business travel loyalty. However, Choice and Wyndham rewards are more "immediate" while appealing to lower-end leisure guests. Still, merging could boost loyalty and rewards across both brands. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith