In a recent podcast from Skift on October 17, 2024, various topics related to the business of travel were discussed. At The Lodging Conference, hotel executives shared their insights on emerging trends in the industry for 2025. There is cautious optimism among hotel leaders regarding the economic outlook for next year, with expectations that the recent interest rate cut by the Fed will boost enthusiasm for hotel development. It is also predicted that luxury hotels will see an increase in guests as global wealth is projected to grow by a third by 2027. However, one major challenge that remains for the industry is attracting and retaining talented workers.
Airbnb has launched an expanded co-host network to assist hosts in managing their properties more effectively. This network allows co-hosts to handle listings, respond to inquiries, and communicate with guests. While Airbnb had previously piloted an online service for hiring co-hosts, this new feature is now integrated into the Airbnb app and website. Airbnb’s Chief Business Officer believes that this new co-hosting feature will lead to an increase in listings from both new and existing hosts, ultimately benefiting the platform as a whole.
United Airlines reported better-than-expected third-quarter earnings, with a significant boost from the rebound in business travel. Corporate revenues were up 13% compared to last year, showing that the airline is recovering from the impacts of the pandemic. Despite reintroducing its Los Angeles-Shanghai route, United does not expect a substantial increase in bookings for flights to China. The demand for travel to China has shifted post-pandemic, as acknowledged by the airline’s Chief Commercial Officer. CEO Scott Kirby expressed optimism about Boeing overcoming its challenges, including layoffs, and also noted that travel may slow around Election Day.
Overall, the sentiment within the hospitality and airline industries seems to be cautiously optimistic, with hopes for a stronger economic outlook in the coming year. Hotel executives are looking forward to potential growth in the luxury segment, driven by an increase in global wealth. Airbnb’s new co-host network is aimed at streamlining property management for hosts, with the expectation of attracting more listings to the platform. United Airlines’ successful third-quarter earnings indicate a positive trend in business travel, despite challenges in certain markets such as China. While there are uncertainties like the upcoming election, industry leaders remain hopeful for continued recovery and growth in the travel sector.
