Packed week of travel earnings (Peter Dazeley/Getty Images)
Stocking up on mini shampoos... one bottle = one squeeze. It's hospitality week, with Hilton, Marriott, Airbnb, Booking.com, and Royal Caribbean dropping earnings. First up: Expedia reported sales were up 81% from last year as bookings reached pandemic-era highs. Ahead of the rest, we're checking in on travel:
Flying coach to Stagecoach... Travel companies are considered "cyclical" because they tend to do well when the economy thrives (and vice versa). ICYMI: the economy isn't exactly crushing it. US GDP shrank last quarter, and global economic growth forecasts have been slashed. Still:
The vacay rebound doesn’t appear to have peaked yet… Unlike the booms experienced by tech and banks last year, travel companies have seen more of a slow-and-steady climb (peppered with Covid-related dips). So far, it looks as if it’s still going, and Visa said demand for summer bookings is “very high.” But inflated prices, war, and new Covid outbreaks could threaten the jet-set recovery.