Skift Take
Today’s podcast looks at cautious optimism in U.S. hospitality, Airbnb’s new-and-improved co-host network, and United’s third quarter boost.
Good morning from Skift. Itâs Thursday, October 17, 2024, and hereâs what you need to know about the business of travel today.
Listen Now
ð§ Subscribe
Apple Podcasts | Spotify | YouTube | RSS
Episode Notes
Hotel executives gathered at The Lodging Conference recently to discuss emerging trends in the industry. Senior Hospitality Editor Sean OâNeill listed five key takeaways from the event as executives look forward to 2025.
OâNeill notes hotel leaders are cautiously optimistic about the economic outlook for next year. Executives generally believe that the Fedâs recent interest rate cut will boost enthusiasm for U.S. hotel development in 2025. Luxury hotels will likely see a boom in guests as global wealth is projected to increase by about a third by 2027.
However, OâNeill writes attracting and retaining talented workers still remains a challenge in the hotel industry.
Next, Airbnb has officially launched an expanded co-host network designed to make it easier for hosts to manage their properties, reports Executive Editor Dennis Schaal.
Co-hosts would be able to manage lists, respond to reservation inquiries and message guests under the program. Airbnb has piloted an online service for several years where hosts can find and hire co-hosts. But Schaal notes itâs the first time the service is available in the Airbnb app and on its website.
Airbnb Chief Business Officer Dave Stephenson said he believes the co-hosting feature will help increase Airbnbâs listings from both new hosts and existing ones.
Finally, Airlines Reporter Meghna Maharishi provides four takeaways from United Airlinesâ better-than-expected third quarter earnings report.
United received a substantial boost from business travelâs rebound as the companyâs corporate revenues for the company were up 13% compared to last year. However, despite bringing back its Los Angeles-Shanghai route, United isnât expecting to substantially increase bookings for flights to China. Chief Commercial Officer Andrew Nocella acknowledged demand for China has changed coming out of the pandemic.
CEO Scott Kirby said he was optimistic planemaker Boeing could overcome its many issues, which include laying off 10% of its staff. In addition, United said it expects travel to slow during the weeks surrounding Election Day.
