In a week dominated by earnings, headlines about Airbnb’s AI future and IHG’s CEO succession led the discussion in the travel industry.
Airbnb’s announcement that it would return to its roots – in a way – and improve the shared-space experience was overshadowed by the claims its CEO made that artificial intelligence would radically change the service over the coming year. Conversations about AI were part of nearly every earnings call this week and, if they weren’t, you had to wonder if the company was soon to be left behind. Keep track of everything AI- and travel-related with our weekly AI newsletter.
Week in Review
The AI-driven Airbnb is coming, so watch its trajectory of launches later this year and mid next year. Chesky promises it will be a whole different service by next year.
Under Barr, IHG shook off years of brand cobwebs and expanded its portfolio. Like Barr, Maalouf comes into the CEO role with years of brand experience that can serve him well.
Big tech companies everywhere have been dropping staff, and now it’s Sabre’s turn. This may also be a result of a permanently changed travel industry post-pandemic and Sabre’s effort to keep up.
Like Sonder, Vacasa is another example of a company that went public way too early via a special purpose acquisition company, or SPAC, merger.
We wish hotel companies and online travel agencies were as innovative in providing much-touted personalization as they are in inventing extra fees customers struggle to avoid.
In football or soccer — pick your sport/analogy — sometimes it takes a new coach to get momentum. Under its new CEO, Tripadvisor is making significant changes to its core products.
Things are looking good in Frankfurt. The Lufthansa Group, Europe’s largest network carrier, sees all the elements falling into place for a significant improvement in operating profits this year.
Survey data for summer travel plans and bookings suggest the so-called revenge spending from savings during the pandemic might be waning, as consumers are less keen to indulge themselves with extravagant vacations.
Any changes the next wave of artificial intelligence might bring will not be instantaneous. Booking Holdings has time to act to sustain its current position in online travel.
Chart of the Week
In the Skit Research report Business Travelers: A Multi-Country Survey we aim to explore business travelers’ attitudes towards new ways of working and traveling for business in the evolving environment influenced by the pandemic.
What will be Alan Joyce’s legacy at Qantas? Edward Russell and Jay Shabat discuss Joyce’s legacy and the challenges that confront incoming CEO Vanessa Hudson.