Latest news with #SteveHafner
USA Today
a day ago
- Business
- USA Today
'Wait-and-see': Many Americans are putting off booking summer vacations. Here's why.
'Wait-and-see': Many Americans are putting off booking summer vacations. Here's why. Show Caption Hide Caption Top three travel trends for summer 2025 Airbnb shares data behind the top summer destinations and motivators for 2025. NEW YORK - This year's hottest summer travel trend? Waiting for deals. Americans are scaling back travel plans from flights to drives or waiting to book only if the price is right, a tell-tale sign of an industry slowdown that's got travel companies worried. Hotel summer bookings are either flat or falling from last year, and airline bookings are down even though airfares have also declined, as economic concerns fuel a pullback in spending. Travel companies including Delta Air Lines, Marriott International, and online travel agency Booking Holdings have withdrawn or revised their 2025 annual forecasts as U.S. demand softens. Airbnb flagged shrinking booking windows as consumers take a "wait-and-see" approach and book trips closer to their check-in dates. That has left companies with less visibility into the second half of the year. Delta said in early April it was premature to project the full year given macroeconomic uncertainty. United Airlines said there's a reasonable chance that bookings could weaken. Europe travel deals: United Airlines says now's the time to book cheap flights from Newark Wait and see "It's very clear that consumers are waiting to make decisions, including for the summer," Southwest Airlines CEO Robert Jordan said at the Bernstein Annual Strategic Decisions Conference in late May, adding that demand was stable but lower than expected in January. U.S. summer flight bookings are down 10% year-over-year, according to Flighthub, an online travel agency, even though airfares have dropped. "You can't keep an airline seat on the shelf in a warehouse. If you don't fill that seat tomorrow and the airplane flies, it's gone," Steve Hafner, CEO of Kayak, a Booking Holdings unit, told Reuters. Average summer flight prices declined 7%, with flights to long-haul destinations like Sydney, Australia 23% cheaper year-over-year, according to Kayak. Hotel bookings have "actually fallen off and it gets weaker like a month out," Hyatt Hotels CEO Mark Hoplamazian told an audience at the NYU International Hospitality Investment Forum on Tuesday. "By the time you get to that month, it recovers." Summer bookings in major U.S. cities are flat-to-down year-over-year, according to data from CoStar. Average room rates are expected to rise roughly 1.3% in 2025, down from a 1.8% increase in 2024. "We're not getting that crazy pricing power we got in the early days of the recovery," Marriott CEO Anthony Capuano said, adding that the company was still seeing revenue per available room increase. Weaker dollar Travelers may start to find deals, such as a free third night for staying two nights, as hoteliers look to fill rooms, said Jan Freitag, national director of hospitality analytics at CoStar Group. That's what Jackie Lafferty is hoping for. Her summer plans have shifted from a possible family vacation in Hawaii or Florida to her home state of California instead. "By the time we broke down the cost of the flights, the hotel and the rental car, it looked expensive, it felt unreasonable," said Lafferty, a Los Angeles-based public relations director. The dollar's weakness has driven up the cost of overseas vacations. In March, American travelers surveyed by Deloitte had planned to increase budgets for their longest summer trip by 13%. By April, Deloitte's survey found Americans planned on spending about the same as last year. "The dollar is just not going as far and I think people are starting to realize that," said Chirag Panchal, CEO of the Ensuite Collection, a Dallas luxury travel concierge. The dollar has fallen about 10% since mid-January, when it was its strongest in more than two years. Panchal's clients, who had booked big trips to Europe last year, are either staying domestic or going to closer destinations like Canada or the Caribbean. "We might go international at the end of the summer. If we do, it will be last-minute and spur of the moment based on cheaper flights," said Rachel Cabeza, 28, an actor and fitness instructor based in New Jersey. For now, her only summer plan is a getaway to Martha's Vineyard in nearby Massachusetts.
Kuwait Times
2 days ago
- Business
- Kuwait Times
Americans slow to book summer travel amid discount hunting
NEW YORK: This year's hottest summer travel trend? Waiting for deals. Americans are scaling back travel plans from flights to drives or waiting to book only if the price is right, a tell-tale sign of an industry slowdown that's got travel companies worried. Hotel summer bookings are either flat or falling from last year, and airline bookings are down even though airfares have also declined, as economic concerns fuel a pullback in spending. Travel companies including Delta Air Lines, Marriott International, and online travel agency Booking Holdings have withdrawn or revised their 2025 annual forecasts as US demand softens. Airbnb flagged shrinking booking windows as consumers take a 'wait-and-see' approach and book trips closer to their check-in dates. That has left companies with less visibility into the second half of the year. Delta said in early April it was premature to project the full year given macroeconomic uncertainty. United Airlines said there's a reasonable chance that bookings could weaken. 'It's very clear that consumers are waiting to make decisions, including for the summer,' Southwest Airlines CEO Robert Jordan said at the Bernstein Annual Strategic Decisions Conference in late May, adding that demand was stable but lower than expected in January. US summer flight bookings are down 10 percent year-over-year, according to Flighthub, an online travel agency, even though airfares have dropped. 'You can't keep an airline seat on the shelf in a warehouse. If you don't fill that seat tomorrow and the airplane flies, it's gone,' Steve Hafner, CEO of Kayak, a Booking Holdings unit, told Reuters. Average summer flight prices declined 7 percent, with flights to long-haul destinations like Sydney, Australia 23 percent cheaper year-over-year, according to Kayak. Hotel summer bookings in major US cities are flat-to-down year-over-year, according to data from CoStar. Average room rates are expected to rise roughly 1.3 percent in 2025, down from a 1.8 percent increase in 2024. 'Travel is certainly under some pressure because people are not feeling as comfy as they once did,' said Michael Chadwick, CEO of Fiscal Wisdom Wealth Management. Weaker dollar Travelers may start to find deals, such as a free third night for staying two nights, as hoteliers look to fill rooms, said Jan Freitag, national director of hospitality analytics at CoStar Group. That's what Jackie Lafferty is hoping for. Her summer plans have shifted from a possible family vacation in Hawaii or Florida to her home state of California instead. 'By the time we broke down the cost of the flights, the hotel and the rental car, it looked expensive, it felt unreasonable,' said Lafferty, a Los Angeles-based public relations director. The dollar's weakness has driven up the cost of overseas vacations. In March, American travelers surveyed by Deloitte had planned to increase budgets for their longest summer trip by 13 percent. By April, Deloitte's survey found Americans planned on spending about the same as last year. 'The dollar is just not going as far and I think people are starting to realize that,' said Chirag Panchal, CEO of the Ensuite Collection, a Dallas luxury travel concierge. The dollar has fallen about 10 percent since mid-January, when it was its strongest in more than two years. Panchal's clients, who had booked big trips to Europe last year, are either staying domestic or going to closer destinations like Canada or the Caribbean. 'We might go international at the end of the summer. If we do, it will be last-minute and spur of the moment based on cheaper flights,' said Rachel Cabeza, 28, an actor and fitness instructor based in New Jersey. For now, her only summer plan is a getaway to Martha's Vineyard in nearby Massachusetts. — Reuters
USA Today
2 days ago
- Business
- USA Today
Many Americans are waiting longer to book summer vacations this year. Here's why.
Many Americans are waiting longer to book summer vacations this year. Here's why. Show Caption Hide Caption Top three travel trends for summer 2025 Airbnb shares data behind the top summer destinations and motivators for 2025. NEW YORK - This year's hottest summer travel trend? Waiting for deals. Americans are scaling back travel plans from flights to drives or waiting to book only if the price is right, a tell-tale sign of an industry slowdown that's got travel companies worried. Hotel summer bookings are either flat or falling from last year, and airline bookings are down even though airfares have also declined, as economic concerns fuel a pullback in spending. Travel companies including Delta Air Lines, Marriott International, and online travel agency Booking Holdings have withdrawn or revised their 2025 annual forecasts as U.S. demand softens. Airbnb flagged shrinking booking windows as consumers take a "wait-and-see" approach and book trips closer to their check-in dates. That has left companies with less visibility into the second half of the year. Delta said in early April it was premature to project the full year given macroeconomic uncertainty. United Airlines said there's a reasonable chance that bookings could weaken. Europe travel deals: United Airlines says now's the time to book cheap flights from Newark Wait and see "It's very clear that consumers are waiting to make decisions, including for the summer," Southwest Airlines CEO Robert Jordan said at the Bernstein Annual Strategic Decisions Conference in late May, adding that demand was stable but lower than expected in January. U.S. summer flight bookings are down 10% year-over-year, according to Flighthub, an online travel agency, even though airfares have dropped. "You can't keep an airline seat on the shelf in a warehouse. If you don't fill that seat tomorrow and the airplane flies, it's gone," Steve Hafner, CEO of Kayak, a Booking Holdings unit, told Reuters. Average summer flight prices declined 7%, with flights to long-haul destinations like Sydney, Australia 23% cheaper year-over-year, according to Kayak. Hotel bookings have "actually fallen off and it gets weaker like a month out," Hyatt Hotels CEO Mark Hoplamazian told an audience at the NYU International Hospitality Investment Forum on Tuesday. "By the time you get to that month, it recovers." Summer bookings in major U.S. cities are flat-to-down year-over-year, according to data from CoStar. Average room rates are expected to rise roughly 1.3% in 2025, down from a 1.8% increase in 2024. "We're not getting that crazy pricing power we got in the early days of the recovery," Marriott CEO Anthony Capuano said, adding that the company was still seeing revenue per available room increase. Weaker dollar Travelers may start to find deals, such as a free third night for staying two nights, as hoteliers look to fill rooms, said Jan Freitag, national director of hospitality analytics at CoStar Group. That's what Jackie Lafferty is hoping for. Her summer plans have shifted from a possible family vacation in Hawaii or Florida to her home state of California instead. "By the time we broke down the cost of the flights, the hotel and the rental car, it looked expensive, it felt unreasonable," said Lafferty, a Los Angeles-based public relations director. The dollar's weakness has driven up the cost of overseas vacations. In March, American travelers surveyed by Deloitte had planned to increase budgets for their longest summer trip by 13%. By April, Deloitte's survey found Americans planned on spending about the same as last year. "The dollar is just not going as far and I think people are starting to realize that," said Chirag Panchal, CEO of the Ensuite Collection, a Dallas luxury travel concierge. The dollar has fallen about 10% since mid-January, when it was its strongest in more than two years. Panchal's clients, who had booked big trips to Europe last year, are either staying domestic or going to closer destinations like Canada or the Caribbean. "We might go international at the end of the summer. If we do, it will be last-minute and spur of the moment based on cheaper flights," said Rachel Cabeza, 28, an actor and fitness instructor based in New Jersey. For now, her only summer plan is a getaway to Martha's Vineyard in nearby Massachusetts.
Reuters
3 days ago
- Business
- Reuters
Americans slow to book summer travel amid discount hunting
NEW YORK, June 3 (Reuters) - This year's hottest summer travel trend? Waiting for deals. Americans are scaling back travel plans from flights to drives or waiting to book only if the price is right, a tell-tale sign of an industry slowdown that's got travel companies worried. Hotel summer bookings are either flat or falling from last year, and airline bookings are down even though airfares have also declined, as economic concerns fuel a pullback in spending. Travel companies including Delta Air Lines (DAL.N), opens new tab, Marriott International (MAR.O), opens new tab, and online travel agency Booking Holdings (BKNG.O), opens new tab have withdrawn or revised their 2025 annual forecasts as U.S. demand softens. Airbnb (ABNB.O), opens new tab flagged shrinking booking windows as consumers take a "wait-and-see" approach and book trips closer to their check-in dates. That has left companies with less visibility into the second half of the year. Delta said in early April it was premature to project the full year given macroeconomic uncertainty. United Airlines (UAL.O), opens new tab said there's a reasonable chance that bookings could weaken. "It's very clear that consumers are waiting to make decisions, including for the summer," Southwest Airlines (LUV.N), opens new tab CEO Robert Jordan said at the Bernstein Annual Strategic Decisions Conference in late May, adding that demand was stable but lower than expected in January. U.S. summer flight bookings are down 10% year-over-year, according to Flighthub, an online travel agency, even though airfares have dropped. "You can't keep an airline seat on the shelf in a warehouse. If you don't fill that seat tomorrow and the airplane flies, it's gone," Steve Hafner, CEO of Kayak, a Booking Holdings unit, told Reuters. Average summer flight prices declined 7%, with flights to long-haul destinations like Sydney, Australia 23% cheaper year-over-year, according to Kayak. Hotel summer bookings in major U.S. cities are flat-to-down year-over-year, according to data from CoStar. Average room rates are expected to rise roughly 1.3% in 2025, down from a 1.8% increase in 2024. "Travel is certainly under some pressure because people are not feeling as comfy as they once did," said Michael Chadwick, CEO of Fiscal Wisdom Wealth Management. Travelers may start to find deals, such as a free third night for staying two nights, as hoteliers look to fill rooms, said Jan Freitag, national director of hospitality analytics at CoStar Group. That's what Jackie Lafferty is hoping for. Her summer plans have shifted from a possible family vacation in Hawaii or Florida to her home state of California instead. "By the time we broke down the cost of the flights, the hotel and the rental car, it looked expensive, it felt unreasonable," said Lafferty, a Los Angeles-based public relations director. The dollar's weakness has driven up the cost of overseas vacations. In March, American travelers surveyed by Deloitte had planned to increase budgets for their longest summer trip by 13%. By April, Deloitte's survey found Americans planned on spending about the same as last year. "The dollar is just not going as far and I think people are starting to realize that," said Chirag Panchal, CEO of the Ensuite Collection, a Dallas luxury travel concierge. The dollar has fallen about 10% since mid-January, when it was its strongest in more than two years. Panchal's clients, who had booked big trips to Europe last year, are either staying domestic or going to closer destinations like Canada or the Caribbean. "We might go international at the end of the summer. If we do, it will be last-minute and spur of the moment based on cheaper flights," said Rachel Cabeza, 28, an actor and fitness instructor based in New Jersey. For now, her only summer plan is a getaway to Martha's Vineyard in nearby Massachusetts.
Yahoo
23-05-2025
- Yahoo
Demand, traffic falls at Newark airport following outages
By Doyinsola Oladipo NEW YORK (Reuters) -Passenger traffic and demand have declined sharply at New Jersey's Newark Liberty International Airport, according to data from two travel companies, after a series of air traffic disruptions prompted cautious travelers to transit through nearby airports. Since April 28, the number of travelers selecting Newark as their arrival airport declined 19% and about 15% fewer travelers chose the airport for departure, according to Booking Holdings' unit Kayak. The data suggests that reports about safety have affected traveler behavior. Travelers are braving longer commutes to avoid Newark, the second-largest of three New York metropolitan area airports, after several telecom outages. On April 28, a 30- 90-second radar and telecommunications blackout led to dozens of diversions and cancellations and raised anxieties among flyers. The thousands of daily social media conversations about the airport remain 98% negative, according to social media analytics company Sprout Social. The U.S. Federal Aviation Administration said it will require flight cuts at Newark to address congestion. "If they can get into LaGuardia, that's their number one pick, then JFK and then Newark," Kayak CEO Steve Hafner told Reuters. "Even if they live on the west side of Manhattan, because you just can't afford to risk a three- or four- hour delay." Passenger arrivals at Newark from April 28 to May 20 declined about 13% from the year-ago period, according to Italy-based Data Appeal, a tourism data provider, while passenger arrivals to LaGuardia increased 5.7% in the same period, though JFK traffic fell 7% in that time due to reduced international travel demand. Before the outages, total passenger volumes in March were down 2.7% year-over-year at Newark, according to data from the Port Authority of New York and New Jersey. "I actually don't like any other airport other than Newark," said Gabrielle J., 24, of Newark who said she will fly from JFK to the Caribbean this summer. "As the outages happened, we were in the process of booking. So we were like, 'okay, now we definitely can't fly from Newark.'" Runway repairs at Newark set to be completed by June 15 have also contributed to the airport's lagging performance. "I've heard that it will hopefully get fixed by June. I would love for that to happen," said San Francisco resident Stef Anderson, 28. Anderson said her United San Francisco-to-Newark flight on May 16 was delayed by more than eight hours before eventually being canceled. She hopes her May 28 flight to Paris won't meet the same fate, because her premier silver status on United means she plans on sticking with that airline. "They have me in golden handcuffs - otherwise I would fly Alaska," she said.
