2024 Airfare, Hotel Rate Projections; Carriers, Orgs. Forecast Corp. Travel Demand; Travel M&A

 

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January 31, 2024 Data Firms Offer Mixed 2024 U.S. Hotel Outlook By Elizabeth West Hotel industry data firms STR, Kalibri Labs, HotStats and Lodging Analytics Research and Consulting at the Americas Lodging Investment Summit in Los Angeles offered mixed projections for the coming 12 months, along with mixed conclusions about how business travel's protracted recovery will continue to impact overall hotel performance metrics. Keep Reading Advito: Int'l Airfares Drop in Q1 as Hotel Rates Rise Intercontinental airfares in early 2024 are decreasing, and domestic airfares are stabilizing as hotel rates continue to rise, according to Advito's quarterly price index report. Keep Reading U.S. Travel: Business Travel Spending to Grow, but Slowly U.S. domestic business travel volume is projected to remain below pre-pandemic levels until 2026, while total U.S. business travel spending is not forecast to recover before 2028, according to a U.S. Travel Association forecast. Keep Reading Who Bought Whom in 2023 Mergers and acquisitions in the business travel industry in 2023 weren't frenetic, but there were a few big deals in aviation, lodging, travel technology and other sectors. Keep Reading BTN's What to Watch 2024 BTN's annual presentation of opinions and projections from industry experts and BTN editors about the year ahead.  Read More We had a number of [corporate] laggards, technology being by far the largest in terms of having not returned to travel, and we are finally starting to see tech companies traveling again." - Delta's Ed Bastian Read More American Doubles Down on Direct, NDC Sales If it wasn't already clear prior to the end of last year, American Airlines executives crystallized it on its fourth-quarter earnings call: It eventually plans to have all its content available via direct or NDC channels. Keep Reading Southwest 'Confident' in Managed Business Trajectory Southwest Airlines' managed business revenue improved from the fourth quarter into the new year, and the carrier expects another sequential improvement for the first quarter, executives said on an earnings call. Keep Reading JetBlue Files for Expedited Merger Appeal, Will Focus on Leisure JetBlue and Spirit Airlines jointly filed a request to the First Circuit U.S. Court of Appeals for an expedited appeal of the Jan. 16 district court ruling that blocked their proposed $3.8 billion merger on antitrust grounds. Keep Reading Alaska: Groundings Blunt Corp. Travel 'Momentum' This month's grounding of Boeing's 737 Max 9 aircraft has reduced Alaska Airlines' first-quarter capacity at least temporarily blunted "momentum" in business travel recovery, carrier executives said on an earnings call. Keep Reading United: Corp. Travel Took 'Significant Step Up' in January Corporate travel in the first few weeks of January took a "nice step up," United Airlines chief commercial officer Andrew Nocella said on an earnings call. Keep Reading Delta Orders 20 Airbus A350s; Reports Record Revenue Corporate demand reaches 90 percent of pre-pandemic volume for Delta going into 2024. Carrier will take delivery of 20 widebody Airbus jets starting in 2026, replacing less fuel efficient fleet. Keep Reading FAA Approves Boeing Max 737-9 Inspection Process Upon successful completion of a "thorough inspection and maintenance process", the Boeing Max 737-9 will be allowed to return to service. Keep Reading Amex Comm. Client Q4 T&E Spending Outpaces Overall Growth T&E spending by American Express' U.S. commercial customers increased 4 percent year over year to $26 billion in the fourth quarter even as overall spending for business customers had slower growth, the company reported. Keep Reading Hilton Debuts SME Business Travel Program Hilton Worldwide's new rewards program for small and midsized businesses now is accepting "interested" clients, the hotel company announced.    Keep Reading U.S. Hotel Q4 Pipeline Sets Record, Led by Dallas, Upper Midscale The U.S. hotel pipeline in the fourth quarter was up 9 percent year over year, led by the upper midscale segment, according to a new Lodging Econometrics report. Keep Reading Software Exec Martin Joins Emburse as CEO Emburse has hired software executive Marne Martin as its new CEO, the company announced. Keep Reading SoftBank Leads $104M Investment Boost to TravelPerk TravelPerk has secured $104 million in its latest funding round, with Japanese technology investment firm SoftBank joining as an investor. Keep Reading Gray Dawes Acquires Netherlands-Based VCK  Read More Japan Airlines Names Tottori President  Read More InteleTravel Acquires Mtgs. Agency MGME  Read More Former AA Exec Benedetti Consulting with Blockskye  Read More Brex Cuts Workforce by 20 Percent  Read More JetBlue Promotes Christie to COO  Read More Gol Files for Bankruptcy in U.S., Flights to Continue  Read More Finnair Appoints Turkka Kuusisto CEO  Read More UAE Travel Platform Tumodo Secures $35M in Financing  Read More Fraser Takes Reins as Serko Chief Revenue Officer  Read More STR: December U.S. Hotel RevPAR, ADR Inch Up  Read More Omni Names Former Accor Exec Doane CCO  Read More ARC: 2023 U.S.-Based Air Sales Near 2019 Record  Read More Globespan Taps Vindow for Hotel Sourcing  Read More 301 Route 17 North, Suite 1150 Rutherford, New Jersey, USA 07070

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