Unemployment is still at historically low levels, and financial markets have sold off only a few days after strong gains. But sentiment has changed
Aug 6, 2024
After 15 years without a recession (excluding the Covid period), Friday’s jobs report sent U.S. markets tumbling and sparked discussions about a possible economic downturn. Here’s what’s happening and what it means for the travel industry.
Key takeaways
- For years, value in the airline industry has been synonymous with offering the lowest fares. However, according to Delta, this has shifted as the experience economy has taken hold, driving high demand;
- Early signs from Marriott, Wyndham and hotel REITs point to a recent decline in revenue per available room;
- Last week, Booking Holdings reported a “slight indication” that U.S. customers are opting for lower-rated hotels or shorter stays, suggesting some trade-down behavior.
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