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May 2021

Marriott CEO Predicts Good News for Hotels

By | JIFUlife | No Comments

Original Article Published by CNBC and Kevin Stankiewicz

Marriott International CEO Tony Capuano told CNBC on Monday the distinction between business and leisure travel is fading, a welcome development for the hotel operator as it recovers from the coronavirus pandemic.

People going on vacations and other personal trips has led the hospitality industry’s rebound from the Covid-induced damage that hit more than a year ago. The return of trips for corporate purposes is crucial for a complete comeback, though, and there have been questions about how long it will take for that to return to pre-pandemic levels — if ever.

“We do think you’ll see a steady return of business,” Capuano said in an interview on “Squawk on the Street,” noting that, in mainland China, business-travel demand in March was 5% above where it was in March 2019. China’s economic recovery timeline is generally thought to be several months ahead of the U.S.

However, Capuano said Marriott could benefit from a broader shift in the way corporate travel is viewed after the pandemic, when many white-collar employees are expected to have greater flexibility around going into the office following the necessary embrace of remote work due to Covid.

As more people return to the office, business travel will pick up, Capuano said. “The thing that will be interesting to watch, I think it’s going to be less clear what the trip purpose is,” he said.

“Increasingly we’re seeing folks that say, ‘I can blend trip purposes. I can combine leisure with business travel.’ And we think that’s really good news for our hotels across the country,” said Capuano, who has led Marriott since February. He took over for the late Arne Sorenson.

Capuano’s comments Monday came shortly after the Maryland-based company reported first-quarter financial results. Marriott’s adjusted earnings per share of 10 cents topped consensus estimates of 4 cents, according to FactSet, while quarterly revenue of $2.32 billion was below projections of $2.38 billion.

Marriott shares fell by more than 3% Monday to trade around $142 apiece. The stock is up about 7% year to date.

 

Read more here.

 

Travel Confidence Increases

By | JIFUtravel | No Comments

Have you been chomping at the bit to get out and travel? Perhaps, after being stuck inside for longer than we all thought, you’re feeling more adventurous than usual. Either way, you are not alone.

New research suggests that more people than ever before are itching to spread their (airplane) wings and fly. We have collected some of the most compelling and interesting pieces of research and listed them below. Be sure to let us know if you have travel plans and check out JIFU.com to make all your budget travel plans.

Travel Confidence

Many people (43%) feel extremely or very confident in their plans

Parents on the Move

Parents are 2x more likely to have traveled since the start of the pandemic and they’re planning trips earlier in 2021.

’tis the Season to Travel

60% of travelers say they’re planning a post-pandemic trip within the next 9 months

Familiar Destinations

“We may be dreaming of that big bucket list trip, but what travelers are actually planning so far this year are visits to familiar destinations (24%), a road trip or a beach trip (30%), or weekend getaway (26%).”