What is the outlook for the travel industry from Wall Street analysts?
Naved Khan, senior
analyst at Truist Securities, says “the
as analysts keep getting asked is, ‘What do
you think growth looks like in ‘23, with
everything that’s going on at the macro
economic conditions, consumers could scale back their travel, for example, from
five-star to four-star hotels and from five or seven nights to three or four,
says Khan during The
Phocuswright Conference’s Executive Panel: Street Talk.
Mark Mahaney, senior managing director
at Evercore, says as the economy slows, “the only
part of consumer discretionary spend that’s holding up is travel, and I hope it
continues to hold up.”
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reductions in 2023 could lead to jobless people canceling their vacations,
Walmsley, managing director at UBS, say the investment
community is concerned about what will happen, particularly in Europe, in 2023.
is well-positioned for a downturn, but because so much of Booking’s business
comes from Europe, it could be hurt if that continent suffers an economic hit,
according to Walmsley.
in this phase where we’re moving from … recovery stories to questions around, ‘What
like?’” he continues.
that is, ‘What happens to travel in a recession?’”
Watch the entire conversation moderated by Charuta
Fadnis, senior vice president of research and product strategy at Phocuswright, in the video below.
Executive Panel: Street Talk - The Phocuswright Conference