Hotels’ Optimism, Airbnb’s Matchmaking and United’s Earnings

Good morning from Skift. It’s Thursday, October 17, 2024, and here’s what you need to know about the business of travel today. 

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Episode Notes

Hotel executives gathered at The Lodging Conference recently to discuss emerging trends in the industry. Senior Hospitality Editor Sean O’Neill listed five key takeaways from the event as executives look forward to 2025.   

O’Neill notes hotel leaders are cautiously optimistic about the economic outlook for next year. Executives generally believe that the Fed’s recent interest rate cut will boost enthusiasm for U.S. hotel development in 2025. Luxury hotels will likely see a boom in guests as global wealth is projected to increase by about a third by 2027. 

However, O’Neill writes attracting and retaining talented workers still remains a challenge in the hotel industry.  

Next, Airbnb has officially launched an expanded co-host network designed to make it easier for hosts to manage their properties, reports Executive Editor Dennis Schaal. 

Co-hosts would be able to manage lists, respond to reservation inquiries and message guests under the program. Airbnb has piloted an online service for several years where hosts can find and hire co-hosts. But Schaal notes it’s the first time the service is available in the Airbnb app and on its website. 

Airbnb Chief Business Officer Dave Stephenson said he believes the co-hosting feature will help increase Airbnb’s listings from both new hosts and existing ones. 

Finally, Airlines Reporter Meghna Maharishi provides four takeaways from United Airlines’ better-than-expected third quarter earnings report.

United received a substantial boost from business travel’s rebound as the company’s corporate revenues for the company were up 13% compared to last year. However, despite bringing back its Los Angeles-Shanghai route, United isn’t expecting to substantially increase bookings for flights to China. Chief Commercial Officer Andrew Nocella acknowledged demand for China has changed coming out of the pandemic.

CEO Scott Kirby said he was optimistic planemaker Boeing could overcome its many issues, which include laying off 10% of its staff. In addition, United said it expects travel to slow during the weeks surrounding Election Day.