The travel industry is expected to stay hot this summer. That means no price relief for travelers.
“We’re seeing a ton of demand,” Expedia Group (EXPE) CEO Peter Kern told Yahoo Finance Live (video above.)
“Lots of demand domestically, lots of demand internationally…[with] still some tightness in supply in air. Unfortunately, that means prices are going to stay high for the summer,” he added.
Kern says some trends have returned to pre-pandemic levels, such as shorter lengths of stays and big cities being popular again.
However, the industry is seeing what appears to be at least one structural change.
“More people want to travel generally. It’s not just revenge travel anymore,” said Kern.
In April, United Airlines (UAL) reiterated its full-year guidance indicating “demand remains strong, especially internationally, where we are growing at twice the domestic rate.”
Days later, American Airlines’ (AAL) CEO Robert Isom told analysts,”We see a strong demand environment this summer,…