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☆ Travel isn’t dead. It’s just taking a vacation
▼ + stars: | 2024-08-19 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

New York CNN —CEOs of many of the biggest US hotel and travel companies are coming off a bit like doomsayers these days with their warnings about the declining health of consumers and their waning appetite for travel. Gary Hershorn/Getty ImagesMuch of the revenue growth that travel companies reported in recent years resulted from inflation, said David Tinsley, a senior economist at Bank of America Institute. “It was always going to be tough to expect travel spending to be showing the kind of momentum it showed 12 months ago,” he told CNN. “I don’t think the current situation is particularly bleak — it’s reasonable to see more normalization playing out,” he said, referring to travel spending getting back on par with pre-pandemic trends. Still, it’s not hard to see why this mixed picture is prompting travel companies to tread carefully.

Persons: —, ”, Brian Chesky, “ It’s, Ellie Mertz, Chris Nassetta, Airbnb’s Mertz, haven’t, Jan Freitag, ” Freitag, Walt Disney, Gary Hershorn, David Tinsley, Tinsley, “, Steve Hafner, it’s Organizations: New, New York CNN, Conference, Bank of America Institute, CNN Locations: New York, ”

☆ 78% of near-retirees failed or barely passed a basic Social Security quiz. Test your knowledge before you claim
▼ + stars: | 2024-02-21 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Generally, if I am in a same-sex marriage, there are different eligibility requirements when it comes to Social Security retirement benefits. The money that comes out of my paycheck for Social Security goes into a specific account for me and remains there, earning interest, until I begin to receive Social Security benefits. If I get divorced, I might be able to collect Social Security benefits based on my ex-spouse's Social Security earnings history. If I file for retirement benefits and have dependent children age 18 or younger, they also may qualify for Social Security benefits. Social Security retirement benefits are subject to income tax just like withdrawals from a traditional IRA account.

Persons: Rupp, David Freitag, you've, Freitag, " Freitag, You've, that's Organizations: Social Security, spouse's, Social, Getty, Security Locations: U.S

☆ Falling Domestic Fares and an A.I. Arms Race: What Travelers Can Expect in 2024
▼ + stars: | 2024-01-18 | by ( Christine Chung | ) www.nytimes.com time to read: +21 min

Arms Race: What Travelers Can Expect in 2024 At the start of what promises to be a very busy year, we look ahead at what you’re likely to encounter. With 2023 in the rearview mirror, we look ahead at what travelers will face in 2024. At United Airlines, for example, smarter software can offer rebooking options and issue food and lodging vouchers when a flight is canceled, rather than just rebooking a flight. United Airlines has suspended its flights indefinitely, said Josh Freed, a United spokesman. This year, travelers are expected to choose faraway places and board small ships, according to Virtuoso, the consortium of luxury travel agencies.

Persons: Chanelle, Hayley Berg, ” Ms, Berg, “, Robert W, Mann Jr, ”, Chad Burt, Oren Etzioni, Gilbert Ott, Hopper, Greg Forbes, Delta’s, Neville Pattinson, Mr, Pattinson, biometrics, Laura Lindsay, Joshua Smith, Smith, Laurel Brunvoll, Michael Zeiler, Airbnb, We’ve, Jamie Lane, ‘, ’ ”, Jan Freitag, “ We’ve, David Whiteside, Brian Kelly, Guy, Leigh Rowan, “ There’s, Kelly, Rowan, ” Mr, James Thornton, Sharm el Sheikh, Khaled Ibrahim, Harry Rubenstein, Rubenstein, Eyal Carlin, Josh Freed, Jack Ezon, Tom Marchant, Beth McGroarty Organizations: World Tourism Organization, International Air Transport Association, Analysts, Express Global, ”, airfare, University of Washington, United Airlines, Transportation, Administration, Salt Lake, International Airport, Denver International Airport, Delta Air Lines, U.S . Customs, Border Protection, La Guardia Airport, Los Angeles International Airport, biometrics, Thales, Air, American Airlines, Global, “, —, MidX Studios, LivSmart Studios, Hilton, Hyatt Studios, Accor Hotels, Boston University, Visa, Mastercard, Walmart, Target, Savanti, Chase, Intrepid Travel, Amisol Travel, East Travel Alliance, United, Consumers, Ki’ama, Wellness, Global Wellness Institute Locations: United States, Point.me, Salt, North America, London, Rome, Tokyo, Cancún, Las Vegas, Cayman Islands, Polynesia, Europe, Norway, Denmark, Air Canada, Bergen, Flam, Scandinavia, Italy, France, Malta, Slovenia, Maryland, Spain, Portugal, Britain, Egypt, India, Mexico ; Cape Girardeau, Mo, Niagara Falls, N.Y . Texas, Burnet, Sulphur Springs, New York, Vienna, Marriott, Israel, Jordan, Oman, Oman —, Tunisia, Northern Africa, Sharm, Cairo, Amisol Travel Egypt, Jerusalem, Tel Aviv, Ramle, Kimberley, Western Australia, Mitre, Patagonia, Ki’ama Bahamas, Bahamas, South Africa, Hudson, Tuxedo Park, N.Y, Malibu , Calif, Mexico

U.S. hotel operators who have been grappling over the past year with an uneven recovery in Chinese demand are now benefiting from pent-up-demand throughout Asia Pacific, particularly in Greater China. "While macroeconomic uncertainty persists, it has not weighed on travel demand to date. In fact, demand continued to rise across all customer segments in the quarter," Marriott CEO Anthony Capuano said on a call with investors. In the Greater China region RevPAR rebounded to 95% of pre-pandemic levels during the quarter while Mainland China RevPar fully recovered to 2019 levels. "First quarter hotel performance came in a bit better than expected and will likely be the high-water mark for the year," said CoStar Group National Director of Hospitality Analytics Jan Freitag.

☆ 69% of people either failed or barely passed this Social Security quiz. Test your knowledge before you claim
▼ + stars: | 2023-05-02 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Most Americans nearing retirement expect Social Security to be their biggest source of income. About 43% of the 1,500 people surveyed do not know how much of their income will come from Social Security benefits. The results to that answer were "stunning" for a cohort so close to their retirement years, said David Freitag, a financial planning consultant and Social Security expert at MassMutual. The result: 69% either barely passed or failed. More than one-third — 35% — of respondents failed.

☆ You may face a 'stealth tax' on Social Security benefits, expert warns. These steps can help
▼ + stars: | 2023-04-05 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

The reason: More of their Social Security benefits may be taxed following a higher 5.9% cost-of-living adjustment in 2022. Unlike other tax thresholds, the Social Security income levels have not been adjusted for inflation since taxation of benefits began in 1984. Not moving the brackets or indexing them gradually exposes more and more people to income taxes on their Social Security benefits, according to David Freitag, a financial planning consultant and Social Security expert at MassMutual. The result is a "stealth tax," Freitag said. How Social Security benefits are taxedUp to 85% of Social Security benefits may be taxed, based on current tax rules.

While travel demand is roaring back, many hotels, airlines, cruise operators and airports are still racing to hire and train workers. That means the level of customer service will likely take a hit, industry experts say. One potential bright spot can be found at sea: During the summer, several cruise lines had to cancel voyages due to staffing shortages, but major disruptions have been largely resolved. “It’s highly unlikely your holiday cruise will be canceled due to lack of staffing,” said Colleen McDaniel, editor-in-chief of Cruise Critic, a Tripadvisor-run travel site. “This year, I moved my annual holiday travel to earlier in December,” said Abby Rhinehart, an educational researcher in Tucson, Arizona.

☆ As a record 8.7% Social Security cost-of-living increase starts in 2023, here's what beneficiaries should look for in annual statements
▼ + stars: | 2022-12-11 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Kathrin Ziegler | Digitalvision | Getty ImagesMonthly Part B premium payments are often deducted directly from Social Security checks. Due to the lower 2023 premiums, beneficiaries are poised to see more of the 8.7% increase in their monthly Social Security checks. "Of course, the economy is inflated at a frightful rate, but this represents the value of cost-of-living adjusted benefits from Social Security," Freitag said. What to look for in your Social Security statementJustin Paget | Digitalvision | Getty ImagesIf you're wondering how much more you stand to see in your checks, the personalized letter from the Social Security Administration will give you a breakdown of what to expect. Of note, you do not necessarily have to be receiving Social Security checks now to benefit from the record 2023 increase, Blair noted.

☆ Marriot shares slide on delayed opening of some properties in China
▼ + stars: | 2022-11-03 | by ( Priyamvada C | ) www.reuters.com time to read: +2 min

"The market in China is most certainly where we're seeing the most challenges," Chief Executive Anthony Capuano said during an analyst call. Revenue per available room (RevPAR) from Greater China was $64.06 in 2021 company-wide, behind U.S. & Canada and Middle East & Africa. "Looking forward we expect that the recession will mute, but not derail, growth in the U.S. hotel industry. Marriott now expects 2022 adjusted profit per share of between $6.51 and $6.58, compared with its previous forecast of $6.33 to $6.59 per share. Adjusted profit per share was $1.69, one cent above expectations.

☆ This Social Security quiz can help test how much you know about benefits before you claim
▼ + stars: | 2022-11-01 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

As inflation has pushed the cost of living higher, those eligible for Social Security retirement benefits may be tempted to claim benefits sooner than they had planned. Social Security beneficiaries stand to get a record 8.7% cost-of-living adjustment in 2023 that will help them contend with higher costs. But you should consider the amount of benefits you may receive based on your age. For most people approaching retirement now, age 67 is when they will receive their full benefits based on their earnings history. "There are definite rules, definite deadlines and definite dates that need to be met," said David Freitag, a financial planning consultant and Social Security expert at MassMutual.

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