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, ”