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☆ Business travel spending is recovering quicker than expected. These are the stocks to buy right now
▼ + stars: | 2023-09-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

There have been some encouraging signs that business travel is rebounding to pre-Covid spending levels sooner than anticipated, according to the Global Business Travel Association . Business travel was essentially shut down during the Covid pandemic, with many predicting a slow slog to revive sales and a landscape that would be permanently changed. Now the organization is predicting global business travel spending will surpass its 2019 spending level of $1.4 trillion in 2024, compared with its earlier forecast of 2026. Some 28% of those who make the business travel decisions and 32% of those in charge of company travel budgets said their workplace will increase business travel in the coming year, Morning Consult found. Of course, the recovery in business travel can also shift if there are changes in the economic environment.

Persons: Lindsey Roeschke, Roeschke, That's, Michael Linenberg, Linenberg, Patrick Scholes, Scholes, — CNBC's Michael Bloom Organizations: Global Business Travel Association . Business, Morning, Deutsche Bank, CNBC, American Airlines, Delta Air Lines, United Airlines, Ryman Hospitality Properties, Ole Opry, Hospitality, Hyatt Hotels Locations: Delta

☆ NCAA Football: Why you should cherish this college football season
▼ + stars: | 2023-08-31 | by ( Andy Scholes | ) edition.cnn.com time to read: +5 min

CNN —When it comes to tradition, passion and rivalries, there is nothing quite like college football. Stetson Bennett of the Georgia Bulldogs celebrates winning the College Football National Championship game in January. Legendary broadcaster Brad Nessler, who has called college football games all over the country for 30 years, said the Pac-12’s demise is a loss for the sport. The Super Conference eraNext year will mark the Super Conference Era for college football. Everybody makes the playoffsThe 2023 season will be the last for college football with just four playoff teams.

Persons: Stetson Bennett, Ezra Shaw, “, Brad Nessler, you’ve, it’s, ”, “ You’re, Pat Chun, Katelyn Mulcahy, Chun, Mike Gundy, Gundy, Michael Ezeike, Harry, Sam Wasson, you’re Organizations: CNN, ESPN, Fox, USC, UCLA, Georgia Bulldogs, College Football, Rutgers, Washington, Oregon State . Washington State, USC Trojans, San Jose State Spartans, Conference, Southeastern Conference, SEC, Atlantic Coast Conference, ACC, Oklahoma State, Oklahoma, UCLA Bruins, Texas Tech, Stanford, Apple, Washington State, Oregon, Texas, LSU, Florida State, Pittsburgh Panthers, Sun Bowl, Tulane, Boise State Locations: Texas, Oklahoma, Colorado, Arizona, Arizona State, Utah, Washington, Oregon, Stanford, California, Washington State, Alabama, El Paso , Texas, Boise, Cincinnati

The logo of the company Royal Caribbean is seen on the 'Wonder of the Seas' cruise ship, the world’s largest cruise ship, docked at a port in Malaga, southern Spain, April 30, 2022. Cruise operators lowered prices to lure passengers onboard following the pandemic, banking on onboard spending that has now reached record levels. Onboard spending in the second quarter rose 49.9% for Norwegian Cruise Lines (NCLH.N), compared with the same period in 2019, before the pandemic. Onboard spending rose about 36.8% for Royal Caribbean Cruises and 17.2% for Carnival in the same period. Carnival and Royal Caribbean said the percentage of guests who were new to cruising surpassed 2019 levels.

Persons: Jon Nazca, Patrick Scholes, Josh Weinstein, Bob Levinstein, Cruise, Carnival's Weinstein, Jason Liberty, Brandt Montour, Granth, Anil D'Silva Organizations: Royal, REUTERS, Royal Caribbean Cruises, Carnival Corp, Carnival, Cruise, Norwegian Cruise Lines, DISNEY WORLD, Walt Disney, Custom Travel, Reuters Graphics, Cruise Lines International, . Carnival, Barclays, Thomson Locations: Royal Caribbean, Malaga, Spain, U.S, Caribbean, Orlando , Florida, They've, Bengaluru, Doyinsola, New York

The Norwegian Pearl cruise ship is seen docked at Miami port, after Norwegian Cruise Line Holdings Ltd cancelled sailings amid rising fears of Omicron-related coronavirus infections, in Miami, Florida, U.S. January 5, 2022. Rival Royal Caribbean (RCL.N) last week forecast an upbeat third-quarter profit as well as lifted its annual profit expectations. Norwegian Cruise forecast its annual adjusted EBITDA, a key measure of profitability, between $1.85 billion and $1.95 billion, up from $1.80 billion to $1.95 billion previously. Despite undertaking price hikes on its itineraries, Norwegian Cruise has been bogged down by inflation and higher labor costs. Rival Carnival (CCL.N) has also forecast third-quarter profit below estimates on higher costs.

Persons: Marco Bello, Patrick Scholes, Royal, Harry Sommer, Norwegian's, Granth, Shinjini Organizations: Cruise Line Holdings Ltd, REUTERS, Reuters, Cruise, Royal, Truist Securities, Norwegian Cruise, Thomson Locations: Norwegian, Miami, Miami , Florida, U.S, Royal Caribbean, Bengaluru

☆ Cruises are increasingly adopting the strategy of budget airlines: Get ready to pay more for all the extras.
▼ + stars: | 2023-07-30 | by ( Brittany Chang | ) www.businessinsider.com time to read: +9 min

Cruise lines are seemingly adopting the budget airline model: Charge a base fare and pile on extras. Newer cruise ships have "more opportunities to upsell" with restaurant and entertainment options. In fact, cruise lines have told their investors recently that passengers are embracing these add-on costs — and enhancing their bottom lines. "Cruise lines are creative to try to make you forget you actually bought some things nine months ago," Scholes said. Cruise lines are trying to cut costs at the same timeThe cost of drink packages have been increasing on some cruise lines.

Persons: Brittany Chang, Patrick Scholes, Guy, Scholes, Silversea, It's, it's, Josh Weinstein, Tynan Smith, Kara Wallace, Royal Organizations: Cruise, New, Truist Securities, Norwegian Cruise Line, MSC Cruises, Royal, Royal Caribbean Group, Royal Caribbean, Carnival Corp, Street Journal, UBS, Royal Caribbean's Locations: New York City, Norwegian, Royal Caribbean, Royal, Brittany

☆ Wall St sees bargains and lure of Europe buoying cruise, hotel earnings
▼ + stars: | 2023-07-24 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +4 min

Passenger ticket and onboard spending revenue is expected to increase 66% and 36%, respectively. Cabin bookings in the second quarter were up 58% compared to this time last year. For Carnival, booking volumes in the second quarter were 17% higher than in 2019, Carnival CEO Josh Weinstein told investors in June. Meanwhile, investors will be watching if record nightly rates for on-shore accommodations can offset revenue in the second quarter. Hotel and short-term rental rates were about 18% and 35% more expensive in the second quarter than in 2019, according to analytics firms CoStar and AirDNA.

Persons: Brandt Montour, McKinsey, Sylvia Jablonski, Patrick Scholes, Josh Weinstein, AirDNA, Hilton, Doyinsola Oladipo, Granth, Susan Heavey Organizations: YORK, Investors, Hilton Worldwide Holdings, Royal Caribbean Cruises, Barclays, Royal, Carnival Corp, Cruise Line Holdings, Airlines, Cruises, Cruise, Truist Securities, Thomson Locations: Europe, United States, AirDNA . U.S, Asia, New York, Bangalore

☆ Patrick Mahomes and Travis Kelce claim upset victory over NBA’s Stephen Curry and Klay Thompson in ‘The Match’
▼ + stars: | 2023-06-30 | by ( George Ramsay | Homero De La Fuente | ) edition.cnn.com time to read: +3 min

CNN —With the Super Bowl heading to Las Vegas next year, could Patrick Mahomes and Travis Kelce’s unlikely golfing victory in Sin City be an auspicious sign for the Kansas City Chiefs? Mahomes and Kelce pulled off an upset 3 and 2 win against NBA stars Steph Curry and Klay Thompson in the eighth edition of “The Match” charity golf event, this year staged at Wynn Golf Club in Vegas. Quarterback Mahomes and tight end Kelce entered Thursday’s 12-hole game against their NBA counterparts as heavy underdogs, particularly given Curry’s prowess on the golf course. Mahomes and Kelce completed their victory on the next hole as the tight end – despite heckles from the side of the green – drained his close-range putt. The series started in 2018 when Tiger Woods and Phil Mickelson went head-to-head at Shadow Creek Golf Course in North Las Vegas.

Persons: Patrick Mahomes, Travis Kelce’s, Kelce, Steph Curry, Klay Thompson, ” Kelce, Andy Scholes, Quarterback Mahomes, ’ Curry, Ezra Shaw, Curry, Thompson, Trav, ”, “, Steph’s, Klay, Tom Brady, Aaron Rodgers, Mahomes, Josh Allen, Tiger Woods, Phil Mickelson Organizations: CNN, Kansas City Chiefs, NBA, Wynn Golf Club, Chiefs, Golden State Warriors, Getty, TNT, Warner Bros, HBO, TBS Locations: Las Vegas, Sin City, Vegas, United States, North Las Vegas

☆ Cruise stocks soar as industry rebounds. Here's what analysts expect to happen next
▼ + stars: | 2023-06-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +9 min

Carnival and Norwegian Cruise Line hit 52-week highs Wednesday, while Royal Caribbean did so Tuesday. RCL YTD mountain Royal Caribbean year to date For Farley, Royal Caribbean stands out because it has about 64% of its cruises in the Caribbean, a strong market. Investors now may be waiting to see if there will be more price target increases from analysts after the latest run up. Royal Caribbean has 3% downside to the average analyst price target of $92.77 as of Tuesday's close, per FactSet. Carnival has 21% downside to its average price target of $12.11, and Norwegian has 15% downside to its $16.60 average price target.

Persons: It's, Jason Liberty, Patrick Scholes, Robin Farley, Matthew Boss, Bank of America's Andrew Didora, Josh, Didora, Farley, Truist's Scholes, James Hardiman, Greg Badishkanian, Scholes, Managements, Boss, CNBC's Michael Bloom, Josh Weinstein Organizations: shutdowns, Wall Street, Cruise Line, Royal, CNBC, Royal Caribbean, JPMorgan Chase, Bank of America, CCL, Bank of America's, UBS, Argus Research, Citi, Wolfe Research, JPMorgan, Investors Locations: Royal Caribbean, U.S, Miami, Tuesday's, Caribbean, Norwegian

☆ U.S. travel companies experience high demand but economic worries cloud outlook
▼ + stars: | 2023-02-24 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +3 min

NEW YORK, Feb 24 (Reuters) - Fears of recession and the impact of inflation on consumer budgets could curb a rebound in travel demand reported by U.S. travel companies in the fourth quarter, although bookings are holding up so far this year, analysts said. U.S. travel spending in December 2022 totaled $97 billion, 3% above 2019 levels and 7% above 2021 levels, according to the U.S. Travel Association. The demand contrasts with declining home improvement sales and other discretionary purchases that have hurt furniture stores and retailers like Home Depot. International travel spurred demand growth for Airbnb and Marriott International Inc (MAR.O) in the fourth quarter. Group bookings are still down 15% compared to pre-pandemic levels, while headwinds in several industries continue to affect business travel, said Truist's Scholes.

☆ Cruise lines are raising gratuity and other fees amid a historic flood of cheap cruises
▼ + stars: | 2023-02-18 | by ( Brittany Chang | ) www.businessinsider.com time to read: +3 min

Cruise lines like Carnival and Norwegian have either raised daily gratuities, WiFi fees, or both. Cruise lines have seen an increase in onboard spending as they continue to add more premium amenities and dining. Others, like Norwegian Cruise Line, are raising the daily tip rate up to $5 for passengers staying in higher-end staterooms and suites. Meanwhile, Carnival has raised both daily gratuity and WiFi fees, the latter by $5 for premium WiFi. An increase in WiFi fees is just a "natural inflationary price increase," Patrick Scholes, an analyst at Truist Securities, told Insider.

☆ Hotel stocks normally benefit from large airline cancellations like Southwest, says Truist's Scholes
▼ + stars: | 2022-12-28 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHotel stocks normally benefit from large airline cancellations like Southwest, says Truist's ScholesPatrick Scholes, Truist Securities managing director, and CNBC's Leslie Josephs join 'The Exchange' to discuss Southwest Airlines flight cancellations and how it impacts the sector.

Last year, the industry handed out the biggest awards since 2006 as the economy roared back from the pandemic. It's a head-spinning reversal for dealmakers who racked up record profits for their firms last year and clinched eye-watering payouts for themselves. Compensation for FICC traders will probably rise slightly or stay flat, said Bell at Sheffield Haworth, while stock traders could see a small drop. Worsening economic conditions have already prompted firms including Morgan Stanley (MS.N) and Citigroup Inc (C.N), to trim their workforces. In the United Kingdom, most big firms are discussing and allocating bonuses now, with decisions not usually announced until early next year.

☆ Debt-loaded cruise lines' shares fall as Fed hikes rate and recession fears grow
▼ + stars: | 2022-09-23 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

He also noted the debt cruise companies racked up while their ships were anchored during the pandemic. As of Sept. 1, Truist estimates that Carnival holds $35 billion in debt, Royal Caribbean has $25 billion and Norwegian owes $14 billion. Norwegian, Carnival and Royal Caribbean did not respond to request for comment. But between high interest expenses and revenues that are still recovering, he said none of the cruise companies are yet "out of the woods." Carnival shares are down about 55% this year, while Norwegian stock is down about 35% and Royal Caribbean has fallen about 43%.

☆ Cruise companies have much stronger pace of bookings than June and July, says Truist's Scholes
▼ + stars: | 2022-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCruise companies have much stronger pace of bookings than June and July, says Truist's ScholesPatrick Scholes, Truist lodging and leisure analyst, joins 'Power Lunch' to discuss why Truist decided to upgrade Norwegian Cruise Line, why all the cruise line companies are trading lower in Tuesday's action and the bifurcation between Wall Street and Main Street's view of a recession.

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