The Future of Travel in 175+ Charts

Skift Daily Briefing Podcast

Listen to the day’s top travel stories in under four minutes every weekday.

Good morning from Skift. It’s Monday, October 17. Here’s what you need to know about the business of travel today.

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Episode Notes

The travel industry is still struggling to recover from a near total shutdown during the heart of the pandemic. But its rebound has gotten a big boost from, among other developments, consumers increasingly able to fit travel into their work and personal lives. So what does the future hold for the travel industry? Skift Research staff delve into the topic and more in Skift Research’s extensive State of Travel 2022 Report.

The report, which features more than 175 data points and charts, takes a look at the industry's journey since the start of the pandemic and its path going forward. It also examines significant trends in travel, with Borko adding that while some regions and sectors have fully recovered from the pandemic, others have been unable to do so.

Next, major hotel companies have often focused on expanding their portfolios as rapidly as possible for marketing reasons. But Montage International is taking the opposite approach, choosing to grow gradually despite its expansion plans, reports Senior Hospitality Editor Sean O’Neill.

Montage International is opening the Pendry DC, the 14th property in its portfolio, later this month. The company, which runs the Pendry and Montage brands, is also slated to open hotels in the near future in New Jersey and California, among other destinations. But despite its expansion plans, Montage International CEO Alan Fuerstman said the company is taking a measured approach to growth. Fuerstman added that Montage International views success as providing consistent quality instead of adding a specific number of properties to its portfolio.

Finally, more airlines are upgrading their products to take advantage of surging interest in premium leisure travel. Lufthansa and American Airlines are among them, with both carriers investing billions in lucrative premium seats, reports Edward Russell, Editor of Airline Weekly, a Skift brand.

Lufthansa unveiled on Friday, as part of its $2.4 billion investment in onboard products, a suite of premium seats named Allegris. Allegris, which includes new first class and business class suites, will be installed on more than 100 Lufthansa jets. Meanwhile, American Airlines recently unveiled new business class suites and premium economy seats for its long-haul fleet.

Russell notes Lufthansa and American among a growing number of carriers offering more premium leisure products. Skift identified the rise of premium leisure travel as a 2022 travel megatrend.