NYC Short-Term Rentals, Disney Parks Growth and British Airways Loyalty
Skift Take
Key Points
- New York City's enforcement of Local Law 18 has reduced short-term rentals and major booking platforms are complying.
- Disney aims to expand its cruise fleet and theme parks, with a 30% revenue increase in its Parks & Experiences unit over five years.
- British Airways is improving customer messaging following controversial changes to its loyalty program, including a new microsite and videos.
Summary
The article discusses key developments in the travel industry, including New York City's effective enforcement of Local Law 18, which has reduced illegal short-term rentals with compliance from major platforms. Disney is focusing on expanding its cruise fleet and theme parks, reporting a 30% revenue increase in its Parks & Experiences unit over five years. British Airways is working on better communication with customers after controversial loyalty program changes by launching a microsite and videos to explain these updates.
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The head of a New York City agency that regulates short-term rentals in the Big Apple believes enforcement of a law to crack down on illegal rentals is working, reports Executive Editor Dennis Schaal.
Christian Klossner, the executive director of the New York City Office of Special Enforcement, said the agency was inundated with registration applications prior to the passage of Local Law 18, which greatly reduced the number of short-term rentals in the city. Klossner added the registration law has made rental compliance manageable for the agency although it acknowledges some illegal activity is still occurring.
Klossner also said major booking platforms — such as Airbnb, Vrbo, and Booking.com — have been complying with Local Law 18.
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Next, the Walt Disney Company is confident that it can successfully expand its cruise fleet, increase visitor numbers at theme parks, and maintain premium pricing at its properties, writes Senior Hospitality Editor Sean O’Neill and Global Tourism and Experiences Reporter Jade Wilson.
While Disney faces numerous challenges in trying to accomplish several goals at once, O’Neill and Wilson note early signals are promising. Disney’s Park and Experiences unit has posted a 30% revenue increase over five years. Disney also has more advanced bookings now than at this point the previous quarter despite the company hiking single-day theme park tickets by nearly 6%.
Chief Financial Officer Hugh Johnston told analysts during its first-quarter earnings call that Disney believes its overall Parks & Experiences division will grow between 6% and 8% this year.
Finally, British Airways is looking to improve its messaging to customers after recent controversial changes to its loyalty program that weren’t well received, writes Airlines Editor Gordon Smith.
British Airways announced last December it was transitioning to a revenue-based system for awarding status, changes some critics have argued were poorly relayed to travelers. So, the company has launched a new microsite and series of short videos to help communicate those changes to customers.
In addition, Smith notes British Airways has taken some measures to help make achieving status easier, including a return to earning status based on the number of flights traveled.
Photo Credit: An Airbnb advertisement on a street in New York City. Skift
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