Expedia Group said Friday that reduced travel demand in the United States led to its weaker-than-expected revenue in the first quarter, and Bank of America said credit card transactions showed spending on flights and lodging kept falling last month.
The two reports add to growing indications that the U.S. travel and tourism industry may see its first slowdown since the end of the COVID-19 pandemic fueled a period of “revenge travel” that turned into sustained interest in getting away.
kAmtIA65:2[ H9:49 @H?D E96 =@58:?8 C6D6CG2E:@? A=2E7@C>D k2 9C67lQ9EEAi^^w@E6=D]4@>Qmw@E6=D]4@>k^2m 2?5 ‘#q~ 2D H6== 2D 2? 6A@?J>@FD @?=:?6 EC2G6= 286?4J[ H2D E96 =2E6DE p>6C:42? 4@>A2?J E@ C6A@CE D=@H:?8 3FD:?6DD H:E9 3@E9 :?E6C?2E:@?2= G:D:E@CD 2?5 5@>6DE:4 EC2G6=6CD]k^Am
kAmp:C3?3 2?5 w:=E@? ?@E65 E96 D2>6 EC6?5D =2DE H66< 😕 E96:C BF2CE6C=J 62C?:?8D C6A@CED] |@DE >2;@C &]$] 2:C=:?6D AF==65 E96:C 7F==\J62C 7:?2?4:2= 8F:52?46 😕 pAC:= 2?5 D2:5 E96J A=2??65 E@ C65F46 D4965F=65 7=:89ED[ 4:E:?8 2? 633 😕 64@?@>J A2DD6?86CD 3@@<:?8 =6:DFC6 EC:AD]k^Am
kAm%96 &]$] %C2G6= pDD@4:2E:@? 92D D2:5 E92E 64@?@>:4 F?46CE2:?EJ 2?5 2?I:6EJ @G6C !C6D:56?E s@?2=5 %CF>AVD E2C:77D >2J 6IA=2:? E96 AF==324<] x? pAC:=[ p>6C:42?D’ 4@?7:56?46 😕 E96 64@?@>J D=F>A65 7@C 2 7:7E9 DEC2:89E >@?E9 E@ E96 =@H6DE =6G6= D:?46 E96 @?D6E @7 E96 A2?56>:4]k^Am
kAmq2?< @7 p>6C:42 D2:5 uC:52J E92E :ED 4C65:E 42C5 9@=56CD H6C6 H:==:?8 E@ DA6?5 @? “?:46 E@ 92G6” D6CG:46D =:<6 62E:?8 2E C6DE2FC2?ED 😕 |2C49 2?5 pAC:=[ 3FE “3:886C E:4<6E 5:D4C6E:@?2CJ @FE=2JD @? 2:C72C6 2?5 =@58:?8 4@?E:?F65 E@ 564=:?6[ A@DD:3=J 5F6 E@ 564=:?:?8 4@?DF>6C 4@?7:56?46 2?5 H@CC:6D 23@FE E96 64@?@>:4 @FE=@@<]”k^Am
kAmp3C@25[ 2?86C 23@FE E96 E2C:77D 2D H6== 2D 4@?46C? 23@FE E@FC:DE 56E6?E:@?D 2E E96 &]$] 3@C56C 92G6 >256 4:E:K6?D @7 D@>6 @E96C 4@F?EC:6D =6DD :?E6C6DE65 😕 EC2G6=:?8 E@ E96 &]$][ E@FC:D> :?5FDECJ 6IA6CED D2J]k^Am
kAm%96 &]$] 8@G6C?>6?E D2:5 =2DE >@?E9 E92E f]` >:==:@? G:D:E@CD 6?E6C65 E96 &]$] 7C@> @G6CD62D E9:D J62C 2D @7 E96 6?5 @7 |2C49[ b]bT 76H6C E92? 5FC:?8 E96 7:CDE E9C66 >@?E9D @7 a_ac]k^Am
kAm%96 ?F>36CD 5:5 ?@E :?4=F56 =2?5 4C@DD:?8D 7C@> |6I:4@ @C EC2G6= 7C@> r2?252[ H96C6 4:E:K6?D 92G6 6IAC6DD65 :?5:8?2E:@? @G6C %CF>AVD C6>2C<D 23@FE >2<:?8 E96:C 4@F?ECJ E96 d`DE DE2E6] q@E9 &]$] 2?5 r2?25:2? 8@G6C?>6?E 52E2 92G6 D9@H? DE66A 564=:?6D 😕 3@C56C 4C@DD:?8D 7C@> r2?252]k^Am
kAmtIA65:2 r9:67 u:?2?4:2= ~77:46C $4@EE $496?<6= D2:5 E96 ?6E G2=F6 @7 E96 EC2G6= E649?@=@8J 4@>A2?JVD 3@@<:?8D :?E@ E96 &]$] 76== fT 😕 E96 y2?F2CJ\|2C49 A6C:@5[ 3FE 3@@<:?8D E@ E96 &]$] 7C@> r2?252 H6C6 5@H? ?62C=J b_T]k^Am
kAmx? 2 4@?76C6?46 42== H:E9 :?G6DE@CD uC:52J[ tIA65:2 rt~ pC:2?6 v@C:? D2:5 &]$] 56>2?5 H2D 6G6? D@7E6C 😕 pAC:= E92? |2C49]k^Am
kAm“(6’C6 DE:== 4@?E:?F:?8 E@ D66 AC6DDFC6 @? EC2G6= :?E@ E96 &]$][ 3FE H6’G6 2=D@ D66? D@>6 C632=2?4:?8[” v@C:? D2:5] “tFC@A62?D 2C6 EC2G6=:?8 =6DD E@ E96 &]$][ 3FE >@C6 E@ {2E:? p>6C:42]”k^Am
kAm$62EE=6\32D65 tIA65:2 D2:5 :ED C6G6?F6 C@D6 bT E@ Sa]hh 3:==:@? 7@C E96 BF2CE6C] %92E H2D =@H6C E92? E96 Sb 3:==:@? (2== $EC66E H2D 6IA64E:?8[ 244@C5:?8 E@ 2?2=JDED A@==65 3J u24E$6E]k^Am
kAmtIA65:2 D92C6D H6C6 5@H? E92? fT 😕 >:5\52J EC25:?8 uC:52J]k^Am
kAmp:C3?3 D2:5 =2DE H66< E92E 7@C6:8? EC2G6= E@ E96 &]$] >2<6D FA @?=J aT E@ bT @7 :ED 3FD:?6DD] qFE H:E9:? E92E 42E68@CJ[ :EVD D66:?8 564=:?:?8 :?E6C6DE 😕 E96 &]$] 2D 2 56DE:?2E:@?]k^Am
kAm“x E9:?< r2?252 😀 E96 >@DE @3G:@FD 6I2>A=6[ H96C6 H6 D66 r2?25:2?D 2C6 EC2G6=:?8 2E 2 >F49 =@H6C C2E6 E@ E96 &]$] 3FE E96J’C6 EC2G6=:?8 >@C6 5@>6DE:42==J[ E96J 2C6 EC2G6=:?8 E@ |6I:4@[ E96J 2C6 8@:?8 E@ qC2K:=[ E96J’C6 8@:?8 E@ uC2?46[ E96J’C6 8@:?8 E@ y2A2?[” p:C3?3 r9:67 u:?2?4:2= ~77:46C t==:6 |6CEK D2:5 😕 2 4@?76C6?46 42== H:E9 :?G6DE@CD]k^Am
kAm|62?H9:=6[ w:=E@? =@H6C65 :ED 7F==\J62C 7@C642DE 7@C C6G6?F6 A6C 2G2:=23=6 C@@>[ 2 <6J :?5FDECJ >6EC:4] %96 4@>A2?J D2:5 😕 =2E6 pAC:= E92E :E ?@H 6IA64ED 8C@HE9 @7 _T E@ aT 7@C E96 J62C[ 5@H? 7C@> aT E@ bT]k^Am
kAmw:=E@? !C6D:56?E 2?5 rt~ r9C:DE@A96C }2DD6EE2 E@=5 DE@4< 2?2=JDED E96 4@>A2?J D2H :?E6C?2E:@?2= EC2G6= E@ :ED &]$] 9@E6=D 72== E9C@F89@FE E96 7:CDE BF2CE6C[ A2CE:4F=2C=J 7C@> r2?252 2?5 |6I:4@]k^Am
kAmqFE }2DD6EE2 D2:5 96 C6>2:?65 @AE:>:DE:4 7@C E96 D64@?5 92=7 @7 E9:D J62C]k^Am
kAm“|J @H? 36=:67 😀 J@F H:== D66 D@>6 @7 — :7 ?@E 2 =@E @7 — E92E F?46CE2:?EJ H2?6 @G6C E96 ?6IE 4@FA=6 @7 BF2CE6CD[ 2?5 E92E H:== 2==@H E96 F?56C=J:?8 DEC6?8E9 @7 E96 64@?@>J E@ D9:?6 E9C@F89 282:?[” 96 D2:5]k^Am
