Excerpt from Barrons
There’s good news for hotels in the latest travel search trends. After a year when consumers shifted to alternative properties like Airbnb and Vrbo homes, there is now evidence that they are returning to some of their old ways.
In an interview on Monday, Matthias Tillmann, chief financial officer at travel search site trivago, said that his company was noticing that more travelers were looking at hotels again.
“Last year, we saw a significant shift away from hotels to alternative accommodations,” he told Barron’s. “This year, with a pickup in volume, it has reversed a little bit, so the shift came down, but it’s still above 2019 levels. What we have seen so far this summer is that it’s between 2019 and 2020 levels.”
That rebound was also evident in recent results from Wyndham Hotels & Resorts (WH) and Hilton Worldwide Holdings (HLT).
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