'Lots of demand domestically, lots of demand internationally...[with] still some tightness in supply in air. Unfortunately, that means prices are going to stay high for the summer,' Expedia Group CEO Peter Kern told Yahoo Finance.
The travel industry is expected to stay hot this summer. That means no price relief for travelers."Lots of demand domestically, lots of demand internationally...[with] still some tightness in supply in air. Unfortunately, that means prices are going to stay high for the summer," he added.
Kern says some trends have returned to pre-pandemic levels, such as shorter length of stays and big cities popular again."More people want to travel generally. It’s not just revenge travel anymore," said Kern. In April, United Airlines reiterated its full-year guidance indicating “demand remains strong, especially internationally, where we are growing at twice the domestic rate.”
Days later, American Airlines' CEO Robert Isom told analysts,"We see a strong demand environment this summer, and we're highly confident that that will continue going forward. If there's one thing that the pandemic has taught us it's that people innately desire to travel."
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