Expedia Dropped on its earnings today. As the company warned in a slow down in travel. The stock gapped down after gapping up last quarter as the 4th quarter was estimated to be strong.
Global Travel has rebounded strongly after the Covid Shut down of 2020 and strict travel rules in most countries in 2021 and 2021. 2023 was about the first year that almost every country in the world lifted restrictions and led to a surge in travel, in most countries travel is now higher than its pre covid peaks. Most travel companies from booking companies such as Expedia and AirBNB to Hotels to Airlines saw double digit growth in 2023. However, now most are expecting slow down
Recently, Marriott suggested that growth would only be 3 to 5 percent in 2024 and Hilton 2 to 4 percent in 2024 . This is down from double digit growth in each company last year . Therefore, it does look like travel will see a slow down in 2024 from 2023’s high growth level!