Newswise — Travel companies like Airbnb and Marriott International are forecasting a slowdown in leisure travel as U.S. consumers cut spending amid economic uncertainty. According to Reuters, travel companies warned investors that U.S. bookings in the third quarter will be flat. Companies like Airbnb and an online travel agency said they’re both seeing slowing growth in the U.S., where consumers are either trading down for lower-priced options or booking trips at the last minute.
If you’re looking for more context on this matter, please consider Jungho Suh, a teaching assistant professor of management at the George Washington University School of Business. His areas of expertise include service management, diversity, equity, and inclusion, entrepreneurship, human resource issues in the service industry, sustainability & ESG reporting in the travel industry, digital platforms in tourism & hospitality, and gastronomy tourism.
Suh has published research on a number of topics related to Airbnb, including on the role of customer engagement in Airbnb user experience, a cross-cultural study on the social and economic benefits of Airbnb, and Airbnb service quality.
"Airbnb shares plummeted after the company missed analyst expectations and its consensus estimate in the stock market, indicating a slowdown in U.S. demand and shorter booking lead times worldwide. Amid widespread economic recession fears in the travel industry, Airbnb decision-makers need to shift away from a short-term trader's mindset,” Suh says.
“Instead, they should focus on the robust long-term fundamentals and macro trends in the travel industry and consumer sentiment when planning their next strategic move. One potential solution to overcome the weak revenue outlook could be to offset their business with profits from international markets and allocate more resources to B2B business travel, as Uber has successfully done."
If you would like to speak with Professor Suh, please contact GW Senior Media Relations Specialist Cate Douglass at [email protected].
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