Business travellers have returned, Expedia CEO Peter Kern said on CNBC on Monday. He prophesied they would make a comeback during the gloomy Covid epidemic in late 2020, and that day has come.
“You’re in Seattle right now. And I’m constantly on the move. So I believe business travel is returning. I predicted that business travel would resume from the beginning. In an interview with Jim Cramer, who was in the hometown of Expedia for “Mad Money,” Kern stated that they were “seeing it everywhere.”
Today’s date shows that it has, according to Kern. People are moving around like crazy. You already know that if you’ve been to an airport. Everybody is griping about it. They are overcrowded and understaffed.
Expedia and American Express Global Business Travel reached an agreement to sell Expedia’s business travel division last year. As part of the agreement, Expedia formed a long-term strategic alliance with Amex GBT and became a shareholder in that company.
The Expedia service that bears Kern’s name is also run by his business, along with others in the travel industry like Hotels.com, Hotwire, Travelocity, and Orbitz. Vacation rentals by owner, or Vrbo, is another project of the same corporation. It is in opposition to Airbnb.
With all those businesses housed under one roof, Kern and Expedia undoubtedly have a finger on the tourism industry’s pulse. The CEO reported a spike in travel. “There is no denying that it has been powerful throughout the summer and into September. There doesn’t seem to have been much of a break,” he remarked.