Skift Take Does JetBlue’s surprise bid for Spirit make sense for the carrier’s network? At first glance, Wall Street didn’t think so. Madhu Unnikrishnan JetBlue Airways threw the airline world for a loop with a surprise bid for ultra-low-cost carrier Spirit Airlines, that may derail Spirit’s planned merger with Frontier Airlines. JetBlue’s $3.6 billion deal offers investors a...
Startups
13 Travel Startups Raise $600 Million in 2 Weeks
Twelve’s massive total fundraise of $645 million shows that the company is positioning itself for a future where alternative jet fuels aren’t just trendy, but essential. Skift has now reported 16 travel startups that have raised over $100 million so far this year.
Justin Dawes | 2 hours ago
Expedia Group Vice Chairman and CEO Peter Kern spoke with Skift Executive Editor Dennis Schaal at Skift Global Forum 2021. The two discussed the theme “Powering Travel Beyond the Booking to Boost Recovery.” You can watch a full video of their discussion as well as read a transcript of it, below. Dennis Schaal: Hey everybody. Don’t forget if you have questions for Peter ask them through the Skift...
Skift Take Online travel agencies and credit card companies — other than Chase — have Southwest-envy. Not having Southwest flights is a major hole in their travel offerings. Dennis Schaal Chase cardholders can book Southwest Airlines flights through the Chase Travel portal, and that’s a rarity for leisure travelers. You can’t do it through American Express, Citi or Capital One’s travel platforms...
Skift Take Mohammed bin Salman bin Abdulaziz creates a new development company to help realize his tourism sector dreams. Josh Corder The Public Investment Fund (PIF) of Saudi Arabia has formed another development company, Ardara, solely focused on the upcoming AlWadi destination. Launched by Mohammed bin Salman bin Abdulaziz, who serves as PIF’s chairman, Ardara adds to the crown prince’s...
Skift Take Airlines saw capacity and passenger traffic recover to pre-Covid levels and opened up their checkbooks to sign deals for their long-term future with new aircraft. Ajay Awtaney Global aviation had a dream run in 2023. Everything that went wrong during the pandemic seemed to reverse – and then some. It wasn’t all smooth. Airlines went bankrupt (Go First), mergers got announced (Hawaiian...
Skift Take Carnival Cruise executives don’t see the macroeconomic slowdown everybody is talking about. Dawit Habtemariam Carnival Cruise executives had their conference call to discuss third-quarter results Friday, and Wall Street analysts kept asking about the risk of a consumer slowdown. The answer was always the same: “We’re trying to say it as plainly as we can. We just have not seen...
Skift Take Both 2022 and 2023 were banner years for U.S. hotels. But owners and operators may face more headwinds when it concerns bottom-line profitability in 2024. Sean O’Neill Hoteliers in numerous U.S. markets in 2022 and 2023 found travelers happy to pay greater space rates post-pandemic. Robust rates allowed numerous operators to equal inflationary operational expenses and financial...
Daily Lodging Report
Leela Owner Files for an IPO
Schloss Bangalore, owner of The Leela hotel chain, has applied for a US$ 599 million IPO to money growth and financial obligation repayment, with Morgan Stanley, BofA Securities, JPMorgan, and Citi handling the problem.
4 hours back
Online Travel
10 Things We Learned at the Skift Global Forum
Executives speaking at this year’s Skift Global Forum used no shortage of viewpoints about the existing state and future of the travel industry, and here are a few of the most notable remarks.
Lex Haris, Sean O’Neill, Meghna Maharishi, Rashaad Jorden, Dawit Habtemariam, Justin Dawes, Skift|2 days ago