Travel Market Insights
Booking’s Credit Card, Marriott’s Slower Growth and Spain’s Rental Crackdown
Good morning from Skift. It’s Wednesday, August 6. Here’s what you need to know about the business of travel today.
Booking.com has soft-launched its first credit card in the U.S., the Booking.com Genius Rewards Visa Signature Credit Card, reports Executive Editor Dennis Schaal.
Schaal writes the rewards card should help Booking.com increase direct bookings and build its U.S. business. The card issues travel credits instead of offering points and miles, common with airline and hotel co-branded cards.
Cardholders would receive 6% in travel credits for hotels and short-term rental stays booked via the Booking.com app, and 5% on all other travel purchased on Booking.com.
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Next, Marriott has trimmed its full-year forecast after a sluggish second quarter, writes Senior Hospitality Editor Sean O’Neill.
The company’s overall global growth for revenue per available room was only 1.5% while it was flat in the U.S. and Canada. O’Neill notes Marriott’s main drag was a weak U.S., which was partly the result of uncertainty from the Trump tariffs and partly because of when Easter fell this year. Marriott also saw a drop in government travel.
Marriott now projects between 1.5% and 2.5% revenue per available room growth for the full year, down from its previous forecast of up to 3.5% growth.
Finally, Spanish authorities are preparing to delist thousands of unregistered short-term rentals, writes Contributor Ian Mount.
Spain’s housing ministry will soon enforce a 2024 law requiring all short-term rentals to display a unique rental registration number. Properties that don’t comply will be removed from major platforms like Airbnb. The first listings will be removed from platforms in mid-August after property owners are given a 10-day grace period to appeal.
Mount notes that many owners appear to have delayed applying for their rental registration number until the last minute, creating processing backlogs.
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Airbnb CEO Brian Chesky said during the company’s second-quarter earnings call Wednesday that it is still “feeling out” the possibility of working with the big AI chatbots like ChatGPT, which he called “an incredibly compelling product.”
“We’re certainly open to” integrating with major AI Chatbots, which could be a source of lead generation for Airbnb, Chesky said.
Unlike Booking.com, which has partnerships with OpenAI, Amazon Web Services and Microsoft and sees generative AI chatbots as a new distribution channel, Airbnb has made no decisions yet about selling stays, Services or Experiences through major AI assistants.
AI Chatbots Are
Key Points
- Airbnb relaunched its Experiences and introduced new Services, showing promising early results with 60,000 host applications.
- The company reported strong Q2 financials, including 13% revenue growth (to $13.1 billion) and a 16% rise in net income, outpacing expectations.
- AI-powered customer service has been expanded to all U.S. users, reducing the need for human agents by 15%, with plans for further global rollout.
Summary
Airbnb reported strong second-quarter financial results, highlighted by the positive early performance of its relaunched Experiences and new Services segment, which allow guests to book additional amenities. The company saw a 7% year-over-year increase in nights and seats booked, significant revenue and net income growth, and notable international expansion, particularly in markets like Japan. Additionally, Airbnb expanded AI-powered customer service to all U.S. users, reducing human support needs, with global rollout planned.
Southwest Airlines flights will now be available to book on Priceline, making it the second online travel agency to partner with the Dallas-based carrier.
The two companies announced the partnership on Wednesday, and through the deal, Southwest flights will also be available across Booking Holdings platforms, which include Booking.com and Agoda.
Southwest customers will be able to compare fare bundles and earn Southwest Rapid Rewards points, along with Pricelin
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