Record profits don’t necessarily mean it’s time to buy. Barceló has the cash to acquire hotels but says today’s prices no longer justify the returns it expects.
The index fell to 97 in May, but this does not indicate that people have stopped traveling; travelers have just become more selective about where they spend their money.
Franchise agreements, like casinos, tend to favor the house. Now, as a generation of hotel contracts begin to expire, some owners are deciding to walk away from the table.
Apple is turning Wallet from a place to store hotel keys into a live trip surface. Disney shows how far that could go when a pass starts carrying more of the trip.