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Below is an excerpt from a complimentary research note by our Gaming, Lodging & Leisure analysts Todd Jordan and Sean Jenkins. For more GLL research, check out Gaming, Lodging & Leisure Pro. |
Forward-looking commentary from some travel related management teams on their Q2 earnings calls pointed a late July reacceleration and the return of outbound travel.
The latest data out of the Dominican Republic and the World Tourism Organization indicated that travel arrivals to the country in July were up 24% vs ‘19 levels, putting the country on course for its best year on record in terms of tourism receipts.
That country has now experienced record arrival numbers for the fourth straight month, a positive readthrough into ongoing leisure trends and outbound demand from the US.
While just a small sample size, this further corroborates other high frequency data and what many operators had expressed on their earnings calls over the past few weeks.
Through early August, flight search trends to the Dominican from the United States are pacing ~40% higher vs ’19, pointing to a continued strength from an already strong July. To address this trend, EXPE remains our go-to travel and OTA horse.
