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Editor's Note: Below is a complimentary excerpt from a recent institutional research note written on by our Gaming, Lodging, and Leisure (GLL) analyst Todd Jordan. If you are an institutional investor interested in accessing our research email sales@hedgeye.com |
There are a lot of travel surveys and we monitor most of them while also tracking real time bookings.
In this case, the survey data below came from a recent Expedia (EXPE) study which looked at consumer willingness to take trips across time. Some of the world’s biggest travel economies were included in the survey and the results were different across different continents.
Note that the EU might be slower to pull the trigger when it comes to taking leisure trips in Q1, but they’re also going to show the most pent up demand coming into Q2 and Q3, highlighted by Italy and the UK, two countries with some of the highest travel willingness %’s in Q3.
The US is sort of middle of the road, but consumers do seem to show a desire to get out on the road earlier than the EU countries.
While in LATAM and China there’s a higher propensity to start traveling right now, but the rate of change into the summer months appears a bit more muted.
Both EXPE and BKNG will benefit from solid leisure trends, but BKNG might see more of step up entering Q2 and Q3 given the customer base skewing more towards EU.
