The Travel Top 10

OPENING COMMENTARY

Cruise Industry Sails Into Record 2024, Stock Gains

The cruise industry continues to sail to new heights. After the COVID-19 rebound, many predicted the surge would be temporary — but the data has shown that crusing momentum has no sign of slowing.

Over 36 million people are expected to set sail in 2024, according to the Cruise Lines International Association (CLIA). (Consider this comparison, that 41 million people visit Vegas each year!).

We see the momentum for cruising to continue for two main reasons:

1. Economic Slowdown? - “In good times people want a deal, and in bad times people need a deal” - The economic landscape is a bit fit fuzzy with a potential slowdown, higher interest rates, and projected higher unemployment. Any economic slowdown would be favorable to the cruise industry which is promotion driven and offers a better value for the consumer versus alternative vacations.

2. Loyalty - With a projected 4 million new-to-cruise passengers from 2023-2025 (CLIA), the loyalty base and opportunity for follow-up cruises and re-marketing continues to grow. As an example of future growth, and to keep up with demand, MSC Cruises unveiled a record number of U.S. Ships and homeports for the 2025/2026 seasons.

Industry insiders share the enthusiasm for the industry. Matthew Eichhorst, President of Expedia Cruises, shared with Travel Today, “The product experience is better than ever with all the new ships and lines. With air travel prices falling, people are eager to travel.”

Looking ahead, J.P. Morgan Research latest Cruise Outlook estimates the cruise industry will capture around 3.8% of the $1.9 trillion global vacation market by 2028, translating to a staggering $72 billion. This is a significant increase from the current market share of around 2.6%, reflecting the growing consumer interest in cruising.

Cruise stocks are soaring. Royal Caribbean Cruises Ltd. (RCL) is up nearly 30% year-to-date, while Viking Cruises, which went public on May 3, 2024, boasts a 20.5% return. Viking’s CEO, Tor Hagen, reports strong bookings for 2024 and 2025, reflecting high demand. Viking’s CFO, Leah Talactac, highlights their robust financials, stating, “Our first-quarter results show great demand for our brand. We’re strengthening our balance sheet and pleased with the S&P credit rating upgrade.”

The industry is on a roll, with early bookings for 2025 hitting record levels. This is more than a rebound; it’s a return to normalcy fueled by a virtuous cycle of satisfied cruisers sharing their positive experiences, enticing new travelers. Cruise lines are responding to this demand with new ships. Norwegian Cruise Line Holdings has announced eight new ships for delivery between 2026-2036, and Royal Caribbean and Carnival are also expanding their fleets. Additionally, adventure cruising is gaining momentum as travelers increasingly seek unique and immersive experiences in some of the world’s most remote destinations. AdventureSmith Explorations, a leader in small-ship adventure cruises, is set to capitalize on this trend with the launch of a brand-new expedition ship in 2025, offering itineraries to rarely visited areas of Antarctica. Todd Smith, founder and president of AdventureSmith Explorations, highlights the uniqueness of these voyages, calling them “bucket-list trips.”

Despite economic headwinds, the cruise industry is charting a course for strong growth. The flexible pricing and diverse experiences offered by cruises make them attractive to both luxury and budget travelers. With strategic investments in new ships and sustainable technologies, the industry is set to thrive in 2025 and 2026. The lesson for everyone in travel? Stay adaptable, invest in quality experiences, and keep an eye on sustainability. The secret to success lies in understanding consumer desires and continuously enhancing the travel experience.

AIRLINE NEWS

Airlines Make ‘Green’ Impact, New Flight Deals

Turkish Airlines has launched its new sustainability initiative, "Tomorrow On-Board," on World Environment Day at Istanbul Airport. This brand aims to integrate sustainability into the airline's corporate culture and communicate its environmental commitments to passengers and investors. The launch event featured sustainable in-flight products and an exhibition of art made from repurposed aircraft parts. Chief Investment & Strategy Officer, Levent Konukcu, emphasized the initiative's role in reducing environmental impact and enhancing transparent sustainability practices across all operations. The event also introduced an art exhibition titled "41.2607° North and 28.7424° East," displaying works created from upcycled airline materials, available for viewing at the airport for two weeks.

Air Canada is enhancing its in-flight service just in time for summer travel by offering an expanded range of complimentary premium snacks and beverages on all flights. Passengers flying within Canada and the U.S. can now enjoy free beer and wine, along with $5 cocktails in Economy Class. The airline's summer menu features a selection of treats from Canadian brands, including TWIGZ's buttery herb and garlic pretzels and Leclerc’s Célébration Cookie, a Quebec delight made with real milk chocolate and butter. Drink options have also been broadened to include popular choices like Creemore Springs Premium Lager and Molson Canadian. This update is part of Air Canada's significant industry-leading menu overhaul, which recently introduced 100 new seasonal recipes showcasing vibrant flavors and local Canadian ingredients.

The upcoming Olympics in Paris might seem like an expensive travel opportunity, but there are still affordable options for those looking to experience the games. Airlines may be raising prices, but French bee offers the most economical choice with roundtrip flights from Newark to Paris for just $406 in Basic Economy. Unique to French bee is their nonstop service to Orly Airport, situated closest to central Paris, which will soon benefit from a new metro line launching on June 23, providing quick and cost-effective access to the city. Additionally, French bee’s partnership with SNCF allows travelers to easily reach other French cities hosting Olympic events. Prices for other routes include $606 from Los Angeles, $726 to Tahiti for surfing events, and $570 from Miami.

Ramp has launched "Ramp Travel," a new travel booking solution aimed at revolutionizing corporate travel by integrating Priceline's extensive global travel resources with Ramp's advanced expense management systems. This innovative platform, designed to reduce costs and streamline processes from booking to expense reporting, supports growing demands for corporate travel efficiency. Eric Glyman, CEO of Ramp, highlights the initiative's core advantages, stating, "Ramp already makes companies' finances more efficient by streamlining expenses and automating busywork. By integrating travel booking, which has traditionally been a pain point, organizations have more time and resources to focus on what really matters: their business." This approach builds on Ramp's commitment to simplifying financial operations and enhancing user experience, a continuation of Glyman's customer-first philosophy evident since his days founding Paribus. (Editor's Note: Eric has been a phenomenal founder since he started Paribus and has always put the customer first to help them save, this is the latest example of this tremendous work.) The service is now available to Ramp's existing customers, offering a smarter, more integrated way to manage travel and entertainment expenses.

STAYING IN STYLE

New Hotel Trends and Promotions

Equinox Hotel New York is rolling out a special Fourth of July Package to celebrate the holiday in style. With Macy’s Fourth of July Fireworks returning to the Hudson River, guests can enjoy a prime viewing spot from River View Rooms or Suites at the hotel. The package includes a complimentary bottle of champagne on arrival and a $150 credit for food and beverages, perfect for enjoying the seasonal offerings at Electric Lemon, where DJ Darling Chuck will set the mood from 6 pm. The fireworks spectacle will light up the sky and the hotel’s stunning riverside views from 9:30 pm, offering an exclusive and luxurious Independence Day experience.

Kona Big Wave is launching a summer sweepstakes with a chance to win a stay at The Aloha House, set in both the Florida Keys and Park City, Utah. Each location offers a unique blend of island ease and outdoor adventures—from snorkeling and paddleboarding in the Keys to skiing in Utah. The promotion includes a three-night stay, travel accommodations, and an array of activities and amenities, promising a slice of paradise no matter the season.

The Venetian Resort Las Vegas is set to enhance its culinary landscape with the addition of Gjelina, the acclaimed Venice Beach eatery, in late 2024. This move is part of the resort's ambitious $1.5 billion reinvestment project, aimed at cementing The Venetian as a top dining destination on the Strip. Gjelina is renowned for its commitment to farm-to-table dining, emphasizing locally sourced ingredients, which aligns with The Venetian's sustainability goals. This new location will join a notable lineup of restaurants at the resort, offering a unique Californian dining experience amidst the vibrant Las Vegas atmosphere.

June marks World Ocean Month, and Atlantis Paradise Island, in partnership with its nonprofit organization Atlantis Blue Project Foundation (ABPF), is stepping up its efforts to conserve marine life and ecosystems in the Bahamas and the Caribbean Sea. This year, Atlantis has appointed Kristen Johnson, a veteran at the resort, as the Chief Education Officer to spearhead educational initiatives that enhance conservation awareness among guests and locals. Furthermore, the resort is launching the Bahamas Coral Gene Bank in collaboration with local and academic institutions to preserve at-risk coral species from threats like bleaching and disease. ABPF, established in 2005, has been instrumental in funding over $5 million in coral research, establishing numerous coral nurseries, and enhancing marine protection throughout the Bahamas, reflecting a deep commitment to marine conservation and sustainable tourism practices.

The Westin Jekyll Island is undergoing an extensive transformation to redefine its presence as a premier beachfront resort on the Georgia coast. With new ownership at the helm, the hotel is embracing its scenic coastal environment, local history, and the tranquil essence of Jekyll Island to enhance its appeal as a leisure destination. This comprehensive reinvention, set to unfold over the next year, includes a new food & beverage program debuting next month under the direction of three-time James Beard nominee Chef Lindsay Autry. The revamped culinary offerings will feature three distinct restaurant concepts: Willet's Lowcountry, serving coastal Southern cuisine; Pour Tabby, a bar and lounge; and Salty's, a poolside grill with beach service. Each venue aims to become a community staple, capitalizing on local seafood and Chef Autry’s Southern-meets-Mediterranean cooking style. Alongside massive renovations across rooms and public spaces, the Westin is introducing enhanced guest experiences such as historical tours and marine biology walks, ensuring that both travelers and locals can fully enjoy the island’s upgraded amenities and natural beauty.

One&Only has unveiled its latest luxurious resort, One&Only Kéa Island, set on the idyllic west coast of Kéa in the Cyclades, just a 45-minute speedboat ride from Athens. This all-villa resort offers an immersive experience into authentic Mediterranean life, enhanced by its dramatic 160-acre beachfront location. Philippe Zuber, CEO of Kerzner International, emphasized the resort's deep connection to its locale: "Every One&Only resort celebrates its exceptional location, honoring the natural landscape and local community. One&Only Kéa Island is no exception, designed to reflect and protect the unique spirit of Kéa, providing a grounding experience that revitalizes our guests." The resort features 63 cliffside villas, each with a private infinity pool, and a range of dining venues and wellness facilities, promising an unrivaled Greek island experience.

SUMMER EVENTS & TRENDS

Stay Entertained All Summer With These Great Events

New York City's Hall des Lumières is set to transform Pride Month with its first annual Immersive Pride Celebration on June 27th. This inaugural event promises to merge art and technology, featuring over 130 projectors that cast vibrant, Pride-themed visuals across three stories, creating a backdrop for a night of dynamic performances and community connection. Highlights include a drag show by NYC's Jamie CD, a live set by singer VINCINT, and a DJ performance by BMAJR, all accompanied by specialty cocktails from 1800 Tequila. Set in Manhattan’s largest center for immersive experiences, this event is a vivid celebration of diversity and inclusion.