Travel Industry Earnings Coverage

The first half of July saw little improvement in travel agency bookings compared with the first half of June, according to the world's largest processor of airline tickets. Sigh.

Vrbo is benefiting from a ton of direct traffic because vacation rentals are having a moment, and competitors' paid marketing through Google fell off a cliff. The brand will likely get some sustainable benefit from the lift, but the dynamic can change in a heartbeat.

One wonders whether some travel companies like MakeMyTrip Group must rethink parts of their business during the pandemic. They may continue to struggle to pay out millions in refunds to customers due to a staccato pace of travel restrictions.

Can Expedia Group wean itself away from Google, and avoid performance marketing spending when it doesn't hit return on investment targets? New CEO Peter Kern said the coronavirus crisis presents an opportunity to chase these goals. Kern will be judged on what progress he can make toward achieving such previously elusive ambitions.

Cruise lines have changed the date of their return to service multiple times now, and Royal Caribbean is no different. Despite selling cruises for the summer period, executives don't seem particularly bullish on the prospect of a full return to service in the near term.

There was no chance any cruise line's first quarter was going to be palatable. Norwegian Cruise Line's position gives an idea of how long the industry might take to recover.

Sabre is a bellwether for the global travel industry as a major processor of transactions for airlines and hotels. The picture isn't pretty. But the company looks capable of weathering a delayed resumption in travel.

Will it be hotels or alternative accommodations that bounce back first? Booking Holdings officials said they see a shift toward alternative accommodations when travelers are booking stays at least two months in advance. But this trend won't necessarily stick over the long term.

We wouldn't be surprised if Extended Stay America's first quarter and upcoming second quarter operating results together were among the very best of the battered public U.S. hotel companies. Going long on long-stay has never been such a safe business model as it is now during the coronavirus pandemic.

If the impact of coronavirus gets worse, and if the company doesn't tap any additional borrowings, Booking Holdings probably has enough money to pays its obligations until the second half of 2021 — but it can't guarantee that will be the case. This has potential chilling implications for weaker competitors, let alone tens of thousands of smaller businesses that will likely be long gone by then.