Airbnb's gloomy forecast weighs on hotel, airline stocks

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 66%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

NEW YORK: A gloomy forecast from vacation rental firm Airbnb weighed on travel-related stocks on Wednesday (May 10) as an expected slowdown in bookings signalled an impending slump in travel demand with consumers seeking cheaper accommodation amid inflation and recession fears. Airbnb, which reported a 20

NEW YORK: A gloomy forecast from vacation rental firm Airbnb weighed on travel-related stocks on Wednesday as an expected slowdown in bookings signalled an impending slump in travel demand with consumers seeking cheaper accommodation amid inflation and recession fears.

Airbnb's forecast will heighten caution in the travel sector, which encompasses hotels, airlines, and vacation rental firms, according to an investor note by JPMorgan analysts, led by Doug Anmuth. The S&P 1500 Airlines index was down about 3 per cent on Wednesday, with Delta Air Lines Inc, American Airlines Group Inc, and Southwest Airlines Co among the biggest losers.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in CA

Canada Canada Latest News, Canada Canada Headlines