NEW YORK - Travel companies including Airbnb and Marriott International are forecasting a slowdown in leisure travel as U.S. consumers wait longer to book vacations in a time when the economic outlook remains uncertain.
Hilton Worldwide raised its profit forecast for 2024 as international revenue offset losses from slowing U.S. demand. Vacation rental company Airbnb and online travel agency Booking Holdings both said they are seeing slowing growth in the United States. Some consumers are trading down for lower-priced options while others are booking trips at the last minute, which is another signal of weakening demand.
Investors will get another look at trends in leisure travel on Thursday when online travel agency Expedia Group reports second-quarter earnings after the bell.Travel companies including Airbnb and Marriott International are forecasting a slowdown in leisure travel as U.S. consumers wait longer to book vacations in a time when the economic outlook remains uncertain.