Skift Take
Today’s podcast looks at Airbnb CEO’s compensation package, TUI’s sustainability bonds, and Google’s greener travel.
Good morning from Skift. It’s Thursday, April 18. Here’s what you need to know about the business of travel today.
Listen Now
🎧 Subscribe
Apple Podcasts | Spotify | Overcast | Google Podcasts | Amazon Podcasts
Episode Notes
Airbnb CEO Brian Chesky’s 10-year pay package, announced in 2021, could hit $1 billion or more if the company’s share price hits certain price targets, reports Executive Editor Dennis Schaal.
Airbnb said recently the potential value of Cheksy’s eight remaining tranches of unearned shares at the end of 2023 was $1.3 billion. However, Schaal notes it’s far from certain that Chesky will receive the shares. Airbnb awarded Chesky a pay package with 12 million restricted stock units that the company valued at $430 million in November 2020 before Airbnb’s IPO.
The potential payout would be based on whether Airbnb’s share price hits the designated thresholds as well as the actual share price on the date an earned award settles.
Next, Europe’s largest tour operator TUI announced in February it would be offering sustainability-linked bonds. Travel Experiences Reporter Jesse Chase-Lubitz delves into whether those bonds are a step toward more sustainable tourism or a form of greenwashing.
TUI’s sustainability-linked bonds are tied to an overall environmental target – if it misses the target, it pays a higher interest rate. The Germany-based tour operator has linked its bonds to its airline division, which is responsible for 70% of the company’s total greenhouse gas emissions.
However, Chase-Lubitz notes some climate finance experts aren’t sold on the new instruments: They don’t have a long track record and there’s no standard for measuring progress. An executive at a global investment bank described sustainability-linked bonds as the Wild West.
Finally, Google is releasing new features that aim to promote greener ways of travel, writes Travel Technology Reporter Justin Dawes.
Dawes reports the new features will appear in its Maps, Search, Flights and Hotels products, adding some of those features are powered by generative artificial intelligence. Google Maps will also include features to help electric vehicle drivers locate charging stations. Dawes also notes Google’s Travel Impact Model is free to other tech companies that want to embed carbon emissions info into their websites or apps.
Presenter/Producer: Jose Marmolejos
