Today’s podcast discusses Airbnb’s hotel idea, Hilton’s timeshare deal, and Egypt’s tourism drop.
Good morning from Skift. It’s Tuesday, November 7. Here’s what you need to know about the business of travel today.
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Airbnb has seen its listing numbers tumble in New York City due to a regulatory crackdown. But the short-term rental giant believes boutique hotels can help fill the gap, reports Executive Editor Dennis Schaal.
Airbnb CEO Brian Chesky said during the company’s recent earnings call that adding boutique hotels to its New York City inventory was an opportunity given the decline in short-term rental listings for homes. He noted that boutique hotels are already listed on HotelTonight, the app Airbnb acquired in 2019. However, despite the possible boutique hotel push, Chesky said Airbnb’s core business will always be houses.
Next, timeshare company Hilton Grand Vacations has offered to buy Bluegreen Vacations in a deal that could be worth $1.5 billion, reports Senior Hospitality Editor Sean O’Neill.
Hilton Grand Vacations will offer $75 a share in an all-cash transaction. O’Neill reports Hilton Grand Vacations, which was spun off from Hilton in 2017, is looking to strengthen its position in the vacation ownership and experiences sector. Hilton Grand Vacations runs resorts primarily in the U.S., Europe and the Asia-Pacific region.
Finally, Egypt was on track for a record tourism year in 2023. But it’s seen rising cancellations recently from American tourists due to the Israel-Hamas war, writes Global Tourism Reporter Dawit Habtemariam.
Habtemarian reports that Egypt had welcomed roughly 10 million tourists in the first eight months of this year. However, travel companies that take American travelers to Egypt have reported a surge of recent cancellations. Kelly Torrens, an executive at Kensington Tours, said the current season will be lost for most tour operators working with the U.S. market.
Although some tour operators are optimistic travel to Egypt will increase in 2024, Torrens acknowledged that bookings for Egypt trips next year are low compared to previous years.