Skift Take
Today’s podcast looks at Disney’s big park and cruise plans, India’s booming outbound market, and timeshares’ global challenges.
Good morning from Skift. Itâs Tuesday, August 13, and now hereâs what you need to know about the business of travel today.
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Episode Notes
Disney has unveiled expansion plans for its parks, cruise line and digital platforms, writes Travel Experiences Reporter Jesse Chase-Lubitz.
Disney announced it will debut four new cruise ships between 2027 and 2031, an expansion that will increase its cruise line fleet to 13 ships. Meanwhile, the Disneyland Resort in California will feature a water-based Avatar attraction and Disneyâs Animal Kingdom in Florida will be home to Indiana Jones and Encanto-themed attractions.
In addition, Disney is working with Epic Games to incorporate its characters into digital environments linked to the popular online game Fortnite.
Next, Indiaâs outbound travel market is projected to reach $55.4 billion by 2034. And the countryâs clout in the global travel industry is expected to continue growing, writes Asia Editor Peden Doma Bhutia.
Several travel executives addressed Indiaâs role in global tourism during recent earnings calls. Accor CEO Sebastien Bazin said the number of Indian outbound travelers could double in the near future, which would have a big impact on Southeast Asia and Middle East hotel markets. And Airbnb CEO Brian Chesky said Airbnb is a crucial market, with the company seeing a 30% increase in nights booked in 2023 from the previous year.
Finally, the three largest U.S.-based sellers of vacation ownership, or timeshares, have reported a pullback in consumer spending behavior, writes Senior Hospitality Editor Sean OâNeill.
Executives at Hilton Grand Vacations, Marriott Vacations Worldwide and Wyndham Destinations said they noticed an increased consumer hesitancy to buy timeshares, particularly for new buyers in the bottom-third of income. OâNeill notes the pullback follows a high level of demand. The sector saw sales volume hit $11 billion last year, marking a full recovery from pre-Covid levels.
Where will growth come from? âGlobalâ was the most-used word by timeshare executives in recent earnings calls. Marriott Vacations Worldwide is planning a new resort in Thailand. Hilton Grand Vacations sees opportunities in boosting its sales of units to Japanese buyers. And Travel and Leisure Co. saw its international tour flow jump over 50% in the second quarter.
