After a year of being cooped up at home during the Covid-19 pandemic, many Americans are taking a cue from 2021 Rock and Roll Hall of Fame induction nominee The Go-Go’s.
“Vacation, all I ever wanted. Vacation, had to get away.”
People are hitting the roads and airports for Spring Break trips this coming week and are already starting to make plans for the summer. And that’s good news for companies like Airbnb and its home sharing rival Vrbo, which is owned by online travel giant Expedia.
Shares of Airbnb are up more than 20% this year following 2020’s successful initial public offering, while Expedia has soared more than 30%.
Airlines and hotel stocks have surged as well. United and Southwest are each up more than 30% in 2021. Hilton and Marriott have both gained about 10%.
Consumers clearly want to start taking trips again, especially as more adults are vaccinated.
“We’ve had a phenomenal recovery,” said Vrbo president Jeff Hurst in an interview with CNN Business. “We could be looking at a real boom period for leisure travel.”
A resurgence in vacations could lift all boats in the sector. Hurst, who also serves as Expedia’s co-lead of marketing, said the company’s numerous other brands, which include Hotels.com, Travelocity, Orbitz and Hotwire, are starting to bounce back too.
“More people are searching for core urban destinations that had a falling out during the pandemic. People are interested in going to Las Vegas…