Is the travel boom really over?
Hello MM team, With all the commentary about consumers and businesses being pressed to reduce discretionary expenses, travel included, I thought this was a good time to start searching for a holiday bargain. Well, I am finding the opposite: flights fully booked, or very expensive airfares, accommodation in short supply, attractions fully booked, etc. I also spoke to a friend who works in the hotel industry, and she explained they are not at capacity as they were six months ago, but bookings are continuing to flow through at a more typical pace. Talking to other people, it seems many of us were thinking the same: waiting for the travel boom to subside to enjoy a 2024 holiday at a more reasonable price. It seems we are chasing a mirage! All of the above is anecdotal, but made me wonder if there is a bit of a contrarian opportunity in stocks like Corporate Travel or Webjet given the significant price correction over the last couple of months, and the seemingly resilient travel market. Corporate Travel, in particular, reported quite well in August, and their AGM is in a couple of weeks. Thoughts? Thanks, Angela
