Skift Daily Travel Briefing Skift Travel News

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

Episode Notes
Officials in California recently launched a new tourism marketing campaign. Visit California CEO Caroline Beteta discussed it and more in an interview with Global Tourism Reporter Dawit Habtemariam.
Beteta said California’s current marketing campaign — titled “Ultimate Playground — aims to showcase a sense of play often associated with the Golden State. She described the campaign as a pivot from Visit California’s long-running campaign “Dream Big,” which she added will still be a part of the organization’s messaging.
Beteta also touched on Visit California’s work with celebrities, who frequently appear on the cover of its visitor guides. She cited Jennifer Hudson as one celebrity the organization has partnered with. 
Next, travel and tourism investment firm Certares was behind a consortium that acquired FTI Group, Europe’s third-largest tour operator, writes Travel Experiences Reporter Jesse Chase-Lubitz. 
The consortium will own all of the share capital while FTI will receive about $130 million to use for its digital transformation and growth. Certartes holds stakes in G Adventures, Tripadvisor and AmaWaterways, among other travel brands. Meanwhile, Munich-based FTI has 120 subsidiaries throughout Europe. 
Finally, Iceland is still a popular destination for Chinese travelers while Kazakhstan has become a new favorite, reports Asia Editor Peden Doma Bhutia.
Iceland remains one of the top 10 most coveted outbound destinations among travelers surveyed by China-based marketing company Dragon Trail International. An executive at Dragon Trail credited reality TV and social media for familiarizing Chinese travelers with Iceland. As for Kazakhstan, the easing of visa restrictions — as well as its winter resorts — have made the country more appealing for many Chinese. 
However, Thailand has suffered in the eyes of many Chinese travelers due to concerns about safety. Roughly 38% of those surveyed by Dragon Trail considered Thailand “unsafe” to visit.

Episode Notes
Marriott and IHG have each announced plans to add 100 hotels to their portfolio in Europe, reports Senior Hospitality Editor Sean O’Neill.
Marriott said it would add those roughly 100 properties by the end of 2026 through hotel conversions — deals where the owner of an existing hotel assumes a new brand affiliation — or converting existing buildings into hotels. Marriott already has more than 800 properties in Europe. 
As for IHG, the company is planning to team up with Novum Hospitality, one of Germany’s largest family-run hotel groups, to add a little more than 100 hotels to its footprint in Germany.   
Next, several major airlines are still taking a cautious approach to operating flights in the Middle East following Iran’s attack against Israel this weekend, writes Airlines Editor Gordon Smith. 
While the European Union Aviation Safety Agency said there’s currently no overflight risk for civil aviation, some airlines are extending route cancellations and diversions. Virgin Atlantic said on Monday it’s temporarily avoiding the airspace of Iraq, Iran and Israel, resulting in some flights from the UK to India being adjusted. 
Meanwhile, the Lufthansa Group said its flights to Lebanon and Iran will remain suspended until at least Thursday. 
Finally, Accor CEO Sébastien Bazin sees enormous room for growth in India. India Reporter Bulbul Dhawan delves into the reasons for Bazin’s optimism.
Bazin described India, where the company operates 62 hotels, as an untapped market. He noted that the top five hotel operators in India collectively have less than 1,000 hotels compared to 25,000 in China. In addition, Dhawan cited India’s rapidly growing middle class — a 2024 Skift Megatrend — as another reason for Bazin’s belief that business in India will boom. 
Bazin also said he saw a lot of potential in India’s secondary and tertiary cities, which are home to roughly 1 billion people. 
Presenter/Producer: Jose Marmolejos

Ben Drew recently announced he’s stepping down as Viator president. Executive Editor Dennis Schaal explores what that means for Viator’s parent company Tripadvisor, which is considering a potential sale.  
While Schaal writes the impact of Drew’s departure is unclear, one travel industry executive said it would make a potential buyer of Tripadvisor take a deeper look at Viator’s prospects as well as its leadership structure. Tripadvisor has yet to comment about who might succeed Drew.  
Tripadvisor has also floated the idea of spinning off Viator in recent years. 
Next, the U.S. airline industry is asking the federal government to halt additional flights to China, citing what it believes are Beijing’s “anti-competitive policies,” writes Airlines Reporter Meghna Mahirisi. 
Four aviation industry groups signed a letter urging Washington to pause an increase in flights between the U.S. and China. U.S. airlines have argued they’re at a disadvantage because they can’t fly over Russian airspace while other Chinese competitors can. U.S. and Chinese carriers have been able to operate up to 50 weekly flights between the two countries since March 31, roughly 100 fewer than prior to the pandemic.   
Finally, as several Western destinations are still waiting for Chinese group tours to return to pre-Covid levels, Canada has found ways to deal with the ongoing absence of Chinese groups. Destination Canada CEO Marsha Walden addressed that topic and more in an interview with Global Tourism Reporter Dawit Habtemariam. 
Walden said China’s ban on group tours has enabled Destination Canada to focus more on attracting fully independent travelers, who she said are likely to spend more. Walden added that Canada has had success coming out of the pandemic attracting visitors from the U.S., Mexico and Europe. 
Walden also discussed soccer’s 2026 World Cup, an event Canada will co-host with the U.S. and Mexico. She said she had confidence that the Canadian government could reduce visa wait times before the tournament.  

Episode Notes
Delta Air Lines posted a first-quarter profit in what’s normally a sluggish period for airlines — in part due to a rebound in business travel, writes Airlines Reporter Meghna Maharishi. 
Delta President Glen Hauenstein said during the company’s earnings call that corporate travel sales were up 14% from last year. He added the technology, customer services and financial services industries led the increase. In addition, Delta saw record revenues for domestic travel during the first quarter. 
The company recorded a $37 million first-quarter profit — in contrast to a $363 million loss during the same period last year. 
Next, Brazil has postponed reinstating its visa requirement for visitors from Australia, Canada and the U.S. until 2025, writes Global Tourism Reporter Dawit Habtemariam. 
President Luiz Inácio Lula da Silva signed a decree this week that included the postponement. This is the second time Brazilian authorities have postponed the visa requirement, which was originally set to be implemented in January. Citizens of the three countries have been allowed to visit Brazil without a visa since 2019. 
Finally, the travel industry has seen a wave of corporate travel agency mergers and acquisitions recently. Contributor Justin Bachman notes two key factors contributing to the trend. 
Bachman reports that travel suppliers — especially airlines — are looking to improve their distribution channels and obtain more capital for investments in tech. Amex GBT CEO Paul Abbott said suppliers want their distribution channels to deliver a modern retailing experience. 
Meanwhile, Mike McCormick, former head of the Global Business Travel Association, said the largest corporate travel agencies firms have been forced to invest heavily in technology due to pressure from airlines. Airlines are moving more of their fares from the traditional global distribution system model to a direct New Distribution Capability platform. 

Episode Notes
Several major hotel CEOs took home more money in 2023 than they did the previous year. Senior Hospitality Editor Sean O’Neill provides information about their pay packages. 
Hilton CEO Christopher Nassetta was the highest paid hotel executive in 2023, making $56.8 million. He was awarded about $8.3 million in total compensation the previous year. O’Neill cites stock-market gains as a reason why Nassetta’s pay package was substantially higher. Hilton’s stock price jumped 42% last year, and Nassetta received $16.3 million in stock awards. 
Hyatt CEO Mark Hoplamazian was the second-highest paid hotel CEO in 2023, making close to $56.4 million.
Next, Viator President Ben Drew has announced he’s leaving the company, reports Senior Hospitality Editor O’Neill.  
Drew said he would leave Viator — Tripadvisor’s travel experiences brand — on April 12 for “a new opportunity in a new industry.” Drew, who had previously worked at Expedia and Deloitte, has served as Viator president since 2020. Viator generated about $4 billion in gross bookings last year, a figure Drew said was only about 1% of the experiences sold online and off. 
Finally, a whistleblower at Boeing claims the planemaker took shortcuts to make both the 787 and 777, writes Airlines Reporter Meghna Maharishi. 
Boeing engineer Sam Salehpour said the company has dismissed repeated concerns about the quality control of the 787 Dreamliner and 777. Those models are among the most used widebodies in the aviation industry. Federal authorities are currently investigating Salehpour’s claims, which were made public on Tuesday. He had filed a complaint with the Federal Aviation Administration in late January. 
Boeing has disputed some of the claims and said it has worked to improve the production and quality control processes of the 787.