Home » Lifestyle » Despite inflation, prepare for ‘strong’ holiday travel season ‘no matter what it costs’: Omni’s Peter Strebel
Despite inflation, prepare for ‘strong’ holiday travel season ‘no matter what it costs’: Omni’s Peter Strebel
Omni Hotels’ Peter Strebel on holiday travel outlook: High demand ‘no matter what it costs’
Omni Hotels & Resorts Chairman Peter Strebel says there’s a ‘thirst’ for getting people back together during the holidays.
After experiencing a "very, very busy" summer travel season that hoisted the company to "almost-recovered" status in the post-COVID era, Omni Hotels & Resorts’ chairman is predicting the steady travel pace to continue into this year’s holiday season.
"People have spent the last two Christmases away from their family, away from their friends. I believe no matter what it costs, people are going to have the need to get together," Omni’s Peter Strebel told FOX Business’ Maria Bartiromo Tuesday on "Mornings with Maria."
With the cost of airline tickets up more than 33% year-over-year, per the U.S. Labor Department, and more Americans starting to plan ahead for holiday travel plans, Strebel argued decades-high inflation won’t impact the number of bookings Omni’s expecting.
"I think the cost is definitely going to be a lot more than it has been," Strebel noted. "Our customer base is a little more on the luxury side of the coin. So we're not as affected as much by the inflation."
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Since May of this year, Omni has reportedly been beating its peak 2019 earnings numbers each month, its chairman touted, noting leisure travel has returned to a "stable" pace following COVID-19 pandemic closures.