At the Glass House in New York, leaders from across travel and hospitality came together—Booking, Expedia, Airbnb, RCG, Frontier, Kayak, Air Asia, Oyo, IHG, Marriott, and many others. The discussions were focused, and the themes consistent.
1. Economic Headwinds
The North American market appears to be softening. Search volumes are down 15%. OTA and TMC bookings are flat. Margins are under pressure.
Niche segments such as Luxury travel and vacation rentals seem to be holding up, while there are headwinds for the low-cost carriers like Spirit, Southwest, and Frontier. Pricing has become critical and is forcing providers to rethink how they design products and grow share.
All of this plays out against broader challenges—new regulations, shifting visa and border policies, emerging agentic AI and data privacy rules. Inflation and high interest rates are slowing investment. Global uncertainty continues to weigh on the industry. The takeaway was clear: agility is no longer a differentiator; it’s a necessity.
2. Platforms and Technology
Technology drew much of the attention. AI being at the heart of everything we do—it’s increasingly used for transactions, personalizing offers, increasing efficiency, and forecasting demand more accurately.
The industry is moving past web forms and static booking paths. Agentic and Conversational AI will likely affect how and where people book travel. The balance between direct, third party, and emerging platforms is set to shift.
3. Human-Centered
While technology was at the center of many sessions, the industry also emphasized people. Every company is competing for the same AI and data talent. The ability to recruit and keep these people will be important. Those who can build strong AI teams will be able to move faster.
The conversation also turned inward. Companies were reminded that a focus on people is not only about guests. It’s also about employees. Culture, well-being, and empowerment are essential to performance. Human-centered travel applies to both sides of the value chain.
Closing Reflection
The forum left us with a realistic, forward-looking view. While the business environment is challenging at the same time, technology is providing new ways to serve the increasing expectations of travelers.
About the Author
Toby March
Executive Vice President, Revenue (Americas)
RateGain
