Navigating the industry, sector, and stocks
It's about time we all treated ourselves to a little getaway, but how do things look in this new world we live in? We'll take a look at different aspects of the travel industry, exam some changes, and explore areas of the market we may see an impact on revenue and perhaps share price over time.
There are a few different elements to pick apart in this sector so I'll divide these into a multi-blog where we cover each segment with detail. When it comes to the backend bookings of hotels, air, bus, car rentals, and vacation rentals, there are several stocks and ETFs that can be used to place wagers on how they'll fare. There's too much to cover on the stock market front in the travel section to be covered in this blog, but it'll be covered in more detail in our podcast and Roch Bottom technical analysis blog.
I think it's important to consider how you book and why you choose one way versus another. What I mean here is, some use an Expedia or TripAdvisor to book, others put together a Frankenstein itinerary and then there are the trusty Travel Agencies. These days it's all about convenience and instant gratification so most people want to be able to book their trip in minutes from their mobile phones. Because last year's pandemic put immense stress on airlines, cruise ships, and just about anything related to travel and tourism, it makes even more sense to use a travel agent to book all your travel. There's nothing wrong with booking things on your own until there is.
Here are a few reasons why I think it's crucial to your vacation and your wallet to book your trips with a partner you can trust:
Knowledge - Travel agents do this for a living, book multiple trips a day, and know things about the area you're visiting. Chances are they've been there or had a colleague or client go there in the past so they get it. They're going to give you the details you want to know and be able to answers questions about specifics.
Pricing - In most cases a travel agent can get the same or better pricing for your trip. A misconception is they charge hourly fees or planning fees on top of your travel costs - not true. It has never cost me a penny more (although I would gladly pay more) to book any travel. Their compensation is driven by the travel partners like hotels etc. who pay them directly.
Bonus Miles - You might even have a booking promo or bonus miles codes that could be applied by your agent. You'll never miss out on those precious airline miles or hotel points!
Ease - Call your agent, provide them the details of what you're trying to book, and voila, the research begins. They'll populate y, our frequent flyer numbers, hotel rewards, or any other program you're affiliated with. Any o,f your concerns for price, travel dates or layovers is handled.
Hiccups - If you travel a lot you know great things don't always go according to plan. Weather, transportation, and other factors play a role in how your vacation, starts or ends. It's great to have boots on the ground fighting your fight to get the things you paid for. I can tell you from experience, it could cost hours or even days of your vacation, trying to argue and fix problems with tour operators, airline rescheduling, or hotel blunders. Not fun! A travel agent will do, all of this for you so you enjoy your vacation.
Our trusted travel guru has been and continues to be Natalie Fichera from NJF Travel. If you have your travel agent, fantastic, but if not, give Natalie a look and let her know I sent you.Travel Planning at its Finest
And that's only the beginning...Reach out and schedule a consultation to discuss your situation. We'll walk you through your options and help you make the right choice for your goals.
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