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Travel Agents

When it comes to planning a vacation, there are countless resources at your fingertips, but nothing comes close to the expertise and personalization offered by the industry's top travel agents. Drawing on firsthand experience, these experts can help you sift through the endless choices to tailor an itinerary to your tastes, interests, and budget. And thanks to connections built over years of networking, the best agents can grant unprecedented access to unique and unforgettable experiences you won't find online.

How Covid Changed The Travel Agent, Again

Today's edition of Skift's daily podcast looks at the reinvention of travel agents, how in-person meetings are hurting virtual meetings, and why tour operators are leading on sustainability.

Rashaad Jorden

Good morning from Skift. It's Wednesday, July 20 in New York City. Here's what you need to know about the business of travel today.

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Episode Notes

Travel agents have seen significant changes in their profession since the start of the pandemic, including having to accommodate a surge in travelers seeking guidance before booking trips. But serving more consumers is far from the only major change agents have seen. Editorial Assistant Rashaad Jorden explains, as travel agents are assuming new duties, how the position is being reinvented once again.

As trip planning has become more complicated and time-consuming in recent years, agents, such as Minnesota-based Erin Green, have said they're increasingly playing the role of counselor. While counseling is not a new duty for agents, Green acknowledges the sort she's doing now is tricky. She admitted there's no guarantee she can give clients an answer about what might happen in a hypothetical situation. But Green said her agency has extensively prepared agents on how to address topics pertaining to global issues.

Meanwhile, travel agents are having to devote more time to marketing themselves as experts to prospective clients, in large part due to consumers' increased expectations of such professionals. Otto de Vries, the CEO of the Association of Southern African Travel Agents, said establishing personal brands through marketing has emerged as a greater requirement for agents.

Next, the growing demand for in-person meetings has hit event technology platforms hard, contributing to companies like Hopin and Bizzabo laying off hundreds of workers in recent weeks. But Corporate Travel Editor Matthew Parsons writes that business travelers should refrain from permanently kicking virtual events to the curb.

One factor in virtual events' struggles, Parsons notes, is the rebound in corporate travel. Spending on conferences is expected to increase 4 percentage points this year compared to 2019, according to the Global Business Travel Association. The group's CEO, Suzanne Neufang, said it's seeing more companies reintroduce in-person events as part of their event mix. That rise has contributed to corporate travel agency giant CWT's 65 percent drop in the number of virtual events it's hosted so far in 2022 compared to last year.

However, Parsons writes that businesses may find the need to stay plugged into virtual event platforms. Ian Cummings, the vice president of CWT Meetings & Events, said they'll continue to be considered for meetings. In addition, Neufang maintains that virtual meetings will continue to be relevant due to ongoing pressure companies face to reduce carbon emissions.

Finally, dozens of airlines, hotels, and online travel agencies have loudly committed in recent years to conducting greener business practices. But Contributor Tony Carne explains in a guest column why it's tour operators that have instead been travel's most vocal leaders for sustainability.

Although tour operator executives maintain they've long been committed to sustainability, Carne writes one reason tour operators are playing a leading role is because they've been pushed by travelers to do so. Fiona Ngesa, the director of market development for the Kenya Tourism Board, said visitors to Kenya are increasingly interested in sustainable travel and not just partaking in safari tourism.

However, Darrell Wade, the founder of Intrepid Travel, argues that companies in other sectors of travel aren't following tour operators' commitment to sustainability. Wade said that a third of the travel industry wants the issue to disappear.

Buy Rating Affirmed For American Airlines Amid Strategic Adjustments And Market Positioning

Deutsche Bank analyst Michael Linenberg has maintained their bullish stance on AAL stock, giving a Buy rating on July 9.

Michael Linenberg has given his Buy rating due to a combination of factors surrounding American Airlines' strategic moves and market positioning. Despite the airline's recent earnings per share (EPS) being slightly higher than anticipated, their future outlook indicated some challenges due to an oversupplied domestic market and the unwinding of a prior distribution strategy. American Airlines is actively addressing these issues by reinstating traditional corporate sales channels and rebuilding relationships with corporate clients and travel agencies. The effort to restore its previous market share through these channels is seen as a positive step, as the company anticipates a substantial revenue impact from the distribution strategy changes implemented in the past.

Furthermore, American Airlines is adjusting its growth strategy to manage the oversupply in the domestic market by moderating its available seat miles (ASMs) growth in the latter half of the year. Despite this reduction in growth, cost control measures remain effective, indicating disciplined management. Linenberg's confidence in the airline's premium product offerings, strong network, and loyalty program also reinforces the belief that these factors will attract customers back to the airline, supporting the long-term value proposition of the stock. Hence, the combination of strategic readjustments and solid operational controls underpin the Buy rating given by Michael Linenberg.

In another report released on July 9, Morgan Stanley also maintained a Buy rating on the stock with a $18.00 price target.

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American Airlines (AAL) Company Description:

AMR Corp. Provides scheduled passenger, freight and mail services. The company provides services through its wholly owned subsidiaries which include American Airlines, Inc., and AMR Eagle Holding Corporation. The American Airlines, Inc. Provides scheduled jet service to various destinations throughout North America, the Caribbean, Latin America, Europe and Asia. AMR Eagle Holding Corporation owns two regional airlines which do business as 'American Eagle' which include American Eagle Airlines, Inc. And Executive Airlines, Inc. Which in turn collectively known as the American Eagle carriers. It also contracts with independently owned regional airlines, which does business as AmericanConnection. The company was founded in October 1982 and is headquartered in Fort Worth, TX.

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