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Expedia CEO Peter Kern told CNBC on Monday that business travelers are back. In the year At the end of 2020, during the dark times of the Covid pandemic, it was predicted that they would return and that day has come.
“You’re here in Seattle. And I’m always traveling. So, I think business travel is back. I said it’s back from the first business trip. We’re seeing everything,” Kern said. With Jim Cramer of Expedia’s hometown for “Mad Money.”
Fast forward to today and it has, Kern said. “People travel like crazy. If you’ve ever been in an airport, you know that. Everyone complains about it. They’re overcrowded, they’re understaffed.”
Last year, Expedia agreed to sell its corporate travel arm to American Express Global Business Travel. As part of the deal, Expedia became a shareholder in Amex GBT and formed a long-term strategic partnership.
Kern’s company operates its namesake Expedia service as well as others in the travel industry, including Hotels.com, Hotwire, Travelocity and Orbitz. The company is behind Vrbo, a short-term vacation rental by owner. It competes with Airbnb.
With all those brands under one roof, Kern and Expedia definitely have their fingers on the pulse of the travel industry. The CEO said travel is growing. “There’s no question all summer and it’s been strong until September. It doesn’t seem like there’s much left,” he said.
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