People ought to begin making journey plans now before prices go up, warned Booking Holdings CEO Glenn Fogel.
“People want to travel. Everybody’s just anxious to get their lives back the way it used to be. So I would say go out there, look at [prices] now, if you have to cancel, you cancel,” Fogel mentioned on CNBC’s “Closing Bell.”
Most airways have dropped cancellation charges, so there isn’t any hurt in cancelling a reserving, mentioned Fogel.
“I do see prices going up in some places and certainly we’ve seen some airfares going up to for the summer,” Fogel instructed CNBC, urging potential travelers to make their plans as quick as they will to keep away from paying extra later.
U.S. airways misplaced a mixed complete of about $35 billion final 12 months as individuals turned cautious of touring in the course of the Coronavirus pandemic. Passenger counts dropped by over than 60% final 12 months in contrast with 2019.
Despite the pandemic’s toll on journey, Fogel stays optimistic concerning the business’s long-term prospects. He’s additionally hopeful concerning the vaccine rollout, regardless of the uncertainty over new Covid variants.
“Travel is one of the greatest industries in the world. People are always going to want to travel,” mentioned Fogel.
Booking Holdings owns fashionable journey websites together with Kayak, OpenTable, Bookings.com, Priceline.com and Agoda.
Shares of Booking Holdings gained 3% Monday.