‘Travel has changed forever’: Airbnb CEO Brian Chesky

Billionaire Airbnb Co-founder and CEO Brian Chesky told Yahoo Finance that the coronavirus outbreak has permanently altered travel preferences across the globe in ways that will shape the hospitality industry going forward.

“Travel has changed forever,” says Chesky, whose company suffered hundreds of millions in losses and laid off a quarter of its staff in the aftermath of the outbreak. “The world of travel as we knew it in January is never coming back.”

“I feel very confident about that,” he tells Yahoo Finance Editor-in-Chief Andy Serwer during a special All Markets Summit Extra: Road to Recovery on Tuesday.

Zoom meetings have largely replaced business travel, and leisure trips have shifted away from metropolitan areas toward easily accessible rural locations, he said.

“People are saying they do want to get out of the house, regardless what country they’re in,” Chesky says. “But they aren’t right now super comfortable getting on

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FTSE 100 dragged lower by travel stocks as more lockdowns kill holiday spirit

The beaches are popular tourist hotspots in the holiday season: AFP via Getty Images
The beaches are popular tourist hotspots in the holiday season: AFP via Getty Images

In more normal times, this week should have been the start of the summer holiday season. But with Barcelona among popular locations facing the possibility of a return to lockdown in the next fortnight, there were few signs of getaway optimism today.

Shares in airline, hotel and leisure companies were again squeezed on the London market, with investors increasingly nervous after a surge in coronavirus cases over the weekend.

Low-cost airline easyJet saw its shares fall 2% to 647.4p, while International Airlines Group was down 3% to 212.7p. The pressure on the British Airways owner reflected the increasingly worrying global picture, with Hong Kong this weekend reporting the biggest spike in cases since the start of the pandemic in January.

The flight from risk also meant GKN owner Melrose Industries, which makes parts for Airbus,

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All the countries UK holidaymakers can visit this summer

Alcudia beach, Majorca: istock
Alcudia beach, Majorca: istock

The government has announced a list of countries and territories where Britons will be able to go on holiday this summer without quarantining.

From 10 July, those travelling from 59 approved destinations into England, Wales and Northern Ireland and 57 countries into Scotland are exempt from the mandatory 14-day self-isolation period imposed on all inbound arrivals. (The lists are currently identical barring two omissions from the Scottish one: Spain and Serbia).

Alongside this, the Foreign Office (FCO) has published a separate list of destinations where it has now lifted its blanket advice against all non-essential international travel.

While the lists are not the same, there is an overlap of 46 countries for Scotland and 48 for the rest of the UK. For those looking to travel to one of the places where both elements of the “double lock” have been scrapped, there is another hurdle

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Travel & Leisure ETFs Jump on Vaccine Optimism

The development in the potential coronavirus vaccine has infused strong optimism into the broader markets. This is especially true, as Moderna Inc. MRNA has inched closer to a vaccine following promising early data (read: Moderna Inches Closer to Coronavirus Vaccine: ETFs to Shine).

The data demonstrates that vaccination with mRNA-1273 elicits a robust immune response across all dose levels as it produced neutralizing antibodies in all 45 patients. In the trial, each participant received a 25, 100 or 250 microgram dose, with 15 people in each dose group. Participants received two doses of the potential vaccine. The positive result has pushed the vaccine into the phase 3 trial, which is slated to start on Jul 27. The trial will enroll 30,000 participants across 87 locations, according to ClinicalTrials.gov. Participants in the experimental arm will receive a 100 microgram dose of the potential vaccine on the first day and another dose

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