Monday, November 16, 2020

Travel Won’t Go Back to Normal Even After a Vaccine, Top Exec Says

 
 STR/AFP/Getty Images

Avi Salzman
Barrons

A widely distributed Covid-19 vaccine would clearly help travel companies in 2021. But the industry won’t simply bounce back to its pre-pandemic levels, one top travel executive told Barron’s.

Trivago (ticker: TRVG) Chief Financial Officer Matthias Tillmann thinks Pfizer’s (PFE) latest news about its vaccine was a welcome development, especially given that the early results show it could be more than 90% effective. But his company, which helps people search for accommodations around the world, is preparing for a long-term shift in travel patterns. And it’s not betting that a vaccine will turn everything around next year.

“If we really get it by year-end, it will probably take time in 2021 to distribute this so it won’t have a big impact on our industry,” he said in an interview on Friday. “But then 2022, it can be a big game changer.”  Read more >>