World News – California – Travel companies hail Pfizer Covid vaccine news as a « welcome step » toward re-ordering

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Throughout the Coronavirus pandemic, travel managers have been pinning their hopes on a Covid-19 vaccine that will save their industry, which has suffered from the fallout from the health crisis

After the news on Monday of Pfizer vaccine data showing more than 90% efficacy among participants without evidence of a previous infection, CEOs from major cruise lines and hospitality companies welcomed the hack

“TripAdvisor has long believed travel will recover strongly once a vaccine becomes widely available. Today’s Pfizer news is a welcome step in the right direction,” TripAdvisor CEO Steve Cowver told CNBC in an email

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Travel executives hope the effective vaccine will speed up the schedule around when travelers feel comfortable coming back

While questions still revolved around vaccine supply and distribution, data from Pfizer was sufficient to feed stocks traveling to the top of S&P 500

“This is a very positive development for the world, and of course for our company and our brands as well as the cruise industry it is too early at this point to determine the impact of this on the conditional sail command at U Q, Â if any,” Carnival wrote in an email to CNBC

Its shares rose nearly 40% on Monday on the best carnival day ever as a public company launched to the public in 1987

Royal Caribbean CEO Richard Vine has often described the vaccine as the « ultimate weapon » to tackle Covid-19, Royal Caribbean shares rose nearly 29% on its best day since March

In the meantime, cruise operators are working around the clock, setting up testing facilities for all crew and conducting simulated trips using their new Covid protocols. Once the CDC sees safety protocols appropriate, it will provide the green light halted Carnival and Royal Caribbean The Norwegian Cruise Line U sailing for the remainder of 2020

The Norwegian Cruise Line announces quarterly dividends after the bell on Monday, as shareholders will want to know if the January 2021 start date is possible

Analysts also wonder if the new administration led by President-elect Joe Biden will lead to different protocols for the cruise industry The industry has received support from Vice President Mike Pence, who is reported to have reversed the CDC’s decision to extend the cruise ban until February 2021. The CDC lifted the no-sail order at the end of October and issued a framework for a conditional sail order

Patrick Scholes, managing director of Truist Securities, said he thinks the Biden administration « is likely to follow CDC recommendations when it comes to health matters » Â

Hotel operators also joined the market rally on Monday, as Marriott is in full swing for its best day since March

Online travel giant Expedia rose 20%, on track for the largest percentage increase since 2012, closing up 246% at a new 52-week high

Investors hope that access to a vaccine will boost travelers’ confidence and lead to a spike in reservations next year before the Pfizer vaccine news is published, Marriott CEO Arne Sorenson said in the company’s earnings call last Friday, Purposefully seeing more reservations when these vaccines take effect. « 

Booking Holdings CEO Glenn Vogel said on CNBC’s « Closing Bell » that he is optimistic about the positive results of Pfizer and German partner BioNTech, however, warning that the travel industry still has a « long and long way » before To return to pre-epidemic levels

“There is a lot of uncertainty, and I will not change what we said last week. It will take time,” Vogel said. “We think it will be years, not quarters, before we recover” to 2019 levels

Shares of Booking Holdings, which own brands like Booking.com and Priceline.com, closed more than 18% on Monday.

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Royal Caribbean Cruises, Cruise ship, Cruise line

World News – CA – Travel companies are promoting Pfizer Covid vaccine news as a « welcome step » towards re-ordering


SOURCE: https://www.w24news.com

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