That fabled Parisian den of opulence and hive of hip, Costes, has landed in London. What will we make of this haven for the haute monde, just across from Peter Jones, that bastion of sensible Britishness and the very reverse of chic?
Consumers have spent a great deal on leisure spending in 2023, with Carnival's (CCL) stocks seeing 60% gain over the last year. Some markets, however, have not seen the same success, like mountain resort company Vail Resorts (MTN) which is down more than 10% since last year. Paul Golding, Macquarie Capital Analyst, joins Yahoo Finance to give insight into how different businesses in leisure travel have been able to succeed during times of inflation and why certain ones have struggled. Golding expounds on why cruises did so well: "Cruise has been benefiting, in our view, from some of these dynamics on later international re-flation and the value proposition that cruise represents versus land-based alternatives. We heard during the Q3 earnings call at RCL [Royal Caribbean Cruises] that they continue to see a 35-40% discount versus land-based, whereas pre-COVID that discount was about 10-15%. " For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Few months spark a yearning for somewhere brighter and hotter than December. And with the UK in the midst of a wintry spell, it is once again time to start dreaming of swaying palm trees and whooshing waves to ring in the new year.
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