Holiday costs to jump in summer, warns travel boss

[sarahazhari]

Booking.com's chief executive Glenn Fogel told the BBC that holiday "prices are already going up".Many airlines have significantly reduced the number of flights they operate due to travel restrictions.
Despite huge demand, uncertainty makes it hard for airlines to plan bringing more planes back into service, he said."There's so much pent-up demand," said Mr Fogel. "Everybody wants to go travelling, but we all want to do it safely."

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But Mr Fogel, who is chief executive of both the Dutch-based Booking.com and its parent firm Booking Holdings, told investors that there is still reason to be optimistic things will improve."While the pace of vaccine distribution remains frustratingly slow in most places around the world, Israel, the UK and the US are benefiting from successful vaccine distribution programs," he said."In each of these countries, we have seen encouraging booking trends, which supports our view that vaccine distribution is key to unlocking pent-up travel demand."