More hotel development than ever

You may be aware that we've been adding Booking Holdings shares to client portfolios, if they send fresh cash. This is because we think that leisure tourism is going to boom over the next few decades. Humans are traveling as if they don't remember Covid. The sky is literally the limit!

Service providers in the tourism industry are well aware of the potential to make more money. More new hotels are being developed than ever before, especially at the top end of the market. Existing facilities are being upgraded. Cruise boat-building yards are booked up.

Global hotel groups like Marriott International, Hilton Worldwide, and Four Seasons are increasing their footprints, and deep-pocketed individuals are also developing ultra-luxury destinations. This is not just happening in Europe, and North America, it's also accelerating in Africa, Asia and South America.

Tour operators are adding activity-based offerings such as runs, hikes, cycle tours, water sports, wine making, and much more.

Governments are also waking up to the potential, developing more airports, adding runways at existing airports and connecting them to public transport systems. Heritage sites are being redeveloped with both public and private funding. There is still only one Mona Lisa at the Louvre, but Paris will have more things for tourists to do soon.

Another trend is the widening of the tourism season, from what was historically the key summer months. In the northern hemisphere, the months from June to August are very hot, and very crowded. The so-called "shoulder months" are becoming popular too, which is helpful for both customers and providers.

This trend has great potential. It's time to hop aboard.