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Concourse Annual

The State of Travel — 2026 Annual Outlook

An integrated read on the global travel economy: demand, supply, capital flows, and the structural shifts shaping the next five years.

January 15, 2026·142 pages·Subscriber access
Abstract

Our flagship annual outlook. A single, integrated read on the global travel economy across aviation, hospitality, distribution, fintech, short-term rental, business travel, AI, and destinations. Includes our base, bull, and bear cases through 2029.

Authors
Eleanor Reyes
Eleanor Reyes
Managing Partner, Aviation & Distribution
Daniel Park
Daniel Park
Partner, Hospitality & Hotel Investments
Anya Volkov
Anya Volkov
Partner, Travel Fintech & Payments
Marcus Chen
Marcus Chen
Partner, AI & Emerging Platforms
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