Airlines, hotels branch out with experiences to lure travelers

Casino operator MGM Resorts International is finding Formula One's inaugural stop in Las Vegas is as much of a draw as its slot machines this year, and it is not the only company realizing that travelers are increasingly seeking out experiences beyond the traditional draws for tourists. Global travel has rebounded in a big way in the post-pandemic period, but travelers are no longer plunking down as much cash on souvenirs, and instead splurging on sporting events or concert tickets in new destinations. Airlines, hotels and travel operators are increasingly capitalizing on that, venturing beyond their usual services to arrange bookings for special experiences to keep customers. "Our gaming revenues are up but relatively flat," MGM CEO Bill Hornbuckle told Reuters, saying revenue growth was being driven by entertainment, and luxury food and drink experiences. "There's just this appetite for experience at a higher level that people seem to be prepared to pay for." Around two-thirds of total travel globally is now booked online but just about 30% of things to do while on vacation are booked online, said Dan Wasiolek, Morningstar equity analyst. Traditional hotel and flight operators are trying to tap into that business. American Airlines in June started giving loyalty members the ability to earn flight miles and points on entertainment purchases when they book through the airline's website. The company said it has seen a significant increase in members using the site to purchase event tickets.<br/>