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Consumer franchise

We are seeing a return to the pre-pandemic trend of consumers buying experiences over things, with leisure travel rebounding much faster than business.

In Las Vegas, weekend occupancy hit 84% in April and total airline seats to McCarran Airport are expected to surpass 2019 levels by the fall. Leisure-heavy lower-end hotel brands in the U.S. have almost fully recovered.

Ski resorts performed particularly well in the pandemic. Visitation to Vail Resorts in the second half of winter ski season was down only 3% compared to this time in 2019. Early indications of ski pass sales for next season are strong.