Uploaded November 2025 | Updated September 2026, 2 weeks ago
In this week's episode of WSJ’s Take On the Week, guest host Miriam Gottfried speaks with Eric Resnick, CEO of private equity investment manager KSL Capital Partners, about the resilience of the travel and leisure sector. He explains why he sees leisure travel demand as a powerful anchor that allows the sector to defy pressures typically seen during an economic downturn. We dive into the outlook for corporate travel, the challenges facing new hotel construction, the rising experiential economy and what investors should be watching for as lodging companies like Marriott and Airbnb release their earnings this upcoming week.
Chapters:
00:00 Reduction of pricing power
00:28 Travel and leisure companies earnings
00:46 Eric Resnick of KSL Capital Partners
1:42 Leisure vs. corporate travel
2:38 Marriott, Hilton Grand Vacations, Airbnb
3:37 Hotel construction costs
05:20 Pipeline for hotel supply
5:57 Stronger international demand than in the U.S.
7:04 Reduction of travel to the U.S.
7:25 HGV and Airbnb focused on leisure consumer
9:15 What is a mass affluent consumer?
9:35 Consumer pessimism affecting travel?
10:58 KSL down in travel from Canada and internationally
11:34 Hotel companies no longer own their own real estate
12:18 KSL is an owner operator of hotels
14:17 How to own real estate as an investor
14:46 Is travel cyclical?
15:38 You can’t take a Zoom vacation
16:03 How has social media affected travel?
17:22 Rise of AI and the travel industry
This is WSJ’s Take On the Week where co-hosts Gunjan Banerji, lead writer for Live Markets, and Telis Demos, Heard on the Street’s banking and money columnist, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead.
Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com.
#WSJ #Marriott #AirBnB #Hilton
In this week's episode of WSJ’s Take On the Week, guest host Miriam Gottfried speaks with Eric Resnick, CEO of private equity investment manager KSL Capital Partners, about the resilience of the travel and leisure sector. He explains why he sees leisure travel demand as a powerful anchor that allows the sector to defy pressures typically seen during an economic downturn. We dive into the outlook for corporate travel, the challenges facing new hotel construction, the rising experiential economy and what investors should be watching for as lodging companies like Marriott and Airbnb release their earnings this upcoming week.
Chapters:
00:00 Reduction of pricing power
00:28 Travel and leisure companies earnings
00:46 Eric Resnick of KSL Capital Partners
1:42 Leisure vs. corporate travel
2:38 Marriott, Hilton Grand Vacations, Airbnb
3:37 Hotel construction costs
05:20 Pipeline for hotel supply
5:57 Stronger international demand than in the U.S.
7:04 Reduction of travel to the U.S.
7:25 HGV and Airbnb focused on leisure consumer
9:15 What is a mass affluent consumer?
9:35 Consumer pessimism affecting travel?
10:58 KSL down in travel from Canada and internationally
11:34 Hotel companies no longer own their own real estate
12:18 KSL is an owner operator of hotels
14:17 How to own real estate as an investor
14:46 Is travel cyclical?
15:38 You can’t take a Zoom vacation
16:03 How has social media affected travel?
17:22 Rise of AI and the travel industry
This is WSJ’s Take On the Week where co-hosts Gunjan Banerji, lead writer for Live Markets, and Telis Demos, Heard on the Street’s banking and money columnist, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead.
Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com.
#WSJ #Marriott #AirBnB #Hilton
