Starting to plan my vacation in 2020, I was wondering if the bankruptcy of a group of travelers so important from a tourism perspective (of course not one that is stuck in one of the resorts), plan a trip in a perspective a few months would be beneficial or rather disadvantageous.
Of course, the prices of airline tickets skyrocketed at first, but this was caused by the huge number of travelers forced to abruptly end their journey and return home, but it should (and is probably already back to normal).
Hotels hosting customers of Thomas Cook have been affected by the loss of their future income, but it also means that they have all the room they should be willing to offer. give at a reduced price (increase in supply), simply to get the least income.
Moreover, those who depend entirely on Thomas Cook could also go bankrupt, reduction of the total number of rooms (and decline in supply).
And there are also Thomas Cook's customers, who have (probably) already planned their holidays and are ready to go on family vacations (or using any other travel agent). They will add to the request.
My assumptions are
- airfare prices would rise (more people would go by themselves, which would increase demand)
- hotel prices would drop (some would be closed, which would reduce supply, but reduced demand should drive down prices)
Am I right or did I forget something? Do I have to wait to book a flight and accommodation or use the current situation?