For today's pod we look at decreasing travel spending, Delta's bet on premium, and Hyatt's luxury hopes in the Asia-Pacific region.

Good morning from Skift. It’s Tuesday, July 15. Here’s what you need to know about the business of travel today.

New data has revealed that consumers are pulling back on travel spending, with some households doing so completely, reports Managing Editor Lex Haris.

The Bank of America’s monthly report for June found more spending going toward necessities like rent, utilities, and insurance and away from what it calls “nice to haves.” Taylor Bowley, an economist at Bank of America, said households are generally making less transactions per month when it comes to travel.

Liz Everett Krisberg, head of the institute, said the pullback on travel spending is mostly from lower-income households. 

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Next, Delta Air Lines is in the process of testing how to segment its premium cabin, which would essentially create different tiers of business class for customers, writes Airlines Reporter Meghna Maharishi. 

Delta President Glen Hauenstein said during a recent call with analysts that the carrier has seen its margins continue to expand in premium. Hauenstein didn’t specify exactly what business class could look like for consumers, but Delta is conducting surveys with consumers about making changes to its premium product.

Maharishi reports Delta’s idea comes as airlines are becoming increasingly reliant on premium travelers. Hauenstein said Delta’s premium revenues were up 5% from last year. 

Finally, while several global hotel chains are investing heavily in budget and mid-range offerings, Hyatt is focused on beefing up its luxury portfolio — especially in the Asia-Pacific region, writes Asia Editor Peden Doma Bhutia.

Hyatt plans to open nearly 90 new hotels under its luxury and lifestyle brands across Asia-Pacific over the next five years. The company’s plans include the first-ever Thompson Hotels property in the region and expanded openings for Park Hyatt across destinations like Thailand, Malaysia, and Australia.

In addition, Hyatt is looking to double its presence in India, from 50 to 100 hotels within the next five years. 

- NEW YORK CITY