As loyal subscribers know, we had our annual Skift Global Forum in New York City this week. It was three days with over a thousand travel leaders in attendance, dozens of executives on stage, and at least one prince (with whom yours truly got to sit down and have a chat about sustainability).

President Trump was not there in person – he was crosstown at the United Nations General Assembly – but he still loomed large. Here's how the Trump Effect showed up at Skift Global Forum this year:

Oil, Hormuz, and the Airlines

No part of the industry has felt the administration’s policies more than the airlines. And no airline has felt it more than Qatar Airways. Group CEO Hamad Al-Khater had been in the job 81 days when the Iran war began on February 28. Speaking with Skift airlines editor Gordon Smith, he called it the biggest crisis in the carrier's history. Jet fuel is up 90% since February 28 and Al-Khater said prices will stay "higher for longer for sure." He cited a rough rule of thumb for the impact: for every month the Strait of Hormuz stays closed, oil remains about $20 higher for an extra seven months. 

Across the Atlantic, a similar narrative was playing out for the new Virgin Atlantic CEO Corneel Koster. He was just 59 days into his tenure when the war started, calling it "a completely unexpected storm." He said oil and fuel prices doubled overnight, which is "not good for the world economy either." 

The Policy Tailwind

Hilton's Christopher Nassetta was more optimistic (as he is known to be). Nassetta tied his forecast of lower long-term interest rates to getting "the Middle East to settle down" and oil prices back to a reasonable level. Nassetta also gave the most direct take on the administration. He called current tax policy the friendliest of his career and praised deregulation pursued "super aggressively," crediting reshoring and data center buildouts with filling midweek hotel rooms. He also gave credit to Biden-era infrastructure spending, and said his job is to "lift up above the noise" of politics.

The White House Photo

During my conversation with Hyatt CEO Mark Hoplamazian, Skift CEO Rafat Ali asked from the audience whether he'd been invited to the recent industry meeting with Trump at the White House, which drew criticism for its all-male photo. He was, he said, but had an investor meeting. CBS News' Peter Greenberg raised the same photo with Carnival's Christine Duffy the next day. Both conversations turned to women's underrepresentation in travel leadership.

The View From Abroad

Investor Greg O'Hara, who lives mostly in Europe, said he plays "American apologist" there, fielding questions like whether Trump would really bomb Oman and explaining that the president often speaks in hyperbole. Chef Vikas Khanna said he told Trump directly that he objects to India being called a "developing nation."

AI and 2028

If there was one dominant throughline at Global Forum this year, it was artificial intelligence: The good, the bad, and the existential. Steve Case predicted the 2028 presidential election will be partly a referendum on AI. He called for federal rules before a patchwork of state laws takes hold.

There’s an open invitation for you at Skift Global Forum next year, Mr. President.