Bentley’s 2023 Continental GTC Speed: A Cheetah in a Lion Suit

To most driving enthusiasts, there is nothing as pleasurable as a warm day tooling round country roads in a ragtop. The smell of freshly mown lawns wafts in your nostrils; the sun’s rays bathe the atmosphere in warm tones. It doesn’t get much better.

Well, actually it does. Make the car a Bentley Continental GT. Glutton for more fun? Make that Bentley a convertible, or GTC Speed. Recently, Penta had the opportunity to wend our way around Sullivan County, New York, and put a GTC Speed through its paces.

The Drive

Given its weight, at roughly 4,800 pounds, it is no surprise that it offers a solid feel and holds the road without much effort. The GTC Speed feels a bit like a land yacht, but in a good sense. That is, when you climb aboard you know right away that you’re in for a treat and that the ride could take you anywhere. And like the U.S. Navy, the GTC Speed (standard MSRP US$317,000) projects power.

The car we drove was priced at US$379,00 because it was ladled with cushy options like a custom-made sound system, so that you can share your musical faves with your neighbours; 22-inch wheels for better grip and handling; and a high-gloss fibre finish, among many other accoutrements. A king’s ransom? Yes. However, the Bentley is often measured against the Ferrari Roma or the Mercedes Benz S65 AMG. That’s rarefied competitive air. The engineers in Crewe, England, pride themselves on making sure this GTC is capable of taking you on a long drive comfortably at 90 mph as well as on a quick run to the local grocery store. Think of a cheetah in a lion’s suit, and you get the picture.

It tops out at 208 mph, in case you need a latte really quickly. We took it to 161 mph in sport mode for a few moments and enjoyed a marvelous and mischievous thrill ride, and no smokies with radar guns. For obvious reasons, what interstate we managed this is a top business secret. [But don’t try this at home!] And if you love big engines, note that next year’s models will be the last with such W-12 muscle, part of a greener Bentley, as Penta has previously reported.

The Specs

The vast hood hides a 6.0-litre, twin-turbocharged W12 engine, a monster that delivers bold power as well more graceful manoeuvring than otherwise might be expected from such a heavy car. The horsepower is rated at 650 and the car obtains gas mileage of 15 city and 22 highway. Bentley says it will do 0 to 60 mph in 3.6 seconds. Other Bentley Continental GTs are available with a V8 engine, for those more concerned about the environment.

The Bentley GTC Speed offers four driving modes: Comfort mode is a likable combination of a speedy roadster that will take you to 100 mph, before you even notice. Call it relaxed cruising.

Move to Sport mode and the GTC does its unique version of a squat thrust, and off you go. Sport mode optimises the engine, transmission, and suspension to boost dynamic ability, and when engaged, it should be immediately felt by the driver. And the engine, normally quiescent, begins to roar through the two exhausts in the rear. The other modes are Bentley, a combo of sport and comfort, and Custom. The chassis system features rear-wheel steering, which improves cornering at speed.

The colour of the model we drove is called Kingfisher.
Vito Racanelli

From the front, back, or side it’s a handsome car, and certainly gets its share of acknowledging looks from pedestrians. The Bentley GTC driver quickly learns to recognize the envy of onlookers and other drivers. The color of the model we drove is called Kingfisher. We plebs would say it was a sweet shade of light blue. OK, Kingfisher, if you must. The GT hardtop is just US$259,000 before options but we recommend the GTC Speed convertible, unless you live way up North. The Bentley line up consists of a range of GT and GTC models that can be customized for engine size and hp; convertibles and hardtops; and colors, etc., among other accouterments.

The Cabin

In a few words, luxurious and spacious for the front two passengers, but little room for others in the back seat. It’s a GT 2+2, typical in that the back seats are negligible for humans. As we tested a convertible, we shoehorned a 6-footer into the back seat with the top down, but the advantage of being able to lick your knees was somehow lost on our uncomfortable passenger. Best to keep the backseats to dogs or children.

What’s Not to Like

Penta has noted in other expensive luxury sports competitors to Bentley: the invasion of plastic in the cabin. Yes, it lightens the car’s weight, improves performance, yadda, yadda, yadda. But even a little is a lot for cars at this price level. This Bentley does have plastic here and there in the cabin. Not a lot, but really, one might expect control knobs made of gold in this price range. And the gasoline tank dial could be bigger and better placed, but you get used to it. Maybe you don’t want to see, or care, for that matter.

At the end of a long summer’s day driving the GTC Speed, you feel as if you are in a fast and mobile Four Seasons Suite.

AI agents like Muse can already find you the cheapest hotel room in Paris. But they can’t locate a cheaper version of that Catskills cabin you’ve been eyeing, because it might only be available on Airbnb ABNB -1.43%decrease.

Investors should pay attention to that distinction. When Meta Platforms META 3.38%increase launched its Muse agent last month, travel stocks including Booking Holdings BKNG -1.19%decrease, Expedia and Airbnb all fell sharply.

Airbnb, though, has a real chance to emerge as a winner from the upheaval. The catch: Its stock already reflects above-industry growth. To justify its valuation, Airbnb will need to turn repeat customers into loyal ones.

Online travel companies make much of their money by simplifying search and collecting fees on bookings. AI agents threaten that model.

But not all travel marketplaces are equally exposed. Booking and Expedia largely sell hotel rooms that travelers can also book directly or through competing sites. If an agent can find the same room elsewhere, it has little reason to favor either Booking or Expedia.

Booking and Expedia also sell sponsored listings that steer travelers toward particular properties. Wells Fargo estimates those will account for about 8% of Expedia’s revenue and a much higher percentage of profit next year.

Airbnb has more ways to adapt. More than half its listings are available only on its platform, and more than 90% of its traffic comes directly to its app or website.

The customer relationship doesn’t end after booking, either. Bernstein analyst Richard Clarke notes that 90% of Airbnb guests go on to message their hosts about arrival times, keys or local taxes, giving Airbnb a connection to both sides of the transaction.

How the companies have responded to the possible agentic future is telling.

Expedia quickly signed on as a Muse partner. Airbnb hasn’t, and Chief Executive Brian Chesky says AI chatbots have so far been a boon, sending customers to Airbnb’s website.

Chatbots might work for buying paper towels, he quipped at a Skift conference last month, but people enjoy planning trips. He argued that browsing dozens of homes isn’t something a text-based chatbot is well suited for.

Still, the AI jitters arrived just as Airbnb was persuading investors it deserved its pricey multiple. For years after its 2020 initial public offering, the stock—which trades around 25 to 30 times forward earnings—went nowhere. Investors saw a mature operator trading at a growth premium.

This year, Airbnb growth seems to be accelerating. The stock jumped in August after the company raised its full-year revenue-growth guidance with its second-quarter results. Wells Fargo analyst Ken Gawrelski credits a run of product improvements under a revamped leadership team.

Among the changes: letting guests reserve now and pay later, adding hotels, and a redesigned home page and app. Investors were also betting on what comes next, including thousands more hotels, car rentals and, eventually, advertising.

The irony is that some of those growth drivers push Airbnb closer to the kind of business Booking and Expedia run—the kind of business AI agents could threaten. Even if AI agents capture a large share of travel planning and booking, Airbnb would capture the demand. But it and others would slowly lose control over how customers find and choose properties.

That would undermine the advertising opportunity investors are counting on. The bigger point for Airbnb and other marketplaces is that losing control of customer acquisition could mean surrendering some of their pricing power and margins.

To bulletproof itself, Airbnb might look to another e-commerce giant that has so far kept AI agents at arm’s length: Amazon.

Like Amazon, Airbnb has a loyal customer base and hard-to-match supply. But it has nothing like Prime membership to make customers think twice before taking their business elsewhere.

That is where loyalty comes in. Business travelers stick with Hilton or Marriott because enough nights earn them perks. Leisure travelers rarely accumulate stays with one chain. Airbnb has millions of listings and plenty of repeat customers, but no broad rewards program. It has begun experimenting with credits on hotel stays, but it should make loyalty a priority, not just a promotion.

Airbnb also plans to launch its own AI agent next year. But travelers using an agent might still want it to search Airbnb, Vrbo, Booking and hotel websites alike, rather than limit itself to one company’s inventory.

Eventually, Airbnb might have to strike deals with agent makers, using its unique homes as leverage to negotiate favorable terms, says Gawrelski. Such deals, along with rewards for loyal guests, could over the long term eat into the company’s roughly 13% take rate, he adds. But if they bring in enough additional bookings, the trade-off could be worthwhile.

History offers a reason not to panic. The shift from desktop to mobile unsettled investors in Alphabet and Amazon, but both emerged as major beneficiaries. Companies with valuable assets can come out of a platform shift stronger, if they adapt quickly enough.

Airbnb has homes the bots can’t easily replace. Now it needs to give guests a reason to insist on booking them there.

Bentley’s 2023 Continental GTC Speed: A Cheetah in a Lion Suit

AI-powered travel agents are challenging online booking platforms, but Airbnb’s exclusive listings and direct customer relationships could give it an edge. Its next challenge: turning repeat guests into loyal customers through stronger rewards and innovation.