If there have been a motto that captured shopper sentiment towards summer season journey this 12 months, a prime contender can be, “It doesn’t matter what.”
Greater than half of vacationers polled (54%) in McKinsey & Firm’s June 2022 survey are heading to the … [+]
So says a survey of greater than 1,000 vacationers within the U.S. performed in June by McKinsey & Firm. Its findings reveal that leisure journey is booming—and 68% of these polled are sticking to their summer season trip plans regardless of a slew of potential deterrents, skyrocketing inflation amongst them.
Vacationers are sticking to their trip plans this summer season, in keeping with a brand new McKinsey & Firm … [+]
Merely put, journey’s perennial enchantment—arguably amplified by the influence of the Covid-19 pandemic—looms giant. When respondents have been requested what they’d do with hypothetical lottery proceeds, spending on journey was the No. 2 reply (behind saving/paying down debt). And whereas considerations about macro-economic components linger, they’re not sufficient to persuade vacationers to cancel their trip plans.
Which isn’t to say they’re not making changes. Venturing nearer to residence, shortening their journeys, and choosing cheaper lodges are only a few methods savvy vacationers are navigating rising costs to make sure they will get pleasure from summer season’s fleeting days.
Whereas vacationers are making changes to sidestep rising costs, they’re nonetheless opting to hit the … [+]
The proof of journey’s triumphant return lies within the numbers. In accordance with the survey, income per accessible room (RevPAR) within the U.S.—a key efficiency metric within the resort trade—is outstripping not simply 2020 and 2021 ranges, however more and more 2019 ranges as nicely. Whereas lodges aren’t as full as they have been in 2019, charges have elevated—the common day by day price (ADR) stands round 15% costlier now than it was three years in the past.
