46% of Americans planning a trip this year US-based properties, carriers, and destinations stand to attract the lion’s share of travel spend, as just 15% of Americans (27% of travelers) plan to take an international flight. High international airfares could be a factor, along with unpredictable entry and exit regulations and the possibility of ending up stranded overseas after testing positive for COVID-19. The US hospitality industry has a busy summer ahead, with 67% of travelers planning hotel stays, and 16% planning rental stays (figure 2).
As the COVID-19 pandemic moves through unpredictable ups and downs, intent to travel continues to climb higher. Unhindered by continued news about variants or by rising airfares and hotel rates, travel intent has reached a level that would have been high before the pandemic—46% of Americans are planning a trip involving stays in hotels or other types of paid lodging. Young Americans are traveling the most, but those over 55 are also dropping some of their hesitance to return to the roads and skies in greater numbers.
Many still embrace measures to mitigate the spread of the virus—from masking on airplanes to choosing destinations and attractions that allow for social distancing. But the pandemic’s effects on travel plans appear to be fading.
Financial concerns have some staying home, but those who do plan to travel are prepared to increase their budgets. Nearly three in 10 travelers plan to spend more than they did in 2019, and high airfares and room rates are the number 1 reason why (figure 1).