Inflation is having a significant impact on travel plans across the United States this summer.
According to a recent survey commissioned by the American Hotel & Lodging Association (AHLA) and conducted by Morning Consult, fewer Americans are planning to stay in hotels due to rising costs.
More adults plan to travel for leisure (61%) than for business (35%) in the next four months. However, inflation is causing many to reconsider their plans. The survey found that 55% of adults are less likely to stay in hotels, and 51% are less likely to travel overnight because of inflation.
Despite the challenges, one-third of travelers (34%) plan to increase their leisure travel this summer compared to last year. Interestingly, 31% of respondents are more likely to stay in a hotel this summer than they were last summer.
Hotels remain the preferred lodging option for most travelers, with 46% of leisure travelers and 60% of business travelers choosing hotels. However, many leisure travelers (33%) prefer staying with family or friends, especially during holidays.
Inflation is particularly affecting young adults (18-34), men, and those earning $50,000-$100,000 annually. These groups are more likely to reduce their hotel stays due to higher costs.
In summary, while leisure travel is on the rise, inflation is causing many Americans to rethink their travel plans, leading to fewer hotel stays this summer. Despite this, hotels continue to be the top choice for many travelers, highlighting the ongoing appeal of hotel accommodations.
