Summer 2024 Outlook: Travel Intent & Consumer Preferences

Key industry trends show that leisure travel is set to outpace business travel in the coming months, with 61% of adults planning trips versus 35% for business. Hotels remain the favored lodging choice, although many leisure travelers also prefer staying with family or friends. Inflation is a significant concern, impacting decisions on hotel stays, travel by air, and car rentals. Notably, one-third of travelers are planning more leisure trips this summer than last, with hotels as a preferred accommodation.

In terms of hotel features, high-speed Wi-Fi and keyless entry are top priorities for travelers, highlighting the importance of technology in guest satisfaction. Inflation is a particular concern for younger adults and those with moderate incomes, suggesting hoteliers should strategize around pricing and value offerings. As the travel landscape changes, understanding these trends and consumer preferences is crucial for industry professionals looking to adapt and thrive.