As U.S. travelers look ahead to the second half of 2010 and beyond, the general sentiment is clearly more positive than it was in 2009. Recovery has technically begun; but most travel companies still are not feeling much relief. In an upcoming Online Event and comprehensive research study and analysis, PhoCusWright reveals and explores the state of consumer travel in the U.S.
The May 26 Online Event (12:00 pm EDT), Cutting Losses, Rebuilding Confidence: Key U.S. Traveler Insights, presents the top U.S. consumer traveler trends, with an emphasis on traveler behavior and the trends shaping lodging, air travel and other travel components. This unique, one-hour event draws on some of the key findings contained in PhoCusWright’s Consumer Travel Report Second Edition. Among the most significant U.S. consumer traveler trends:
Travel takes a one-two punch
* Not only did fewer people travel (-11%), but those who did travel spent less (-15%).
Recovery will be restrained
* While fewer consumers plan to pull back on their travel in 2010, the percentage of those who plan to travel more has not increased.
Quality, not quantity
* Even though travelers took fewer trips in 2009 compared to 2008, the trips they took were longer; trips of four nights or longer accounted for 59% of all trips in 2009.
Economy busts the boomers
* Older consumers (45+) pulled back on travel earlier than younger travelers, and were less likely to travel in general.
* Younger travelers (under age 35) showed larger year-over-year declines in travel spend than older travelers, and their optimism about travel intentions has sobered.
* However, they still had a significantly higher incidence of travel than older travelers.
Planning is more focused
* The number of sites used across the destination selection, shopping and booking phases has decreased slightly from 2008.
OTAs gain on hotel sites
* Online travel agencies (OTAs) gained share among hotel bookers, but not so much with air.
Upscale travelers want it all
* Bigger-spend travelers are more likely to patronize upscale and luxury hotels than lower-spend travelers, but they are also almost as likely to stay in midscale hotels.
PhoCusWright’s May 26 Online Event, Cutting Losses, Rebuilding Confidence: Key U.S. Traveler Insights, is presented by Carroll Rheem, director, research at PhoCusWright, and moderated by Lorraine Sileo, vice president, research. The format consists of a 45-minute presentation, followed by a 15-minute Q&A session.
PhoCusWright’s Consumer Travel Report Second Edition provides an overview of the state of consumer travel in the U.S. and insights into key indicators for the upcoming year. The report explores a range of topics, including travel incidence, general travel behavior, channel usage and psychographics. For executives who rely on insight into U.S. travelers’ behavior and attitudes, this report is an indispensable resource (expected publication date: May 21, 2010). Save 15% off the regular report price of US$1,695 through May 31 with early-bird pricing.