Travel Trends are a Mixed Bag

If one thing can be said about the summer of 2022 and the hospitality world, it is that the data shows recovery, expectation, and destination are once again plausible, and increasingly sustainable.

With a touch of cautious, yet positive, optimism.

Dragonfly Strategists leadership on site for the Hotel Data Conference in Nashville included Caryl Helsel, CEO of the company; just one of a myriad of veteran hospitality specialists who presented during the three-day event.

Over the next few days, we’ll present four key data points from the HDC Conference for your consideration.

Let’s start day one with overall travel:

Travel is a mixed bag

• International travel outbound from the US is strong (due to the value of the dollar), but international travel into the US is not.  According to a May review by Tourism Economics, nearly seven million visits to international destinations occurred versus four million to the United States.

• Thanks to savings during the Pandemic and a “pent-up demand” for travel, spending continues to rise, especially for services and “experiences”. The Bureau of Economic Analysis numbers showed continued growth in that area versus a decline in nondurable goods.

• Gas prices have not reduced driving in terms of travel, as travel has followed last year’s trajectory, according to the Daily Travel Index by Arrivalist.

As seen in the graphic below, intentions to travel remain high:

Source: “Business Travel Breakdown”, Daryl Cronk, HDC Conference 2022