HSMAI Marketing Strategy Conference Lightning Round presentation by Andrea Deleon, Senior Director, Digital, Omni Hotels & Resorts, part of HSMAI Commercial Strategy Week 2022.
Mark your calendars for HSMAI Commercial Strategy Week 2023: June 26-29, Toronto, Canada!
HSMAI ROC Americas presentation by Adam Sacks of Tourism Economics, part of HSMAI Commercial Strategy Week 2022. The session focused on Tourism Economics’ latest views on the economy, the mindset of travelers, and expectations for how and when travel will fully recover; and uncover which are the most important economic principles for hoteliers to watch, and what they mean when we’re thinking about setting room rates, or trying to understand how customers might spend on F&B for events, and more.
According to the latest Longwoods International tracking study of American travelers, 44% of them say they are reducing the number of trips they are taking because of record-high prices at the pump, up from 36% in May. A similar percentage are also shifting to destinations closer to home as another way to cope with high gas prices. Only 12% of those surveyed said that rising gas prices are not impacting their travel plans. Insights on the findings for HSMAI from Longwoods President & CEO Amir Eylon:
According to the latest Longwoods International tracking study of American travelers, 41% of them say record-high prices at the pump will greatly impact their decisions to travel in the next six months, up from 32% in May. And 36% of travelers report that higher fuel costs and ticket prices are reducing the likelihood of booking air travel for the rest of this year.
Even with these price and cost concerns, 91% of travelers do have trips planned in the next six months. And only 16% of them say that coronavirus will greatly impact their travel plans in the next six months, the lowest level since the beginning of the pandemic more than two years ago. Insights for HSMAI from Longwoods President & CEO Amir Eylon:
Longwoods International’s tracking study reveals many reasons for optimism in that COVID-19 fears among travelers continue to recede, even as travel sentiment is being impacted by higher gas prices in ways that may alter traveler behavior. Add in the recent news regarding the lifting of most mask-wearing requirements in the U.S for travel, and a new wave of optimism is likely to be seen among travelers. Exclusive insights on the findings for HSMAI from Longwoods President & CEO Amir Eylon:
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