Airfares, Hotel Rates and Gas Prices Rose This Summer, but Travel Demand Held Steady, CNBC Reports
Despite higher costs across flights, lodging and fuel, Americans continued to book trips, according to CNBC, which suggests a similar pattern may carry into the fall travel season.
Airfares, hotel rates and gasoline prices climbed over the summer months, yet American travelers largely continued to spend on vacations, according to a report published by CNBC on September 15.
The report, citing travel and cost data reviewed by CNBC, said that if the fall travel season mirrors the summer, consumers can expect to pay more for flights, hotel stays and gas, but demand for trips is likely to remain resilient.
CNBC did not specify exact percentage increases in its excerpted summary, but characterized the trend as one in which rising costs across multiple categories of travel spending did not appear to deter Americans from taking vacations.
The report frames the summer travel pattern as a possible indicator for how the upcoming autumn season could unfold, suggesting continued willingness among consumers to absorb higher prices in order to travel.
Further details on the specific price increases, regional variations, or the sectors most affected were not included in the available excerpt of the CNBC report.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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