Americans are setting vacation records

It’s now less about ‘revenge travel’ and more of a lifestyle like a generational shift in the prioritization of in-person experiences over goods

Leisure and hospitality is expected to fully recoup all its Covid-related job losses this year as American consumers continue to travel, dine out and spend on in-person experiences, especially during the summer.

Key takeaways

• The upcoming summer months might “set a record or be close to it” in terms of room occupancy, according to Chip Rogers, president and chief executive of the American Hotel & Lodging Association;
• A recent survey from Bank of America showed that 68% of Americans plan to take a vacation this year. Nearly three million Americans took a vacation from work in March, the highest number for that month on records going back to 1976, according to the government’s Current Population Survey;
• The pandemic did result in a permanent shift in preferences, particularly for younger generations. People used to create a bucket list of what they’d want to handle during retirement, but now they’re saying ‘why wait until retirement.’

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