Gen Z gives some hotels a surprising boost
Some hoteliers who cater to Gen Z are seeing many of today's young people spend more of their discretionary income on travel than millennials did
Gen Z, people born between 1997 and 2012, are part of a generation that wasn't allowed to travel during their formative years because of the pandemic, so they've developed an appreciation for it and would rather cut other budget items first.
Key takeaways
- Many people are emotionally invested in the idea that Gen Z faces significant hardships. However, by some metrics, they are financially better off than Millennials;
- Hoteliers are not suggesting that Gen Z has discovered hidden savings or that their spending matches that of Baby Boomers. Rather, they observe that many Gen Z members are willing to cut expenses in other areas to maintain their travel budgets;
- As a result, hotels are concentrating on creating experiences that attract Gen Z, emphasizing innovative design, social media engagement, and sustainability practices.
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