Travel prices to keep rising in 2023
The new year will see fewer last-minute travel deals, and more higher prices
The upsurge in travel demand means that the days of booking a cheap flight or hotel room at the last minute may now be in the rearview mirror.
Key takeaways
- With fewer seats available to book and strong demand, airfare will continue to be inflated until supply begins to outpace demand;
- Prices for the top 5 most searched for international hotel destinations are all considerably higher than at this time last year;
- Hotel prices in the US for 2023 check-ins are currently averaging $220 per night, a 60% increase from this time last year.
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