WASHINGTON–Credit unions that haven’t already rethought and repositioned any travel-related cards programs they might offer might want to do so in response to new research showing a majority of Americans don’t plan to travel for the remainder of 2020.
The new survey, conducted by Morning Consult on behalf of the American Hotel & Lodging Association (AHLA), found just 44% of Americans are planning overnight vacation or leisure travel in 2020, although those planning to travel expressed high interest in road trips, family events, and long weekends over the summer months. Of those who will travel, 68% said they are likely to stay in a hotel in 2020.
Among the other findings:
- Among Americans planning to travel in 2020, 59% expect to take their first overnight trip by the end of the summer. Summer road trips will take center stage, with 72% planning an overnight vacation via car over the next five months. Of these, 75% expect to drive two or more hours.
- On their next overnight trip, 43% plan to stay with family and friends, and 39% plan to stay in a hotel; just 9% plan to stay at a short-term rental such as Airbnb or VRBO, and five% in a camper or RV.
- Nearly eight in ten (78%) are planning a trip of four days or less suggesting long-weekend trips will be first vacation travel to return.
Other Key Findings
Among the key findings for those planning to travel in 2020, according to the American Hotel & Lodging Association survey:
- What kind of travel they’re planning: 81% expect to take a day trip and 72% expect to take an overnight vacation via car within the next five months. The overwhelming majority do not expect to take cruises (14%), camper/RV trips (28%), or vacations via plane (32%) in 2020.
- How far they’re traveling: Among those planning a vacation via car, 75% plan to travel two or more hours (40% plan to drive more than four hours, and 35% plan to drive two to four hours).
- Where they’re staying: On their next overnight trip, 43% say they will stay with family or friends, 39% in a hotel, 9% in a short-term rental, and 5% in a camper/RV.
- How long they’re staying: 78% are planning trips of four nights or less.
- Why they’re traveling: 55% plan to travel for a family event, such as a wedding, birthday, anniversary, or family reunion; 50% plan to travel for Christmas, 43% for Thanksgiving, 33% for 4th of July, and 30% for Labor Day.