On January 27th, the U.S. Travel Association issued its “State Of The Travel Industry” address, with president Roger Dow calling the year 2021 “Travel’s Next Great Chapter.” If the past two months are any indication, it seems that chapter is already being written — and it’s proving to be a very engaging read for independent hoteliers!
While it may be too early to declare an end to global travel woes, early reports from partner properties of The Guestbook in North America are certainly encouraging. Anecdotally speaking, the number of spring and summer bookings seem to be rising proportionally with the number of Americans being vaccinated. After a year of staying home, it is obvious that travelers are longing for a change of scenery and some worry-free dining and entertainment experiences. We’re already hearing reports of properties having to scramble to bring back staff in order to meet the upsurge in visitors. And it will only get better from here.
The recently released “Global Travel Trends Report” from American Express indicates a pent-up demand unlike anything the travel industry has ever experienced. The report, summarized in a businesswire article, includes several interesting insights into consumers’ growing desire to travel, including the fact that “87% of people surveyed said that having a trip planned in the future gives them something to look forward to,” and that “76% of respondents are creating their destination wish list for future travel even though they might not be able to travel yet.”
What’s more, Travel Forecast predicts a robust 23.2% increase in U.S. travel in the coming months, resulting in a 2021 Travel Price Index of 3% (a dramatic shift from 2020’s -9.2%). Things look even more promising on the international travel front. The United Nations World Tourism Organization is especially optimistic about the second half of 2021, and sees the lifting of travel restrictions, the success of vaccination programs, and new protocols such as the EC’s Digital Green Certificate to be key factors in an estimated 66% year-over-year increase in international arrivals.
While it seems clear that leisure travel will be first to return to pre-pandemic levels, according to a February article from Reuters, business travel may not be far behind. According to the Global Business Travel Association’s (GBTA) BTI Outlook, 2021 will see a welcome 21% increase in business travel, with spending on business travel projected to rise to $842 billion (following the precipitous 52% drop off in 2020).
All the statistics add up to one undeniable truth for the travel industry: the worst of the pandemic is behind us. Everyone at The Guestbook looks forward to sunnier days ahead and to helping you leverage the power of Cash-Back Rewards to ensure that 2021 marks the beginning of new chapter in your success.
