There’s good news and there’s bad news for American vacation rental owners in 2015. Predictions are for less vacations but more spending.
It’s a bit like the old joke where a hospital patient is given the good news/bad news choice. ‘The bad news’, he is told, ‘is we have to amputate your leg. The good news? The guy in the next bed wants to buy your sneakers.’
Here’s the good news
So, let’s start with the good news. According to industry commentators Skift, ‘US travelers say they’ll spend more on vacations this year’. The bad news is that they’ll be taking less vacations.
These findings from travel marketing specialists MMGY Global have implications for the whole travel and hospitality industry as they cover Americans vacationing in their home country and abroad.
However, results will impact particularly on American vacation rental owners and on owners of US rentals who live abroad. A significant number of owners then, so well worth our consideration.
Travelers plan to spend more
In the survey, around 27% of respondents said they plan to spend more on their vacations during the next six months over the same period last year. This represents a 23% increase. It’s thought that the strengthening dollar and low gas prices have caused this optimism among travelers.
On the downside, the survey indicates that only 66% of Americans plan to take at least one leisure trip during the next six months – down from 69% last year. Skift’s own research adds weight to this good news/bad news scenario and led them to claim that ‘The majority of Americans will take little or no vacation this summer’.
No vacation for some this summer
When asked ‘Are you planning on taking a vacation this summer?’ 62% said they will not be taking a vacation this summer at all.
‘The great American summer vacation is on its way out, and the country’s huge vacation deficit keeps on going’ say Skift. Figures from the US Travel Association show that each year, Americans fail to use 429 million vacation days.
Half can’t afford a vacation
Out of those that responded to Skift’s survey, over half said they couldn’t afford a vacation. Only 16% said they are taking the long summer vacation, while about 23 percent said they plan on taking short breaks on weekends through this summer.
Among the reasons cited for the drop-off in vacations is pressure from the economy – people do not like to be seen taking time away from their jobs. So it’s interesting to note that both surveys found that US North-easterners are the least likely to take summer vacations. Those in the US West are most likely to go on vacation.
So, what can American owners expect this summer and for the rest of 2015? On the strength of these findings, they might have fewer guests – though not a massive reduction. Meanwhile, there could be more demand for shorter breaks and guests could be spending more.
But it all confirms a depressing American trend towards less vacations for hardworking Americans.