Posted on 04/01/2022 7:17:56 PM PDT by simpson96
(Bloomberg) -- American travelers are raring to go, and rising hotel prices aren’t stopping them.
For evidence, see what Miami hotels are demanding on the weekend in early May when the Formula 1 racing series comes to town: The 1 South Beach is requiring four-night minimums at just under $4,000 a night, while the Hampton Inn in the city’s Brickell neighborhood is charging more than $400 a night.
Vacationers, flush with cash and eager to hit the road after two years of pandemic living, are paying up at resorts, roadside hotels and even urban properties – at least in cities with tourism appeal. Those free-spending consumers are filling hotels on weekends, making up for the lack corporate travelers, who typically book rooms during the workweek.
“The pandemic has reminded people that life is short,” said Jan Freitag, senior vice president at lodging analytics company STR. “They want to splurge, and they have a lot of pent-up savings. If a market has a leisure appeal, then the hotels in that market are doing well.”
(snip)
Jordan Weede, a 30-year-old from Atlanta, recently booked three nights at a hotel in New Orleans for $2,000. The University of North Carolina basketball fan surprised his dad with tickets to the Final Four on Saturday, when the Tar Heels will take on rival Duke.
The semifinals of the college basketball tournament will be played in a packed arena for the first time since 2019, and fans embracing the moment have been paying up to be there.
“I didn’t spare any expense,” Weede said. “I’d rather spend the money on experiences.”
(Excerpt) Read more at msn.com ...
About the same per night as the new Star Wars hotel at Disney.
I’d rather stay in my travel trailer. I know that there’s no kooties.
“Vacationers, flush with cash…”
…advances? I thought everyone was poor now.
I could not wait to get home today after going to town for the first time in weeks.
Home is the best place of all. If I want to go somewhere I take a trip to the back corner of the farm out in the woods. I don’t get out that way much.
I agree with you, 100%
if i cant find a place for %45-$50 a night, i aint staying-
I have to say I’m part of this crowd/phenomenon. I went on 5 big trips in 2019 (two international). Then nothing. In 2022? Five big trips planned; again two international. I’m snagging good Airbnb’s before they are gone…
$50 a night tops for me.
Two older friends in our coffee group left us last year. Both of them skinflints, never traveled, pinched every penny and complained if a coke and hamburger cost more than $10.
They literally saved their money to death. Their heirs are now proceeding to put it into circulation.
Yes. I’m Gen X and have advised my older boomer parents to spend everything and leave nothing to me (other than some real estate maybe). And I plan the same and to leave nothing to my Gen Z kids (other than maybe some real estate). Helping pay for college and doing lots of babysitting/elder care is more than enough.
Sorry for your losses—they sound like good people. Just didn’t consider how few summers we all have left…
As I write this, Mrs. abb & I are just about to leave the boat docked in Rotterdam, Netherlands to tour the flower gardens. Glorious sunrise this morning over the River Maas.
We began yesterday an 8 day river cruise throughout the Flanders region.
Have fun our your trips, and take LOTS of pics!!
People are spending any remaining money fast because they know it will be worth much less a month or a year from now.
Fly first class or your children will.
You can settle for Business class though.
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