Millennials are spending a lot more on travel these days, and chains like the new Home2 Suites by Hilton are positioned to take full advantage of the trend. See the excerpts below from a recent article in Travel Weekly, a travel industry resource. (Comments below, and graphic above, excerpted from a Travel Weekly article by Jeri Clausing, August 17, 2015.)
Steve Cohen, vice president of insights for MMGY, said the marketing firm’s 2105 Portrait of American Travelers found that millennials and Gen-Xers reported they planned to spend 10% more on travel this year, compared with boomers and matures, who planned to spend 1% more.
“Millennials continue to lead the resurgence in travel,” Cohen said. “They’re the ones who would rather spend their money on experiences than stuff.”
They are also the ones who most often said luxury travel is a deserved reward for hard work, he said. Forty-nine percent of millennials said that, compared with 39% of Gen-Xers, 38% of baby boomers and 35% of matures.