Americans Plan to Increase Hotel Stays Despite Inflation Concerns

A recent survey conducted by Morning Consult on behalf of the American Hotel & Lodging Association reveals that 72% of Americans intend to either maintain or increase their number of hotel stays in 2024 compared to the previous year.

The survey, which polled over 2,200 U.S. adults in early January, also found that more than half (53%) plan to travel overnight for leisure, with 32% traveling for business within the next four months. Despite the availability of alternative accommodations, hotels remain the top choice, with 71% of business travelers and 50% of leisure travelers indicating a preference for hotels.

However, inflation is casting a shadow over the hotel industry, with over half of the survey respondents indicating that it makes them less likely to stay in a hotel. According to AHLA President and CEO Chip Rogers, while the survey results show “tremendous potential,” 2024 will “not be without challenges.”

The impact of inflation on hotel stays and overnight travel is significant, although slightly less than on flying or renting a car. Fifty-three percent of respondents said inflation makes them less likely to travel overnight, while 48% and 44% said they are less likely to travel by airplane or rent a car, respectively.

Despite these challenges, hoteliers remain optimistic about the year ahead. Rogers stated, “hoteliers are optimistic about the year ahead and excited [to] continue providing excellent services for guests throughout 2024.”

The survey also highlighted the types of travelers most likely to prioritize hotels over other lodging options. Thirty-nine percent of respondents traveling overnight for a family trip, 60% traveling for a romantic getaway, and 45% traveling for spring break in the next four months expressed a preference for hotels.

Additionally, the survey revealed that high-speed Wi-Fi is the top technological amenity considered by respondents when booking hotels, followed by keyless entry or mobile check-in. Despite efforts by hotel companies to make it more available, only 4% of respondents prioritize access to electric vehicle charging stations.

Looking ahead, a Deloitte survey suggests that travelers are more likely to prioritize experiences over hotel class, while CBRE predicts that group travelers and international visitors will play a key role in bolstering the U.S. hotel industry in 2024.