U.S. summer leisure travel has oscillated in recent years from pandemic-era lows to revenge-travel highs. This year, summer travel is shaping up to be "right sized," according to the latest survey research from Deloitte.
In a podcast with CoStar News, Deloitte's Transportation, Hospitality & Services research lead Maggie Rauch said that despite economic pressures, Americans are still planning summer trips— but they look a little different this year.
"Reprioritization" is the word Rauch used to describe the idea that while Americans may not be in the intense revenge-travel mode of 2022 and beyond, many say travel is more important to them today than it was pre-pandemic.
"The share of wallet for travel just holds on," she said. "It has a place in a lot of Americans' priorities, and I think part of that is that it's not something you get to do as much as you want. No matter how much money we have, we only have so much time ... and that has helped keep it steady."
But uncertainties that left many Americans worried about money earlier in the year have played out in Deloitte's research, Rauch said. The survey incorporates data gathered from late March to mid-April — a time when U.S. plans for tariffs were on a roller coaster.
In that period, those Americans surveyed pulled back on what they told Deloitte they planned to spend on summer travel. But that's not a con, Rauch said. It's more of an opportunity.
"When people feel some financial pressure, it's not that they decide not to travel," she said. "They make decisions for maybe shorter trips in terms of distance or time, they might adjust the type of property where they stay."
That's how the "right-sized American summer" characterization came about.
The research shows that in general, Americans are planning to take more trips this summer, but they're planning to spend a little less. That means potentially more short getaways, Rauch said.
But the "marquee trip" — what Deloitte calls a big, bucket-list-type vacation — absolutely still is happening, and Americans say they're increasing the length of that trip, if they take one.
"People really are making a lot of different types of decisions" about travel, Rauch said.
Price is definitely a factor. More people this year told Deloitte that price was in their top two most-important criteria for taking a trip, and that goes for people from all income brackets.
And overall, trip length is inching down a bit, too, Rauch said.
But hotel stays? Those are on the rise. The survey asks people to share what type of lodging they'll stay in, whether that's with friends or family, in a hotel or other accommodation. The number of travelers saying they plan to stay in paid lodging is higher for this summer than last year, Rauch said.
Listen to the podcast embedded above for more from Rauch on generational traveler preferences, what Americans said about luxury travel and more.