Key Travel Indicators
Industry Barometer
Merry Christmas and Happy Holidays!
As the year winds down, all indicators point to a strong finish for 2018. The economy is strong, gas prices are down, hotel and airport performances are positive. In fact, the indicators we report this month are some of the strongest we’ve seen in a few months.
Make sure you take a moment to get out and enjoy the festive season in Indiana!
Safe travels!
Dr. Jonathon Day
Purdue Hospitality and Tourism Research Center
Industry Sentiment As of Spring 2018 (March-May)
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Right Now
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Next Quarter
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Upcoming 12 Months
Economic Indicators
INDIANA LEADING
ECONOMIC INDICATORS
September 2018
0.50
GAS PRICES
(Avg. price per gallon)
November 2017 $2.60
November 2018 $2.52
Industry Sectors
HOTELS
Occupancy Rate
October 2017: 66.6%
October 2018: 67.3%
Revenue per Available Room (RevPAR)
October 2017: $70.45
October 2018: $72.10
AIR TRAFFIC
Domestic Passengers
September 2017: 662,062
September 2018: 706,086
International Passengers
September 2017: 5,488
September 2018: 13,054
Market Intelligence and Insights
A selection of recent marketing intelligence from around the industry…
The US travel market has recorded 105 months of growth. The US Travel Leading Travel Index (LTI) continues to predict growth in domestic leisure travel in the US through the first months of 2019. Detail for the July report can be found here.
New research from Expedia Media Group provides new insights on Gen Z travelers. Key takeout sof the report include Gen Zs prioritize experiences ahead of price, but budget is still important, Gen Zs like activity-based travel, and this generation can be influenced by social media. For more details, click here
Thanksgiving travel set records for both air and drive travel.
JOMO (Joy of Missing Out) is a megatrend identified in the Euromonitor International Travel Trend Report. For more details – click here
The travel predictions season is starting. One of the first across my desk is from Booking.com who have identified trends including “conscious travel”, the rise of the experience curator and growth in weekend trips. For more details, click here