Industry NewsAdobe: Online Hotel Bookings Are Growing Faster Than Expected

Adobe: Online Hotel Bookings Are Growing Faster Than Expected

Adobe has released new travel data from Adobe Analytics Cloud, based on more than 16 billion visits to major travel, airline, hotel, car rental, and cruise sites. Among other findings, the report shows that growth for online hotel bookings is at 10.9 percent, up from the 7.8 percent predicted, even though flights are at 2.8 percent, under the forecasted 3.5 percent.

Overall, online travel spending is higher than anticipated. Through Adobe’s annual U.S. Travel Report released last month, the company predicted growth at 5.1 percent for overall summer travel spend—66 percent lower than last year. Yet as of June 13, growth is at 7 percent.

Other trends include 5.5 percent lower flight prices on Wednesdays during the summer, while flights on Fridays, Sundays, and Mondays are 6.5 percent more expensive. In fact, airfare and hotel prices for summer travel in general are up across the board—domestic flights are up 6.3 percent in May and hotels are up 3.1 percent. International flights rose only slightly, at 0.4 percent.

In terms of where consumers are traveling this summer, the most popular U.S. destination for the July 4th holiday weekend is Chicago, followed by New York, Orlando, Las Vegas, and Los Angeles, respectively.