Industry NewsU.S. Millennial Travelers Prefer Hotels Over Homesharing

U.S. Millennial Travelers Prefer Hotels Over Homesharing

NEW YORK—According to a new report on the future of U.S. Millennial travel, U.S. travelers between the ages 20 and 36 prefer full-service hotels to a homesharing or owner-direct rental service like AirBnb. Resonance Consultancy—a real estate, tourism, and economic development advisor for countries, cities, and communities—released these insights in its 2018 Future of Millennial Travel Report—a survey of America’s fastest growing tourism demographic.

The report surveyed more than 1,500 active U.S. Millennial travelers and found that despite 52 percent of respondents saying they regularly or occasionally use owner-direct rental services, it is actually among their least preferred accommodation choices. Only 23 percent said that a short-term apartment and/or condo rental was their preferred type of accommodation.

“Findings in the 2018 Future of Millennial Travel Report are contrary to the prevailing belief that hotels are in trouble with younger travelers who prefer homesharing,” says Chris Fair, president of Resonance Consultancy.

Millennial traveler respondents cited full-service hotels as their first choice, staying with friends or family as second, followed by all-inclusive resorts. Roughly a third of Millennial travelers prefer upscale hotels, luxury hotels, or resorts (35 percent), followed by camping (33 percent).

“U.S. Millennials will spend $200 billion in 2018 alone,” adds Fair. “A lot of that will be on travel and tourism.”