Mastercard Economics Institute Reports Consumers Continue to Prioritize Travel

Amidst an ever-changing and unprecedented global economy, the choices consumers make in what, where and when they spend today may help reveal where we are headed next. The Mastercard Economics Institute’s “Shifting Wallets” report looks at how consumers across the world are holding tight to habits that offer convenience, experience or both.

Global consumer flight bookings this summer (May-August) were 15% above 2019 levels, despite heightened logistical challenges and price pressures. 2 Short haul flights fuel most of the travel growth globally (+20% compared to long) 3 except in European countries where travelers have good alternatives to flying for shorter trips.

STR: U.S. hotel results for week ending 24 September

U.S. hotel performance increased from the previous week and showed improved comparisons with 2019, according to STR‘s latest data through 24 September.

• Among the Top 25 Markets, Orlando reported the highest occupancy increase over 2019 (+7.9% to 72.2%).
• Of note, New York City saw the highest absolute occupancy level (89.9%), which was helped by the High-Level Week of the United Nations General Assembly.
• Anaheim reported the largest ADR gain over 2019 (+31.7% to US$214.61).
• The steepest RevPAR declines were in New Orleans (-16.7% to US$86.68) and Minneapolis (-16.1% to US$90.11).

18-24 September 2022 (percentage change from comparable week in 2019):

• Occupancy: 70.0% (-1.5%)
• Average daily rate (ADR): US$157.99 (+15.7%)
• Revenue per available room (RevPAR): US$110.60 (+13.9%)