Travel
Lower-income Americans are dialing back on travel
STORY: :: Lower-income Americans are dialing back on travel
:: As wealthier Americans continue to travel,
lower-income travelers are booking fewer hotel stays
:: Reduced savings, higher credit card delinquencies
and inflation are weighing on household budgets
:: according to data from commercial
real estate analytics firm CoStar
:: Source: CoStar
:: U.S. room demand in April fell about 2.7% and
3.9% for mid-scale and economy hotels, respectively
:: CoStar downgraded its full year forecast
to account for slowing GDP and reduced demand
:: It’s now expecting average daily room rates will rise
2.1% this year compared to its previous forecast of 3.1%
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