Throughout the last two years with the economy struggling some trends regarding travel have emerged.
1) Staying in Vacation Rentals- More and more people are staying in vacation rentals. This trend has increased almost 20% over the course of the last two years. Also due to the real estate market struggling renters are able to get better rates.
2) Group Travel- By staying in vacation rentals, it allows multiple families to travel together and stay in the same accommodation. This cuts back on having to reserve multiple hotel rooms.
3) “Closer to Home Vacations”- In 2008 a lot of people stayed close to home for vacations. This cut back on airline costs, rental car costs, and also it allowed for a shorter vacation. In 2009 we have started to see this trend diminish. Due to what happened in 2008, airlines are offering great rates to get people traveling again.
In the real estate market, we have obviously seen a drop in sales. One thing that has increased is interest in timeshares along with multiple ownership properties. The trend regarding timeshares could be due to the economy and vacationers getting something for free if they attend. That is not certain though.