Traveling is a very important part of our life, it gives us the opportunity to escape from reality and it is a great way to relieve stress. It also helps boost our happiness, it is a very healthy activity that can help increase self-esteem and overall well-being. It is important to make sure you are booking your trips wisely, a little planning can save you big in the long run!
Hotels are the most popular form of accommodation for travelers, but interest in alternative forms of lodging has risen this summer as guests seek meaningful experiences. A recent study found that foreign experiences have positive psychological impacts on people, fostering cognitive flexibility and depth of thought.
In the mid- to late 2010s, a new lodging option emerged that challenged the industry, Airbnb, which allows individual property owners to offer unique and personalized accommodations in homes, treehouses, and even yachts. While some thought this trend would be a threat to the hotel industry, it has proven to be a successful business model and continues to grow and thrive.
As the industry recovers, AHLA supports policies that promote travel to and within the U.S. and that help jumpstart the regrowth of our economy. Whether it’s encouraging travel to domestic and international destinations, supporting payroll tax credits that encourage business travel, or providing funds for domestic travel and tourism, these initiatives will help to create jobs in the sector. Additionally, a stronger dollar could provide a headwind to domestic hotel performance in the near term as consumers choose to take advantage of favorable exchange rates when traveling abroad.