Travel demand remains resilient across income brackets despite elevated prices: Labor Day bookings are up 17%, average hotel rates are over $500 and average airfares are over $1,000, near double-digit increases year over year. Airfares are up over 20% and are expected to stay high even if fuel prices fall, helping airlines such as United recoup fuel costs and supporting airline and hotel pricing.
Travel demand remains resilient across income brackets despite elevated prices: Labor Day bookings are up 17%, average hotel rates are over $500 and average airfares are over $1,000, near double-digit increases year over year. Airfares are up over 20% and are expected to stay high even if fuel prices fall, helping airlines such as United recoup fuel costs and supporting airline and hotel pricing.