US domestic summer travel trends up

Hotel bookings slow in markets such as Miami, Daytona Beach as international travel expands

May 22, 2023

Summer travel and demand for hotels as a whole in 2023 is trending up year over year, but destination markets such as Miami and Daytona Beach are proving less popular after a successful run of demand growth over the past few years.

Key takeaways

  • So far, hoteliers have been hesitant to drop rates, but now conversation starts about lowering rates to try to attract more occupancy;
  • Some hotels hope for international travel to pick up some of the drop in domestic demand so they can hold onto their rates;
  • Most experts project a recession in the U.S. economy is likely to occur in the second half of 2023 as interest rates continue to rise along with inflation.

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