Expedia and Egencia Study: Millennials Spend and Complain More
Monday October 14th, 2013 - 11:48AM W
| | | | | | | | | | |
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
BELLEVUE, WA—According to a study released by Expedia.com and Egencia, millennial travelers spend more money, complain more loudly and crave mobile devices more than their older counterparts.
Conducted by Harris Interactive between Aug. 20, and Sept. 12, the Future of Travel study looked at the habits of travelers in 24 countries, asking 8,535 employed adults about how they conduct business and leisure travel.
According to the study, millennials are far likelier to embrace loyalty programs while en route; half of millennials find loyalty programs important when booking flights (48%) or hotels (51%), versus only three in ten of travelers aged 46-65 (31% and 30%, respectively).
For booking business travel, 32% of those under 30 report using a smartphone and 20% report booking on a tablet. That's compared to just 12% for smartphone and 9% for tablet for those over 45.
In addition, younger travelers were freer with their company’s money when traveling. Globally, business travelers aged 18-30 more frequently report that they will spend more of their company's money on high-end meals (42%) than they would their own money compared to those aged 46-65 (26%). In addition, 37% of millennials would spend more of their company's money on room service, versus only 21% of those aged 46-65.
Millennials also travel more on business, reporting traveling 4.7 times per year on business, versus 3.6 times per year among those aged 31-45, and 4.2 times per year for those aged 46-65. Millennials take more leisure trips as well, at 4.2 trips a year.
The study also found that millennials are more comfortable mixing business with pleasure. 62% have extended a business trip into a personal vacation, vs. 51% of those aged 31-45 and 37% of 46-65 year olds.
Millennial business travelers are likeliest to post a negative review online as it relates to their experience with hotels, restaurants, flights, public transportation, taxis and rental cars. Negative reviewers are still relatively rare, however: 67% of travelers worldwide have never done so. Reviews themselves are considered highly important for both business and leisure travel, particularly among millennials.
The study also found that hotel location is the most important feature when booking travel for 53% of respondents, followed by price, travel time and airfare price. For leisure travelers, hotel room price was among the top three most important features (63%). Hotel location and airfare price were tied at 50%.
Tags: Expedia • Egencia • millennials • Harris Interactive • Hospitality •
As we begin 2015, and what is expected to be a healthy year for the hotel industry with expansion, progress and innovation as key catalysts for growth, Hotel Business is right on board with that momentum, bringing you, with this issue, our own updated product.