NEW YORK—According to a new report on the future of U.S. millennial travelers, American travelers between 20 and 36 years of age prefer full-service hotels to an Airbnb rental, even as the home-sharing service expands in 65,000 cities and in preparation for an imminent IPO.
Resonance Consultancy shared insights in the “2018 Future of Millennial Travel Report,” a 70-page trend briefing released this month. The report surveyed more than 1,500 active U.S. millennial travelers, finding that despite 52% of respondents saying they regularly or occasionally use owner-direct rental services like Airbnb, it’s actually among their least preferred accommodation choices. Only 23% said that a short-term apartment or condo rental was their preferred type of accommodation.
“Findings in the ‘2018 Future of Millennial Travel Report’ are contrary to the prevailing belief that hotels are in trouble with younger travelers who prefer home-sharing,” said Chris Fair, president of Resonance Consultancy.
Millennial travelers who responded to the survey cited full-service hotels as their first choice; staying with friends or family as second; followed by all-inclusive resorts. Roughly a third of millennial travelers prefer upscale or luxury hotels and resorts (35%), followed by camping (33%).
“U.S. millennials will spend $200 billion in 2018 alone,” added Fair. “A lot of that will be on travel and tourism.”