A new report on the future of US millennial travel has revealed that millennials still prefer going down the traditional route of booking hotels rather than Airbnbs. The report from Resonance Consultancy, leading advisors in real estate and tourism, surveyed more than 1500 travellers on their travel preferences from hotels to timeshares to apartments and luxury resorts.
Despite Airbnb’s marketing strategy towards millennials the report found that although 52% of respondents said that they regularly or occasionally use services like AirBnb, this isn’t their preferred accommodation type. Airbnb’s home-sharing service has expanded in 65,000 cities but just 23% of millennials said that a short-term apartment or condo rental was preferential.
“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.
At the top of the list in terms of preference were hotels, resorts and staying with friends and family as well as luxury hotels.
The report notes that “the most-preferred accommodation type cited is a full-service hotel or resort. As in: a business with many rooms, a lobby and someone to speak with in person immediately if there’s a bachelor party next door or your key doesn’t work”. It points out that “the proximity of personal staff assistance at any time” is advantageous to hoteliers. “A hotel’s ability to reflect and channel its surroundings, then, matters more than ever”.
Millennials who are dubbed in the report as the “fastest growing tourism demographic” are classified here as U.S. residents between the ages of 20 and 36 who’ve taken an overnight holiday at least 75 miles from home in the past 12 months. According to the report, millennials are expected to spend US $200 billion on travel in 2018 alone.