Hotels, airlines and homesharing platforms need strategies to satisfy the travel needs of four generations of jetsetters, who each have different booking and payment preferences. Some millennials, in one case, would abandon travel booking processes if their preferred payment method was not offered. The travel and hospitality industries, however, are changing to accommodate more complex payment technologies. All this, Today in Data.
$762B: Amount that domestic and international leisure travelers spent in 2018.
59%: Share of U.S. millennials who pay for hotels with debit cards or cash.
50%: Projected share of millennial spend in the personal luxury market by 2025.
20%: Portion of all global travelers comprised of millennials.
$1.4T: Collective amount millennials are set to spend on travel annually.