The shift overseas is driving up international airfares and room rates, while domestic growth lags.
Women pose for a photo while holding an ice cream at Trevi fountain during hot weather as a heat wave hits Europe in Rome, Italy, July 19, 2022.and hotel chains in recent weeks have reported a surge in bookings for international trips — along with rising prices.
International airfare is averaging $962, up 10% from last year and 26% from 2019, according to fare-tracking company Hopper. Domestic airfare, meanwhile, is falling. Roundtrips within the U.S. are down 11% from last year and 12% from 2019 at an average price of $249. Nightly rates at luxury hotels in Paris, for example, rose more than 22% in the first half of the year from a year earlier, while luxury hotel rates in Orlando, Florida, rose just 0.2%, CoStar data show.on Tuesday said second-quarter revenue per available room rose 6% year over year in the U.S. and Canada. The growth in international markets was more than 39%.
"That's clear that when you look at the travel patterns this year that there is a big exodus of Americans going over to Europe and other places in the world," she said on the company's second-quarter earnings call on Tuesday.
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