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Affluent Consumers Prefer to Book Vacation Travel Online
| Atlanta,
GA - April 30, 2013 - Hotel nights for vacation travel during
the prior
12 months were booked by 74% of the respondents in a recent survey by
The
American Affluence Research Center of the wealthiest 10% of U.S.
households, based
on net worth, which has been demonstrated to be a more stable indicator
of
wealth than income. Representing a population of 11.4 million affluent households, that account for about half of all consumer spending, the survey shows an estimated 8.4 million households booked hotel nights online for a vacation during the past 12 months. This was essentially the same as the number of affluent consumers (76%) who reported booking vacation air travel online. Among those who booked hotel nights for vacation travel, 89% reported doing online research before booking their hotel. Online was also the most frequently mentioned method for booking their vacation hotel among 80% of the affluent consumers. About 14% booked by phone and 5% of the affluent consumers booked via a mobile device. The remainder, only 1% of the affluent vacationers, booked in a travel store. Online booking of their vacation hotel was about the same among all age, gender, and income groups. However, only 64% of the wealthiest one percentile booked online. Booking by phone was highest among the age 60+ (18%), women (18%), income of $200K+ (17%), and the top five percentile of net worth (17%) groups among affluent consumers. Reservations by mobile device were reported by 12% of the under 50 age group. The American Affluence Research Center has been conducting its twice yearly affluent market tracking studies since 2002. The new survey data is presented in the report titled Affluent Market Tracking Study #23, which has just been published. The survey also found that most affluent consumers expect to increase or maintain their spending for domestic and international vacations during the next 12 months. This is good news for the hotels targeting the affluent leisure traveler. The new survey by the American Affluence Research Center is based on 463 male and female survey participants who have an average annual household income of $309,000, an average primary residence value of $1.2 million, an average net worth of $3.1 million, and average investable assets of $1.8 million. Detailed highlights of the survey of affluent consumers can be viewed here. About Us: Established in 2001 and with an exclusive focus on the affluent market, The American Affluence Research Center conducts the original and only continuous twice-yearly tracking studies of the mood and future spending plans of the wealthiest 10% of U.S. households based on net worth. AARC has become a recognized authority and a credible source of reliable insight and marketing information about the values, lifestyles, attitudes, and purchasing behavior of Ameria's most affluent consumers. |
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