Prepare to Spend More for Your Summer Vacation

If you’re planning a summer getaway or vacation, then you should expect an increase in domestic airfares and hotel rates this year.  So, plan ahead! Budget domestic airfares are up 34% for this summer compared with the summer of 2019 percent this summer, according to price-predicting and booking app Hopper.

“Americans who haven’t booked travel since summer 2019 are in for a shock this summer, with domestic airfare for summer travel averaging $383 roundtrip,” wrote Hopper economist Hayley Berg in a report released on Tuesday, May 3. 

Berg also predicts that budget fares are expected to continue rising seasonally through June, topping out at between $410 and $420 per ticket. 

Unfortunately, the increase in fuel prices, strong travel demand, and reduced airline capacity relative to 2019 are all factors in these high prices. According to Hopper’s report, airlines are scheduled to fly approximately 2.4 million travelers per day this summer, compared to an average of 2.9 million passengers per day over the summer months in 2019. 

And what about those hotel rates? Hotel prices are up 36% compared with 2019. Rooms are averaging $154 per night. Car rentals for the summer are costing an average of $60 per day, which is similar to last year when diminished rental car inventories drove a price surge. 

Source: Hopper