Inflation is causing price hikes across the board and it’s putting a pinch in people’s pocketbooks this year.
Many folks are rethinking there summer vacation plans.
Although people are ready to book a trip, Airbnb’s Sam Randall says they may be hopping in a car domestically rather than purchasing airfare to a far off destination.
“Half of the nights booked for this summer are for domestic stays. But again what we’re seeing is that people do want to travel this year and they will be doing it this summer,” said Randall.
Another trend they are seeing is longer term stays; 28-days or more over the last two years.
“Long term stays continue to be very popular on our site. They represent 1 in 5 nights booked on Airbnb and that’s a trend that’s continued over the pandemic. I think there’s been a pent up demand for travel.”
A new survey says nearly 40 percent of Wisconsin hosts are using their income to cover the rising cost of living.
Click on the audio player above to hear the full interview.