Economy could trim vacation plans

Marketplace Staff Apr 16, 2008


Renita Jablonski: Summer vacation season is just around the corner. I can smell it. But this year may be a little different. With rising airfare, the economic downturn and gas prices, there are days when staying home and watching the Travel Channel may be more appealing than planning a trip. Here’s more from Stacey Vanek Smith.

Stacey Vanek Smith: The travel industry is pulling out all the stops to warm up American wallets this summer.

Circus Circus announcer: Thank you for calling Circus Circus Las Vegas.

Circus Circus Casino is offering $50 gas cards to guests who book a three-night stay. In North Carolina, The C.W. Worth House in Wilmington will reimburse fuel receipts. And in Connecticut, you can get 10 percent off of your room if you take the train to the Wallingford Victorian Bed and Breakfast. These perks are a good investment, says Peter Yesawich, CEO of Y partnership, a travel services marketing firm. He says Americans will travel this summer. They’ll just probably trade a week in Paris for a week in Palm Springs.

Yesawich: People will continue to travel at roughly the same rate. It’s just that they’ll be seeking far better values and be more aggressive shoppers than we’ve seen before.

Yesawich says nearly 30 percent of travelers have canceled a trip in the last six months because of financial concerns. As for gas prices? he predicts roadtrippers will just stick a little closer to home.

I’m Stacey Vanek Smith for Marketplace.

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