Record Thanksgiving Air Travel Signals Continued Health of Leisure Demand

A record-breaking variety of vacationers flying after the 2023 Thanksgiving vacation is pointing at continued wholesome journey demand from leisure vacationers, in accordance with CoStar Group Nationwide Director for Hospitality Market Analytics Jan Freitag.

The U.S. Transportation Safety Administration screened greater than 2.9 million air passengers on the Sunday after Thanksgiving, breaking the document for probably the most vacationers in a single day.

“Clearly being along with family and friends was the most important impetus for boosted journey spend, and fortunately solely a really tiny fraction of flights have been canceled,” Freitag stated.

Now that the macroeconomic outlook has modified from an outright recession to a slowing in gross-domestic-product progress, Freitag expects continued demand will increase this winter and over the vacation season.

“CoStar/STR revised its 2023 income per out there room forecast upward, in response to the continued wholesome demand and fee atmosphere,” he added.

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