Chase Travel Says Demand is Resilient Despite Price Hikes
Dow Jones
Aug 28
1242 ET - Travelers aren't being deterred by rising travel prices, Chase Travel Chief Executive Jason Wynn says on CNBC. Labor day bookings are up 17%, despite average hotel and airfares both rising by double-digit percentages compared to last year, Wynn says. Average hotel rates are now more than $500 and average flights are more than $1,000, he says. People across income brackets are still traveling, but many are altering their behaviors to make vacations fit into their budget, Wynn says. One thing all the income brackets have in common: "Everyone's looking for value," he says.
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