Here’s how consumers are spending on travel now: Priceline CEO

As Labor Day weekend lies right around the corner, Priceline CEO Brett Keller joins Asking for a Trend to break down consumer travel trends and what to expect if you’re planning a holiday weekend getaway.

“First and foremost, the shopping behavior is still quite active. So a lot of people are coming into our site. They’re looking for great deals. They’re looking for value, and we’re trying to stack up as many products and prices in front of them as we can that will make a difference and help them get out to travel,” Keller explains. However, in the US, Priceline has seen weakness in leisure, whereas business and other areas are still performing well.

As consumers increasingly seek value, Keller points to cruises as a great option: “You can cruise for less than $100 a night and go to some pretty incredible destinations.” He also highlights Priceline’s packaging business, delivering value up to 30% off when customers bundle things together. All-inclusive vacations are a great example, as it caters to a “set budget and you know what you’re getting for your money.”

Keller notes that flight prices have this year have been down from 10% to 15% this year compared to 2023. However, he expects prices both ahead of and past Labor Day to stabilize or even rise as airlines pull back on inventory and reduce capacity. When it comes to hotels, prices have remained largely unchanged from 2023, and he expects that trend to continue through Labor Day.

For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend.

This post was written by Melanie Riehl