Travel Advertisers Heat Up Summer Spending
Travel has been heating up over the past few months, but travelers aren’t the only ones excited about that. Advertisers in the travel industry are excited too, looking forward to making up for some of the $2 trillion in lost revenue last year.
Travel advertisers spent nearly $623 million from January through April this year, a 43% increase from this time in 2021. Roughly half of that can be attributed specifically to the Lodging category, and primarily from six key companies—Airbnb, Expedia (VRBO), Hard Rock Entertainment, Hilton, Marriott, and Sandals Resorts. Airlines and rental car companies were more hesitant, as there has been a lot of uncertainty surrounding the industries such as labor and supply shortages and high costs of fuel.
As advertisers heat up their ad spend this summer, there are a few trends from earlier this year that we can expect to continue. Traditional advertising spending has only accounted for 65% of total spend so far this year, a drop from 80% in 2020. This decrease is likely an indication of the success advertisers experienced in other forms of advertising during the pandemic, such as online videos and social media displays.
Is it time to revamp or evaluate your marketing and media? H2R can reveal these answers and more. Contact us today about an Advertising Effectiveness Study to ensure your ads cut through the clutter and inspire incremental visitation or purchases.
Want market insights in your inbox?
Sign up below to receive H2R's free monthly e-mails summarizing the latest trends.
We respect your privacy.