Summer 2024 'sold well' despite late booking trend and cost worries
Gary NoakesBookings for summer 2024 are coming late, with families keeping a keen eye on their budgets, a TTG Agenda 2024 panel has agreed.
Speaking at the TTG Agenda 2024 Summer Breakfast, easyJet holidays’ trading and development director Tony Hopkins, said: “We are seeing big demand growth, but it is being driven by people shopping around looking for the best value. We are definitely seeing later booking patterns. There is strong demand, but it is late.”
Tricia Handley-Hughes, InteleTravel UK and Ireland managing director, said: “I think we’ve peaked. For the first time this month, I’m seeing a softening in figures. People are holding back – I think July and August will see the lates.”
Vim Vithaldas, The Travel Network Group’s chief commercial officer, said 25% of bookings in May 2023 had come from families, but added: “We saw 16% this year. Where families are booking, it’s shorter durations – five days or less is 8% up, 10-day bookings are 6-7% down.”
Hopkins agreed: “It surprises me in the lates market, we’ve seen families coming through, whereas in the past it was couples and adults. Maybe it’s the weather, maybe families are booking that would have stayed in the UK.”
Research released to accompany the event revealed that while positive consumer sentiment was continuing to rebound, cost was becoming an increasingly critical factor for consumers.
Hopkins added: “This year in particular, people are looking for promotions but not necessarily cheap – more than 50% of our bookings are four- and five-star. They are not scrimping, but they want to know how much it’s going to cost.”
Vithaldas said the UK general election next month was not proving a major issue with Labour seemingly on course for victory. “The election I’m more concerned about is in the US,” he explained. “People hate uncertainty – that can impact price and impact destination.”
He added: “A bigger part for me this summer is the weather, that really drives people to the travel agent.”
Hopkins added easyJet holidays would hit its 35% growth target over 2023 and said Atol protection was more important for consumers post-Covid. “Those customers were previously booking components,” he said.
TTG and PwC’s full Agenda 2024 Summer Breakfast report is available to read now. Just make sure you’re signed up to ttgmedia.com and logged in.
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