Source: LODGING
June 1, 2020
RESTON, Va. — New data from consumer intelligence firm Resonate suggests that despite the fact that consumers remain more concerned about the economic impact of COVID-19 than health risks, an overwhelming number are indicating that nothing shy of the availability of a vaccine will prompt their return to travel, hotels, churches, concerts, sporting events, rideshares, and other previous staples of daily life.
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More than half (61 percent) now think the economy will return to normal sometime in 2021, versus 55.2 percent who thought similarly back in March. The economic impact remains an enormous concern, with 71 percent remaining worried about their finances to a large extent.
A quarter of consumers still don’t plan to dine in at restaurants until 2021 or later. However, between April and May, 5.6 percent more people now believe they could be dining in restaurants by August 2020.
Nearly half (48 percent) of consumers don’t expect their leisure travel to return to normal until 2021 or later. However, 52.3 percent report that they will feel safe traveling within their state when restrictions are removed, compared to 36.7 percent for another state and only 10.8 percent who would feel safe traveling internationally. Meanwhile, 31.3 percent would feel safe staying in a large hotel chain compared to 21.8 percent who would feel safe renting a room or home, and more people would feel comfortable taking a flight or a train than mass transit.
