📈Travel enthusiasts, let’s take a fascinating trip through time and see how hotel costs and income have changed over the years.
In 1980, the average cost of a hotel room in the U.S. was about $40 per night. Fast forward to 2020, and that cost has shot up to an average of $140 per night. That’s a staggering 250% increase over 40 years!
Meanwhile, in 1980, the median annual income in the U.S. was around $45,000. If this income increased at the same average rate of 6.25% per year to keep pace with rising hotel costs, by 2020, it would need to be roughly $346,000!
To break it down by decade:
📌1980 to 1990: Room cost increased from $40 to $65, a 62.5% increase.
📌1990 to 2000: Room cost increased from $65 to $85, a 30.7% increase.
📌2000 to 2010: Room cost increased from $85 to $100, a 17.6% increase.
📌2010 to 2020: Room cost increased from $100 to $140, a 40% increase.
Your annual income would need to follow a similar upward trend to continue enjoying the same quality of hotel accommodation. However, there are ways to navigate these cost increases. Vacation ownership programs allow you to secure your vacation experiences at today’s prices, insulating you from future rises.
By locking in your vacation costs now, you can ensure a future of quality holidays without needing to keep up with these drastic income increases.
Join a Travel club or Vacation Club Today!
#TravelTrends #VacationOwnership #HospitalityIndustry #TravelCosts #IncomeGrowth #travelclub #timeshare #vacation #travelexperiences #travel #hotelindustry
