We’ve all heard that “travel is back” and individuals are taking trips in a different way than before. But what does that mean? Our team of experts follows all of the changes within the airline, hotel and cruise industries — plus the bank cards and loyalty programs tied to every — and compiled this first-of-its-kind report showing the evolution of travel today.
View the total 2023 TPG Travel Trends Report in PDF format here.
From pent-up demand to the brand new normal
Vacations are longer, and the road between business and leisure has blurred. Nevertheless, 2023 began with the retraction of many “work from anywhere” policies.
Fears over a recession are looming but don’t appear to be hindering trips … yet. While Americans might need finally gotten the pent-up urge to travel out of their systems, they proceed to take a position heavily in travel experiences.
Growth in each luxury and budget-minded experiences
The commitment to luxury stays strong, with hotels constructing more high-end properties and cruise lines launching expensive expedition ships to sail to Antarctica and the Arctic.
But that doesn’t mean budget-minded travel is being thrown overboard.
Outside of luxury, cruise lines are constructing larger ships that may shatter every record we all know. There will probably be something for everybody on these massive vessels — but pay careful attention to the tremendous print, because the variety of mandatory fees for these otherwise all-inclusive experiences is growing.
What hotel travelers want is evolving
Back on land, the once-niche area of all-inclusive resorts has gone mainstream, with major hotel chains getting in on the motion. Hilton, Hyatt and Marriott, which had just 30 such resorts 4 years ago, now have greater than 150 and are planning more.
Speaking of hotel firms, all the most important chains are investing in recent brands that travelers won’t be aware of. A decade ago, the most important five hotel chains offered a combined 49 brands; today, there are greater than 130. That growth is driven by developers’ thirst for lower construction and maintenance costs, travelers not searching for full-service restaurants and ballrooms, and the continued strength of loyalty programs.
Pricing trends
Unfortunately, in terms of prices, there may be little relief ahead. Hotel rooms and airfare are expected to stay high.
Flyers will find barely larger planes on most routes together with the retirement of the smallest regional jets. Nevertheless, that implies that many small towns and cities are losing flights. A number of startups are attempting to fill the gap but won’t close it.
Advance planning stays crucial
Finally, we would like to spotlight the planning needed for travel today. There’s a joy to spontaneous, last-minute trips that may hopefully never go away. But while the strict capability restrictions of the coronavirus pandemic could have waned, many key attractions that began requiring reservations throughout the pandemic liked the way it unfolded crowds and decided to maintain those policies.
Advance preparations also apply for getting IDs and enrolling in reduce-the-line government membership programs. We’re seeing monthslong waits to renew passports and secure Global Entry interviews. Moreover, as of May 2025, anybody who flies domestically might want to have a specially verified driver’s license called a Real ID that may only be obtained in person on the DMV.
Currently, only 53% of Americans have a Real ID. Two years may appear distant, but imagine going to the DMV when everybody tries to get recent licenses ahead of their summer vacation. It won’t be pretty.
We hope you enjoy this comprehensive take a look at the state of travel today. As you head out in 2023 to go to spots recent and old, we urge you to take a moment to find something unexpected. Discover that unknown local shop or quiet little park that hasn’t made the guidebooks. It would make your trip that way more rewarding.
View the total 2023 TPG Travel Trends Report in PDF format here.