CLEVELAND — Summer is coming to an end, and many are now thinking about how they plan to spend their winter. If travel is on your mind this holiday season, you’re not alone.
Reports have shown higher numbers of people passing through TSA checkpoints all summer, and that trend isn’t slowing down with cooler temperatures.
Transportation and travel experts say this might be the perfect time to plan your next trip.
Some travelers are already taking advantage of lower airfares. Lucinda Cave is heading to Prague and Budapest for a 10-day trip she describes as the “trip of a lifetime.”
“Yes! Bucket list trip,” Cave said, sharing her excitement.
She’s been planning this trip for three years and has been closely monitoring ticket prices, noting how they have changed over time.
“I think actually since COVID they’ve gone up. And they’ve been high,” Cave said.
But recent reports suggest that now might be a great time to look for lower fares.
“Airfares are looking much better than this time last year,” said Haley Berg, lead economist at Hopper. “Right now, domestic airfare is averaging around $240, down 8% from this time last year.”
The drop in prices can be attributed to several factors. Airlines have added more seats than are needed in the industry, contributing to the decline in fares.
“In addition to that, extreme competition between mainstream carriers and lower-cost carriers is offering lower prices,” said Berg adds.
For some travelers, like Deborah Turner, these price drops mean more opportunities to travel.
“Well, I have Southwest. I have the points. I’ve had the points. They come up with these lower fares. It just works. It cost me $5.60 to go to Baltimore today,” Turner said.
Experts recommend using price monitoring tools like Hopper or Google Flights to track fare changes and find the best deals.
Prices should remain pretty similar throughout the holiday season.
“We expect the averages to peak around $300 for November and December,” Berg says.
Current prices remain high, so it may be best to wait until you buy your holiday tickets. By the end of September, those dates around Christmas and Thanksgiving may drop well below 2019 and 2020 levels.
While airfare is dropping, hotel rates have remained steady following the pandemic. Currently, hotels in the U.S. are averaging around $161 per night, slightly up from last year. For comparison, at the end of summer 2019, before the pandemic, the average was around $131 per night.
If you're flexible, experts suggest waiting until the last minute to book hotel stays.
“If you’re flexible, wait until the very last minute. Prices typically drop about 24 to 48 hours before check-in in those bigger cities where there’s more competition for those last-minute bookings,” Berg explained.
