(NewsNation) — Summer travel is upon us, and according to AAA, about 4% more Americans are expected to travel this Fourth of July compared to last.
Yet, NewsNation’s Markie Martin reports that some of us are being much more cautious with our vacation dollars.
Martin spoke with Donna Yost who says she isn’t making any money on her Tennessee cabins, likely because of gas prices.
“People are concerned, they’re unsure. So it appears they’re not traveling, or they’re price shopping,” Yost said.
Usually her cabin named Bear Elegance is rented for the entire month of August, and now it’s being offered for at a discounted rate.
”We have a rental company, and they cut it as much as 25% to 40% on anything remaining, that wasn’t booked,” Yost added.
Vancouver, Canada-based travel agent Randi Winter said that while budget-family vacations are doing some belt-tightening, the luxury market has not softened.
”Some people call it revenge travel, which is making up for all the travel that you haven’t been able to have,” Winter said.
“The reality is that a hotel that was $150 could easily be $400 right now, or $500. And that’s very scary, what the “Y” is over $200 in a city,” Winter said.