Travel Is Rebounding and Getting More Expensive

As travel begins to rebound, the prices of plane tickets, hotel rates and gasoline are on the rise.

According to CNBC.com, domestic fares in the United States were up nine percent since April 1 and international tickets are up 17 percent, due in part to a rise in bookings and airlines not flying as much as they did before the COVID-19 pandemic began.

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A Southwest Airlines spokesperson told CNBC that leisure fares are approaching 2019 levels, which comes as the Transportation Security Administration (TSA) reported processing 1,863,597 passengers through its checkpoints on Sunday, May 23, the largest number of people screened in the pandemic era.

With many coronavirus-related restrictions being lifted or eased across the U.S. and at popular tourist attractions such as Disney World and Disneyland, demand is rebounding and prices are on the rise.

As for hotel fares, prices have already surpassed 2019 levels in some areas as demand is outpacing supply. In Cancun, hotel rates were about $205 a night in early May, which was a massive jump from the $45 prices a year ago or $160 in 2019.

In the U.S, Orlando room rates averaged $107 a night in early May, an increase from $62 last year, but still down from the $133 average in 2019. New York City rates are down, as prices now run around $151 a night compared to $269 in 2019.

For those looking to avoid the high prices at the airport or hotels, road trips are also likely to cost more this year, as gasoline prices have reached the highest levels since 2014.