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Even knowing all of the headlines, I was still a bit stunned when I realized that car rental companies were storing thousands of unused rental cars in the parking lot of the large local fairgrounds near me.
COVID-19 and its subsequent restrictions have hit the travel industry hard. We know that flights are severely limited, and many airlines have been hit especially hard. Hotels have seen huge drops in occupancy and in average room revenue while trying to provide sanitized spaces for guests who still need a place to sleep. We also know about the state of the cruise industry and its challenges to stay afloat while maintaining cleanliness.
Yet, despite all the gloom-and-doom headlines, there are bright spots that shine within the industry and will likely lead to opportunities for travel franchises in the months and years ahead.
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We have reasons to be hopeful and positive:
- The US Travel Organization predicts an increase of 37.5% in travel for 2021 over 2020 with overall spending increasing through 2023. The time to get in on an opportunity is at the beginning of a growth period, and now might be your time.
- More rural areas without large urban centers, such as Alabama and Mississippi, are seeing improvements. Specializing in blue highways and unique locales offer less risk and an area ripe for expansion.
- As of late June, we saw several consecutive weeks of travel spend expansion. While lower than last year, of course, the upward trend is consistent—that’s good news.
- Cruises are starting next month with shorter itineraries that will boost traveler confidence.
- Road travel is at pre-pandemic levels and primed to pass it. Those road trekkers will translate into more hotel and resort stays especially since nearly half of all Americans are ready to stay at hotels and resorts starting this summer.
- The TSA recently screened 600% more passengers in one week than they had just two months before signaling growth in flights. Since early April, both domestic and international flight bookings have continued upward.
- Travelers seek thorough hygiene protocols, guiding travel franchisees to partner with respected hotels and airlines who are actively disinfecting and perfecting cleaning methodologies.
- Australia and New Zealand’s healthier status has catapulted them to the top in international leisure travel intent. And some international airlines are starting to offer coronavirus testing at destination points that will prevent travelers from having to quarantine.
- Business travel managers are actively working to encourage their employees’ confidence in safe travel.
These are positive signs of travel reemergence and offer unique options for those considering a travel franchise.
Travel is increasing again—both domestically and globally. With the support, training and successful track record of a franchisor, a travel franchise could be an excellent opportunity right now and into the future.
Anne Daniells is a co-owner of Enterprising Solutions, a professional services firm specializing in corporate communication and financial improvement for businesses where she shares decades of corporate and entrepreneurial experience—including franchise ownership—in her writings on business culture. She has authored hundreds of articles for publications including AllBusiness.com, TweakYourBiz.com, and MSN.com. Reach out via her website for more on where corporate culture, communication, and human architecture collide.