There is a popular theory that millennials are a totally different consumer group and they require a separated approach. However, the latest research from PwC proves that most travelers share same habits in almost all areas, and millennials are no exception. Sharing economy seems to be the only part where younger travelers have different point of view.
According to the survey with more than 1,000 participants, as many as 88% of leisure and 90% of business travelers are aware of such thing as “non-traditional accommodations”, but they do not want to use these options. Moreover, almost one third of business travelers said they couldn’t use such options because the options didn’t fit their corporate policy. Millennial travelers, in their turn, are more open to new ways of travel. They are enthusiastic about the sharing economy, seek adventure and lower price tag.
Millennials also have the fewest memberships in hotel loyalty programs. The average here is 2.3. When it comes to redeeming reward points, all categories of respondents chose free room nights the most sought after option. However, millennials put room upgrades as their second most preferred reward, while only 16% of other travelers put this option to second place.
In general, the difference in answers between millennials and travelers aged 30-plus was not that big. Leisure travelers are still more price-sensitive, while business travelers pay attention to reward points that they can use later for personal trips. As millennial travelers are thirsty for adventure, hotels might offer special authentic experiences and new services to attract this age group.