New Growth Potential in Family Travel Market

Travel agents definitely have an opportunity when it comes to selling to families who are craving information and price transparency.

According to a new study by the Family Travel Association (FTA) and the NYU School of Professional Studies (NYUSPS) Jonathan M. Tisch Center for Hospitality and Tourism, opportunity is being left on the table in the family travel market, especially multigenerational options in the travel space.

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“Our 2017 survey findings signify a major growth opportunity for the family travel industry,” said Rainer Jenss, president of the FTA.

This year’s study included more in-depth research into what families thought of their options when it came to travel. The results showed a disconnect between travel sellers and consumers.

“This year, we went deeper into recognizing that families come in all different shapes and sizes. We expanded the survey to include questions about destination preferences and aspirations, all in an effort to reveal how the industry is supporting American families’ travel needs,” Jenss added.

When families from around the U.S. were asked to grade how well the travel industry meets the needs of family travelers, the overall score was a B-minus.

Breaking down the results were even more revealing.

Airlines and travel agents received a C+; accommodations got a B; tour operators, cruise lines and car rental companies all scored a B-; and online booking and restaurants had a B.

READ MORE: The Best US Cities for a Family Vacation

The survey also identified some of the ways in which the family market could improve its offerings. Families indicated they need more affordable options and more packaged domestic options.

Planning was also a struggle. Large families said they continue to face challenges when traveling, while families with disabilities noted a lack of accessible travel options. Overall, families said there is a lack of reliable and comprehensive information on travel options and prices.

Despite what could be perceived as dissatisfaction with the industry, plenty of families intend to hit the road.

Overall findings in the survey indicated a healthy market for the multigenerational sector: Eighty-eight percent of families are “very likely” or “likely” to travel with their child or children during the coming 12 months.

Shorter vacations (up to one week) are the most common, and while summer is the most popular time for family travel, respondents showed a strong interest in adding winter vacations in the future. Most families book their travel within three months of departure. Theme parks, beach vacations, and family road trips are the most common vacations among respondents.

When analyzing which vacation types U.S. families would like to try for the first time in the future, cruises and all-inclusive resorts showed the greatest appeal.

READ MORE: Bringing Authenticity To Family Travel

The top three states families have visited are Florida, California and New York, while the top three states they would like to visit in the future are Florida, California and Hawaii.

Hotels, resorts and, motels were the most commonly booked accommodations, as families are looking for value and amenities for children when deciding where they want to stay. When researching their options, families say their main priority for a vacation is “visiting new places and exploring together” (49 percent), followed by “relaxing and unwinding together” (42 percent).

While 88 percent of families indicated they were planning to travel in the next 12 months, just 25 percent of respondents said they used a travel agent in the past five years, leaving a big window of opportunity for travel advisors.