【正文】 y to grow? Key Demographic Trends Aging of population Changes in households Rising education Geographic shifts Cultural diversity Influence of women Growing niche markets Percent Change in Population by Age, 2023/2023 and 2023/2023 3%11%14%9%4%13%9 % 5 %19%9%49%76%15%56% 1 0 %0%10%20%30%40%50%60%70%80%Under 2 0 2 0 2 4 2 5 3 4 3 5 4 4 4 5 5 4 5 5 6 4 65+(Percent Change) Source: . Bureau of the Census “ Junior” Matures (Age 55 64) More Likely Than Other Travelers To …… ? Travel farther away from home ? Stay away from home longer ? Include two or more destinations in one trip ? Engage in more activities ? Travel with only one other household member, likely their spouse ? Spend more per trip Source: TIA Maturity Trends Increase in adultonly travel parties Slower growth in travelers looking for “traditional” family experiences Interest in local heritage culture increases Maturialism Important Reasons for . Family Vacations Sources: Better Homes Gardens and Travel Industry Association of America (% of 2023 Family Vacationers) Family Togetherness 87% Get Away from Stress 74 Rest and Relaxation 71 Visit Friends/Relatives 62 Excitement/New Experiences 50 Physical Activity 43 New Places/People 43 For Luxury/Feel Pampered 25 Top 10 Activities Among . Domestic Travelers, 2023 1. Shopping 30% 2. Social/Family Event 27 3. Outdoor Recreation 11 4. City/Urban Sightseeing 10 5. Rural Sightseeing 10 6. Beach Activities 10 7. Historical Places/Museums 8 8. Theme/Amusement Park 7 9. Gambling 7 10. National/State Parks 7 Source: TIA 81% of Travelers Included Cultural/Arts/Heritage Activities on Trips in Past Year Source: TIA and Smithsonian Magazine Cultural, Arts, Heritage or Historic Activities Included on Trips in Past Year (% of . Adults) 58%33%41%47%48%75%0% 10% 20% 30% 40% 50% 60% 70% 80%A n y H i s to r i c A c ti v i tyEth n i c C u l tu r eF e s ti v a l / F a i rA r t M u s e u m s / A n ti q u e sP e r fo r m i n g A r tsA n y C u l tu r a lSource: TIA and Smithsonian Magazine More Older Women Living Alone 0 1 2 3 4 5 6 7 8 9 10 11 1255+3 5 5 43 555+3 5 5 43 520232023Millions Men Women Source: . Bureau of the Census Millennial Generation – Great Potential for the Future Children of the Boomers Born between 1977 and 1994。 $23 billion between 2023 2023 . Hotel Performance Strengthens In 2023 1 . 0 %4 . 6 %3 . 7 %4 . 0 %7 . 8 %8 . 8 %%%%%%S u p p l y D e m an d O c c u p an c y A D R R e vP A R R oom R e ve n u eSource: Smith Travel Research % Change over Prior Year Changes to Domestic Advertising and Marketing Programs 48%35%47%59%63%70%63%75%34%39%40%44%47%51%53%56%0% 10% 20% 30% 40% 50% 60% 70% 80%M o r e A d v e r t i s i n gC h a n g e d t a r g e t e d c o n s u m e r m a r k e t sF o c u s m o r e o n d o m e s t i cM o r e m a r k e t i n g / p r o m o t i o n / P RO f f e r e d s p e c i a l s / d i s c o u n t sM o r e p a r t n e r s h i p sF o c u s o n c l o s e r m a r k e t sM o r e e M a r k e t i n g20232023Source: Travel Industry Association of America Among 90% of Members with Domestic Marketing Programs Where are We Going? Americans’ Economic Assessments Are Mixed 41% now rate economic conditions as positive, up slightly 48% say economy getting better vs. 42% who say it is getting worse Noticeable decline in citing economy as most important problem facing America – now 30% vs. 38% 40% in autumn of 2023 Only 33% says it’s a good time to “find a quality job”, vs. 62% who say it’s a bad time Source: Gallup Surveys . Leisure Outlook Leisure travel intentions remain strong Trends of the last few years will continue but some return to more normal patterns Growth in air travel exceeding that of auto travel Continued focus on family and connections but greater participation in other activities too Spending up 4% in 2023 over 2023 Domestic Leisure Travel Will Continue to Grow Slowly 76081086091096010102023 2023 2023 2023 2023f 2023f 2023fMillion of PersonTrips Source: Travel Industry Association of America Domestic Business Travel Will Rise but Still Below 2023 Lev