Industry Update
Opinion Article17 April 2013

Top 10 Trends of the Next Generation of Travel: The Millennials

By Teresa Y. Lee

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Y. Lee

The travel trends of the Baby Boomer generation have been the focus of a great deal of analysis as the industry competes to capture their business. However, a new generation is surpassing this segment and will be garnering as much attention: The Millennials. This age group is beginning to outpace the Baby Boomer's 76 million population with their own 79 million, and is projected to attain an even larger population gap at 78 million compared to the Boomers' 58 million by 2030. Though most people are aware that the Millennial generation is tech-savvy and will not travel in the same style as their parents, there has not been significant research concerning the trends and changes this generation will bring to the hospitality industry.

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Top 10 Trends of the Next Generation of Travel: The Millennials | By By Teresa Y. Lee

The travel trends of the Baby Boomer generation have been the focus of a great deal of analysis as the industry competes to capture their business. However, a new generation is surpassing this segment and will be garnering as much attention: The Millennials. This age group is beginning to outpace the Baby Boomer’s 76 million population with their own 79 million, and is projected to attain an even larger population gap at 78 million compared to the Boomers’ 58 million by 2030.
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Teresa Y. Lee

Teresa Y. Lee is a Consulting and Valuation Associate with HVS’s New York office. Teresa graduated from Cornell University with a B.S. in Hotel Administration and Minor in Real Estate Finance. Teresa has worked at various hotels and resorts both in the country as well as internationally. Since joining HVS in 2012, Teresa has appraised hotels in various states throughout the United States.

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    About HVS

    HVS is a leader in global hospitality financial consulting. Hotel owners, developers, investors, lenders, management companies, and public agencies around the world rely on HVS to make informed business decisions. HVS's commitment to excellence and unrivalled hospitality intelligence is delivered by more than 300 people in over 50 offices throughout the world who specialize in a wide range of hospitality assets including hotels, restaurants, casinos, shared ownership lodging, mixed-use developments, spas, and golf courses, as well as conventions, sports, and entertainment facilities. For more information about HVS visit https://hvs.com.

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