Travel inflation splits summer spending by income (opens in new tab)

Business Insider reported that summer travel spending reflects a K-shaped economy, with higher earners continuing to spend on luxury vacations while lower earners cut back or stay closer to home. The article cited a PwC analysis showing that luxury hotel occupancy and revenue per available room have risen while both metrics have declined for economy hotels, and Bank of America Institute research finding that about a fifth of travelers plan to reduce their number of trips this summer. Home Bus...