April 21, 2022
Traveling is getting more expensive not matter what form you are taking. Let’s take a closer look at the impact on RV travel costs.
According to AAA the U.S. national average price for regular unleaded is $4.12 on 4/21/2022. The average 1 year ago was $2.88. That is a 43% increase! This added cost coupled with the inflation seen in so many other areas of the economy has created headwinds for an industry that relies on its guests to travel and purchase consumer goods in order to participate the RVing experience. So, how is the affecting park owners across the country as we approach the travel season.
According to Woodall’s Campground Magazine, many owners say they have still seen strong demand. The owners state that when the vacation budget is tighter, the guests typically travel less distance to find their RV destination. The guests also tend to increase the number of days they stay. Many of the owners have seen some of the longer distance travelers cancel their bookings. However, as soon as those bookings are canceled, they are filled by travelers closer to the park.
Owners state the guests have invested a lot of money into their RV and will not let gas prices stop them completely. Adjusting plans to travel closer to home is the norm right now.
Quiggle, Ben. “Park Owners Expect More Local Traffic as Gas Prices Rise, Still See a Busy Year” Woodall’s Campground Magazine, Vol. 53, No. 5, 05/2022, 14 & 26.
Checkout some of our other related content:
Blog 1: https://crdrealty.com/evs-and-their-impact-on-the-rv-industry/
Blog 2: https://crdrealty.com/vendors/cost-segregation-services-inc-tom-brodie/
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