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The travel industry could be in the very early stages of a recovery as airport foot traffic was "slowly recovering" into the holiday season and Christmas travel was a "bright spot," according to location analytics firm Placer.ai.
What Happened: Chicago's O'Hare airport, along with Dallas/Fort Worth, Miami International, and New York's JFK airports showed improving traffic in December versus prior months. Granted, total traffic was still notably lower in December on a year-over-year basis, it does signal that people are "sort of flying."
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Despite fewer people taking flights, Christmas travel still showed encouraging signs for some airports, according to a Placer.ai report. Most notably, traffic at Dallas/Fort Worth's airport on Dec. 22 was down 36% year-over-year and down just 24.2% on Dec. 23.
Los Angeles' LAX, O'Hare, Miami International, and JFK all showed similar improvements in traffic on Dec. 23.
Related Link: How Did Retail Perform During The Holidays?
Why It's Important: The worst period for the travel industry may have already passed. Back in August, JFK traffic was down 90% year-over-year versus down 69% in December.
The hotel sector also ended in 2020 on a stronger note, according to Placer.ai. Traffic at Four Points by Sheraton hotels improved from down 51.5% year-over-year in November to down 44.4% in December, Comfort Inn and Suites visits improved from down 27.6% in November to down 20.4% in December.
Best Western visits were among the closest to pre-COVID levels as traffic was down just 13.7% year-over-year for the week of Dec. 25.
"Even with COVID surging again in the states, airports and hotels, while still struggling are making leaps back to normalcy," Placer.ai wrote.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.