Here at Cornerstone Information Systems, we have been working on a method to aggregate, anonymize, and distribute information about the health of the Travel Industry – gathered from all of the data that flows through our network every month. We feel that it is paramount that companies with data share our knowledge and the foresight it brings.
Here are the numbers regarding the March 2024 travel index:
 | Avg Trip Spend | $1,544 |  +7% | |
 | Avg Air Spend | $801 | +13% | |
 | Avg Hotel Spend | $543 |  +1% | |
 | Avg Car Rental Spend | $199 | +4% |
There was a 5.47% decrease in total processed trips from February 2024 to March 2024.
** All currency is displayed in USD – the aggregates of our data have been converted into USD before being taken into account and calculating the Index numbers **
March 2024 Analysis
- The volume of trips in March 2024 is down 23.6% compared to March 2023.
- While we saw a 5.5% reduction in processed trips in March compared to February, we saw a 12.9% increase in the amount spent for the same period.
- Both the number of car rentals and hotel stays also saw a decrease in volume for March when compared to February. Car rentals decreased by 9.6% and hotel stays decreased by 3.9%.
- Those who did rent cars and booked hotel stays held on to them a bit longer when compared to last month. The number of days a car was booked went up by 1.4% and the number of nights per hotel booking went up by 0.7%
Information on the Cornerstone Index:
Much like how the S&P 500 Index tells the health of the US Stock Market, the Cornerstone Index is meant to reflect the health of the travel industry according to the data that we have available to us.
Please note that we are performing adjustments and cleansing to ensure an accurate index. This means that during our development of the travel index, some values may fluctuate month to month in their calculations. However, we do not believe this offsets major travel trends.