ORLANDO— Peter Yesawich, president/CEO of Yesawich, Pepperdine and Brown, says that 2002 will likely be a year of recovery for the battered hotel industry, based on three national travel surveys conducted since Sept. 11. “It is our view that travel will see a slow climb during 2002, [but]we may not see a full recovery until 2003,” said Yesawich. The YP&B polls show that travel, both business and leisure, has rebounded since September 11, but has not returned to pre-September 11 levels. Yesawich sees four distinct trends for 2002: -Travel will be a family affair. “There is a growing importance of family in the aftermath of the events of September 11 as Americans have reflected on what is really important in their lives, Yesawich said. -More people will drive rather than fly. Fear of flying is the number one reason people have altered or cancelled their travel plans. -More vacations will be taken closer to home. One out of five leisure travelers will change or cancel their plans as a result of the terrorist attacks of 9/11, studies show, and the most frequent mentioned change calls for vacations to be taken closer to home. -Promotional pricing will continue to stimulate demand. The travel industry saw an unprecedented clearance sale during the fourth quarter of 2001, Yesawich said. That trend will continue at least through the first quarter of 2002, if not beyond.
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