-One of the macroenvironment forces that create opportunity to the company and could also bring threats. Economic environment affects consumer buying power and spending patterns.
Due to the bad economy, people who are not extremely wealth are not able to travel as much as they want. Since people have less money in their pocket, airfares and hotels expenses seem less affordable. The revenue of airline and hotel resorts also got influenced by consumer’s spending power. In order to deal with the economy situation, airline lowered the costs of airfare to stimulate more tickets purchasing. Moreover, airline and hotels cooperated to offer better deal to the customer, so traveling during the bad economy does not seem as expensive. For example, people like to go online to book cheaper airfare on Travelocity.com, Expedia.com, Priceline.com,…etc. Furthermore, if travelers book the same hotel for over certain period of time plus airfare, there are usually cheap deals available, sometimes people can save up to hundreds of dollars on hotel and airfare. But at the same time, tickets purchased on the websites are usually non-refundable, and the discounts are not available once customers changed the traveling time or destination.
-Ying-Ju Lai, Section G.
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